Selling a house can be a lengthy process, but in some cases, buyers and sellers look for ways to speed things up—especially if they need a quick sale. One question that often comes up is: Can you exchange contracts and complete on the same day?
The short answer is yes, but it’s rare and comes with challenges. Let’s explore how it works and whether it’s the right choice for you.
What Does Same-Day Exchange and Completion Mean?
Normally, the home-selling process follows these steps:
- Offer accepted – Buyer and seller agree on a price.
- Conveyancing – Solicitors handle legal checks, searches, and paperwork.
- Exchange of contracts – Both parties sign legally binding contracts, setting a completion date.
- Completion – Ownership transfers, keys are handed over, and funds are released.
Traditionally, there’s a gap (often 1-4 weeks) between exchange and completion. However, in a same-day exchange and completion, both happen on the very same day, speeding up the sale significantly.
When Is Same-Day Exchange & Completion Possible?
This fast-track approach is most likely in these situations:
✔ Cash buyers – No mortgage delays mean quicker transactions.
✔ No property chain – If the buyer isn’t selling another home, there’s less risk of delays.
✔ Simple transactions – No major legal issues, leasehold complications, or disputes.
✔ Experienced solicitors – A conveyancer who can work at speed is essential.
The Risks of Same-Day Exchange & Completion
While it sounds convenient, there are potential downsides:
❌ Last-minute problems – If a mortgage offer falls through or a search reveals an issue, the deal could collapse.
❌ High pressure – Both parties must be ready to move immediately, which can be stressful.
❌ Limited time for checks – Skipping due diligence could lead to legal or financial surprises later.
How to Increase the Chances of a Smooth Same-Day Sale
How to Increase the Chances of a Smooth Same-Day Sale
If you’re considering this route, follow these tips:
🔹 Work with a fast-moving estate agent – A top-rated estate agency in Colchester & Clacton on Sea, like Northwood, can help coordinate the sale efficiently.
🔹 Choose an experienced solicitor – They’ll need to prioritise your case and act quickly.
🔹 Ensure all paperwork is ready – Surveys, mortgage approvals, and searches should be completed in advance.
Need a Fast House Sale in Colchester or Clacton on Sea?
If you’re looking to sell your house in Colchester & Clacton on Sea quickly, working with a reliable estate agent in Colchester & Clacton on Sea is key. Northwood Clacton specialises in hassle-free property sales and can guide you through the process—whether you need a same-day completion or a more traditional timeline.
Final Thoughts
Same-day exchange and completion is possible, but it requires perfect coordination between all parties. For a smooth and stress-free sale, partnering with a trusted local estate agent in Colchester & Clacton on Sea ensures you get the best outcome—fast or otherwise.Ready to sell? Contact Northwood today for expert advice!
