I'm in the same position. Survey carried out on our house, survey booked in for new house and our solicitor waiting for contract and searches to do when survey completed. Really, really want this house (there's nothing else currently on the market that's suitable) and I can't get excited about it as I'm being cautious thinking what can go wrong. Fingers crossed for both of us
Searches can show up things like flood risk / new developments / electricity substations / planning consents which could cause concern for a buyer. If you know there is none of this to worry about then don't.
Then there is the worry of gazundering.
Do you want me to think of more things for you to worry about
what could go wrong with the searches I mean? or putting the contract together?
I'm fairly sure our vendors aren't going to die or get a better job as they are dead already, our buyers are really committed but I do need something to worry about so need to worry about searches and contracts. but I don't know what happens in this stage of the process so there is currently limited scope to worry. that's what I'm asking!!!
Unfortunately it's always possible for something to go wrong up to exchange of contracts.
Someone makes a better offer. Someone who planned to buy gets offered a better job in a different part of the country. Something bad comes up in the searches. Someone panics over the financial commitment they're making and decides not to proceed. Someone becomes seriously ill or dies, either a person involved or one of their relatives, and it affects their choosing to move. (We lost a house when one of the owners was diagnosed terminally ill and they decided not to move). The council announces new plans for the local area which put a buyer off. The buyer has a chat with a friend who says "oh gosh you're not thinking of moving to X town are you?" and then suggests why they shouldn't. Someone just changes their mind.
So I'd see it as something that hasn't happened until it's happened.