Buying Commercial Property · glossary
The step at which the buyer pays the rest of the price and the building becomes its own. Under the contract it happens when the seller's solicitors confirm that the balance has reached their client account. The register still names the seller until registration. Definition: Completion · Chapter 1 · Chapter 9
Explained in Chapter 1, What a Property Deal Is, of Buying Commercial Property.
Completion comes some weeks later. Fellgate pays the rest of the price, Holmfield hands over the signed transfer, the deed that passes the land, and the agents hand over the keys. From then Fellgate has the building, but the register still names Holmfield.Read Chapter 1, What a Property Deal Is →
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completion of the sale and purchase of the Property under clause 9;Read the definition in the document →
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