Property Handover Guide: What to Expect on Completion Day

Completion day is when you officially become a property owner. This guide explains what happens during handover, what documents you'll receive, and the essential steps to take after getting your keys.

📅 Before Completion Day

1-2 Weeks Before:

Confirm completion date with your solicitor
Ensure mortgage funds are ready for release
Arrange final property inspection
Prepare remaining payment (if any)
Arrange utility account transfers

🔑 What Happens on Completion Day

Morning: Fund Transfer

Your solicitor coordinates with the seller's solicitor and the bank:

Mortgage funds released from bank to seller's solicitor
Your remaining payment transferred
All funds verified and cleared

Afternoon: Document Exchange

Once funds are confirmed:

Title documents transferred to your name
Assignment deed signed and stamped
Keys released to you

📋 Documents You'll Receive

Assignment Deed: Proof of ownership transfer
Title Documents: Historical ownership records
Mortgage Documents: Loan agreement and terms
Building Plans: Approved floor plans
Occupation Permit: For new properties
Management Documents: Building rules and contacts
Keys and Access Cards: All keys and security devices

✅ After Receiving Keys

Immediate Actions:

Change all locks for security
Test all utilities (water, electricity, gas)
Take meter readings
Register with building management
Set up utility accounts in your name

Within First Week:

Update address with government departments
Arrange property insurance
Meet building management
Understand building rules and facilities
Plan renovation if needed

Within First Month:

Update address with banks and employers
Register for rates and government rent
Set up autopay for mortgage and management fees
Keep all documents in a safe place

⚠️ Important Reminders:

Keep original documents safe (consider a bank safe deposit box)
Make copies of all important documents
Note the defect liability period end date
Understand your mortgage payment schedule

🎉 Congratulations!

You're now a property owner! While the process may have been long and complex, you've achieved a significant milestone. Take time to enjoy your new home while staying on top of your responsibilities as a property owner.

💡 Pro Tip:

Create a home maintenance calendar to track regular tasks like air conditioning servicing, water heater checks, and building inspections. Regular maintenance protects your investment.

📐 Related Tools

Try our Mortgage Calculator to calculate your monthly repayments