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You've accepted an offer on your house, signed the contracts and are prepped to move out - completion day is almost here. After the long process of selling your home, completion day marks the final stage of your house sale. It's the day you hand over the keys and the home switches ownership.

Completion Date (Closing date): The completion date in a real estate contract is the date the property is transferred, and the day the money for the purchase is transferred from the buyer to the seller.

The completion date, put simply, is moving day. It's the date on which the seller must vacate the property and the buyer will get the keys and can move in. Fundamentally, on completion, the buyer must, through their lawyer, hand over all the remaining money required to purchase the property.

Possession date is the date on which the builder or the seller of the property has promised to hand over the said property to the buyer. Under RERA, the possession date must be mentioned in the sale agreement.

When exchanging contracts, the completion date is also confirmed. The completion date, put simply, is moving day. It's the date on which the seller must vacate the property and the buyer will get the keys and can move in.

The completion date can be at any time and date agreed between the parties but given the need to arrange transfer of utilities and to organise a moving company, etc, it's normal for completion to be say 4 weeks after the date that the contract is exchanged.