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Stage 8 of 10Make it official·Two to three weeks

Exchanging contracts on a UK property — the final checks

What happens at exchange of contracts, what your deposit covers, how the completion date is set, and what to do if a chain wobbles in the final week.

Typical timescale
Two to three weeks
Approximate cost
10% deposit (often less if your overall deposit is smaller)
When in the journey
Phase 3 of 4 — Make it official

What happens at this stage

Solicitor goes through search results and enquiries. You agree a completion date, sign the contract, and send the deposit. Then solicitors swap signed copies — legally binding.

What to do, in order

  1. 1Negotiate a completion date that works for the whole chain.
  2. 2Arrange CHAPS payment to your solicitor (banks limit normal transfers).
  3. 3Sign and return the contract — your solicitor will brief you.

Watch out for

  • Buildings insurance not active from exchange day.
  • Chain wobbles in the final week.
  • Forgetting completion date is now contractually fixed.

Who you'll need at this stage

Sample selection — your live dashboard will show postcode-matched providers with up-to-date prices.

Solicitors

  • Aurora Legal

    London · 4.8★ · On all major lender panels.

    £1,150 fixed

  • Greenfield & Co.

    Manchester · 4.7★ · 14-day average exchange.

    £985 fixed

  • Coastline Conveyancing

    Bristol · 4.6★ · Specialists in leasehold.

    £1,290 fixed

Frequently asked

What happens if I pull out after exchange?
You lose your 10% deposit and can be sued for further damages by the seller. After exchange the contract is legally binding — only pull out for the most serious reasons and with legal advice.
How long between exchange and completion?
Usually one to four weeks. Most chains aim for a Friday completion. The gap can be same-day (called 'simultaneous exchange and completion') in rare cases.

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Last updated: 1 July 2026 · Clinkeys is not a regulated advisor. For binding decisions, always confirm with a solicitor, broker, or surveyor.