Buyer already exchanged on his sale

[ilovewinterpansies]

We are in a chain at the moment (both buying and selling) and haven't exchanged.

I've just found out that our buyer has already exchanged on his sale and has moved into temporary accommodation.

I know this doesn't mean that our sale will fail (we are v close to exchange, mortgage offers all in, surveys all done, and solicitors are dealing with the last of the enquiries)....but it has made me very nervous as he's now in a position of strength as he's now chain free and could drop out and buy somewhere else more easily.

Any thoughts/advice on how I can calm down?!!? Am I reading too much into it?! Why not wait and exchange all at once?! Seems odd to add the extra moving step into the process.

I wouldn’t worry, I think it’s to your favour. One less in your chain. Perhaps it’s taken a long time to sell his property and he didn’t want to lose his buyer.

We had to exchange on our sale or we’d have lost our buyer. It could easily be the same for him.

Also, he'll be more keen to proceed because he is paying for temp accommodation, which is dead money. Doubt he'd pull out having paid for surveys etc - he epukd be throeing his money away.

If he pulls out he will have to start from square one. Getting a new mortgage offer, surveys to be done along with the usual searches that solicitors do - All very time consuming.

Good luck

Ok thanks everyone, you've made me feel a lot better

Why is our bloody conveyancing system so stressful??!! Anyway thanks for the advice and wish me luck!! Xx