Exchange and completion
Two big moments. Exchange is when contracts are legally swapped and you're committed. Completion is when the money moves and you get the keys. Usually 1-4 weeks apart.
Exchange of contracts is the legal point of no return. Before exchange, either side can walk away with no penalty. After exchange, you're both legally bound. You'll transfer your deposit to your solicitor a few days before exchange. Buildings insurance must be in place from the exchange date, the property is at your risk from that moment, even though you don't have the keys.
Completion day is the day the rest of the money moves from your lender to the seller's solicitor, and the keys are released. Usually you find out keys are ready around lunchtime, though sometimes it slips to mid-afternoon depending on the chain.
Useful services for the move
Don't book removals to arrive at 9am on completion day. You won't have keys yet. Book them for 12pm or 1pm. The number of buyers I've seen sat on the kerb with a removals van and no keys is unreasonable.
When you've worked through everything in this stage, mark it complete to track your overall progress.
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