This is the final step in the property buying process and once complete, the house is yours.

Before the exchange, ensure the following is done:

• You have a formal mortgage offer from your lender
• You have a full fixtures and fittings list from the seller's solicitor explaining exactly what is being left in the home
• You have arranged house insurance cover, starting from the day of the exchange
• Your solicitor has completed the searches
• You will be required to pay the deposit into the seller's solicitor's bank account. If you are paying by cheque, you need to ensure you allow time for the cheque to clear

Legal Paperwork Your solicitor will provide the legal paperwork to enable you to buy the property, whilst the seller's solicitor will draw up a contract, on behalf of the seller. You will be asked to sign the contract and pay the deposit. After the seller has signed their contract, the two solicitors will 'exchange' contracts.

A completion date is then agreed, the deeds signed, the balance of the money paid and you will receive the house keys.