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What is completion on notice?

When agreeing to buy a new build home it can be difficult to give an exact completion date meaning that for many new build house purchases completion is on notice. This means that completion will take place at a later specified date.

Often the competition for specific plots means that buyers exchange contracts (ie enter into a legally binding agreement to buy the home) well before the developer can give a specific date when the building will be finished. 

In such circumstances, the developer and buyer will agree that completion will take place and the keys handed over on a date to be specified later, after the developer has given a number of days’ notice in advance that the property will be ready for occupation.

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