What Does it Mean to Exchange and Complete on a Property?

If you're buying a home and can't wait to pop the champagne, you'll have to put celebrations on hold until the exchange of contracts.   Before contracts are exchanged, the seller or buyer can pull out of the deal at any time.   You might already have booked the removals van and planned the décor for every room but you need to take a step back and make sure everything is in place before you go out buying paint.   On episode 8 of the Move iQ podcast, Co-Host Chris Ducker, quizzes property expert, Phil Spencer, on what it really means to exchange and complete on a property. You'll learn what needs to happen before you can exchange and find out what you can do to help ensure the process runs as smoothly as possible.   Listen in to find out: What 'exchange and completion' actually means What to think about when it comes to building insurance Why you shouldn't book a removal company until the exchange of contracts is complete How to prepare for exchange and completion What causes delays on completion and how to overcome them What happens on the day of completion   Thank you for listening to the Move iQ podcast! This is the last episode of season one of the Move iQ podcast with your host Phil Spencer and Co-Host, Chris Ducker. We hope you enjoyed the show so far and are excited to join us for another season of the podcast very soon!   For lots of free resources, materials and tips for buying a house, renting and moving, head over to www.moveiQ.co.uk   Download your FREE exclusive Moving Day Checklist If you're moving to a new home, check out Move iQ's Moving Day Checklist for top tips on how to get prepared, packed and ready to go! To download the exclusive Moving Day Checklist, head to moveiQ.co.uk/checklist   We want to thank the sponsor of our show: GoTo offer a nationwide network of services from mortgages to surveys, conveyancing as well as online property auctions. You will receive a competitive quote that comes with a price promise and you can speak directly to a member of the GoTo award winning team, who will help with any query you have during you move whichever service you use.       Find out more about Move iQ To find out more about Move iQ, you can visit our website, where you can register to receive offers and benefits, and sign-up to receive our exclusive monthly newsletter. Please also connect with us on Facebook, Instagram, Twitter or LinkedIn. If you have any questions for Phil or any special requests for topics to cover on the podcast then please use #AskPhilMoveiQ on Twitter or send an email to [email protected]. We've also got lots of great videos over on YouTube, so be sure to subscribe to our channel and let us know what you think.