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How certain are things after exchange?

(6 Posts)
Fiddlestickler Sun 19-May-13 01:08:30

Panicking a bit - started telling people our new address now that we've exchanged, and reading a few posts on here has just made me worry... We're in a long chain (7). Surely people can't pull out now...can they??

deleted203 Sun 19-May-13 01:24:10

Once you've exchanged contracts you are legally committed to the sale. If anyone pulls out now they will lose their deposit. Have a read of this if it's any help!

www.cheltglos.co.uk/guides/first-time-buyer-guide/completing.html

Fiddlestickler Sun 19-May-13 12:08:59

That's what I thought, and for that reason I didn't worry last time - some people on here keep saying 'if it goes through' and 'unless it falls through' which is worrying me!!

Fiddlestickler Sun 19-May-13 12:09:24

And we're not even FTBblush

Blu Sun 19-May-13 15:18:13

I think you can breathe a sigh of relief once you have exchanged.

V v occasionally someone does break contract, but then you keep their deposit.

The chances are not worth panicking about, IMO.

specialsubject Sun 19-May-13 17:39:57

does happen but not often. And if it does you get lots of money, more than enough to pay for phone calls and stamps. :-)

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