What Happens if Completion is Delayed by a Buyer?

So, you’ve exchanged contracts, packed the boxes, maybe even booked the removal van. You’re ready to move. But what if the buyer suddenly asks for a delay on completion?

Selling your home is often stressful enough without this curveball, and the process is increasingly drawn out, as recent Propertymark research confirms. Let’s break down what happens if completion is delayed by the buyer, as well as your options for moving forward.

What’s completion day, and why does it matter?

First off, completion is the day the ownership of the property officially transfers from the seller to the buyer. It’s the day when the keys are handed over and the money changes hands. In short, it’s the finish line.

Now, the critical point here is that once contracts are exchanged, the sale is legally binding. But the completion date is set during that contract exchange, and both parties are obligated to stick to it. 

So, if you’re asking “Can you delay completion after exchange?” or more specifically “Can the buyer delay the completion date”, the answer is yes, technically—but not without consequences.

Why would a buyer delay completion?

The vast majority of buyers don’t delay completion without reason, but sometimes things happen beyond their control. Common reasons for delay include:

Mortgage funds delayed

One of the most common reasons is that the buyer’s lender hasn’t released the funds as scheduled. Even if the mortgage has been approved, banks can sometimes experience delays, particularly if additional checks are required at the last minute.

Legal issues

Sometimes, the buyer’s solicitor may not have completed all the necessary paperwork in time, or there could be unresolved legal matters such as outstanding property searches or issues with the property title. These delays often occur through no fault of the buyer but can still hold up the process.

Chain complications

If the buyer is part of a property chain, a delay elsewhere in the chain can cause a ripple effect, pushing back your completion date. For instance, if the buyer’s own sale is held up by their buyer, this can impact your sale as well.

Personal circumstances

Life happens, and unexpected personal issues—such as a family emergency, job loss, or relationship breakdown—can sometimes force the buyer to request a delay. While unfortunate, these scenarios can also significantly impact the timeline.

What happens if completion is delayed by my buyer?

As frustrating as this can be, there are a few key things to keep in mind:

Penalty interest

You may be entitled to compensation for each day the completion is delayed. The standard rate is usually 4% above the Bank of England base rate. So, if the buyer is at fault, they’ll owe you interest on the outstanding balance.

Notice to Complete

If delays drag on, your solicitor can serve a Notice to Complete, giving the buyer a set number of days (usually 10) to complete the purchase.

However, before a Notice to Complete can be served, you, as the seller, must be “ready, willing, and able” to complete the transaction. In other words your paperwork must be in order, your solicitor should be prepared to complete, and you must be ready to hand over the keys. Essentially, the only thing holding up the sale should be the buyer’s delay.

Additional costs

Delays can mean extra costs, such as extra mortgage payments, storage or renting an alternative property. Whatever you do, keep a note for potential reimbursement.

What happens after completion is delayed by my buyer?

If the buyer still fails to complete after the Notice to Complete is served, they are in breach of contract. This gives you the right to terminate the sale and potentially seek compensation.

If the buyer breaches the contract, you are typically entitled to keep their deposit. This is a significant financial penalty for the buyer and gives you a form of compensation for the lost time and effort.

Once the contract is terminated, you are free to relist the property. While it’s frustrating to start the process again, keeping the deposit and having the freedom to sell to another buyer may provide some financial relief.

What can you do to avoid delays?

Prevention is better than cure, right? You can minimise the risk of completion delays if you:

• Make sure the buyer has a mortgage offer in place and has completed all necessary checks with their lender before you exchange contracts.
• Choose an experienced solicitor. They’re able to anticipate issues and keep things moving smoothly.
• Keep in regular contact with your solicitor and the buyer’s solicitor to ensure everyone’s on the same page. This can stop small issues escalating.

When a pause is a problem-solver

Sure, the buyer might be the one causing the delay, but you might have the option to pause the process on your side. 

If you see the warning signs early—before contracts are exchanged—you can request to delay the exchange. This might encourage the buyer to resolve their issues faster, or allow both parties to take a step back and reevaluate the timeline.

Pausing the exchange can be a strategic move to avoid complications down the line, especially if there are concerns about the buyer’s readiness to complete. However, this sort of step should never be taken lightly, or without input from your solicitor, as it’s possible for a pause to create problems down the road.

Ditch the risk of delays altogether

Completion delays can be frustrating, but knowing what happens if completion is delayed by the buyer gives you the power to act.

But what if you’re done with the uncertainty? In that case, SellHouseFast.co.uk offers a quick, straightforward solution.

We’re a leading cash house buyer, which means you get to bypass these selling headaches altogether. Forget slow-moving mortgage lenders—we can complete the whole process extremely fast, with no estate agent fees, no hidden costs and coverage across the UK.

Get a free no-obligation quote today and learn how we can help you move on smoothly, and most importantly with certainty.