246. Completion.

Conventionally completion takes place about 28 days after exchange of contracts, the proposed date1 being agreed between the parties' solicitors and inserted in the contract at the time of exchange of contracts2.

There are, however, cases where the interval between exchange and completion is shorter (or longer) than the normal 28 days and in some cases exchange of contracts takes place simultaneously with completion itself. In the latter case it follows that all the steps in the transaction, both pre-contract and pre–completion, need to be carried out before any formal contract by way of exchange exists between the seller and