Hose sale process

[Lollipopslife17]

At what stage can the potential buyers ask for compensation if the seller pulls out of the sale process that's if the seller decides to sell to someone else or say they do not want to sell anymore.

House not hose.
House sale process sorry about the spelling errors

After exchange of contracts.

Unfortunately they can pull out before exchange of contracts and there is nothing anyone can do about.

@ThroughThickAndThin01 they haven't got to that stage of exchange at all. Only accepted offer, buyer has done survey and they are going to the property to measure up later this week.

@JoObrien7 you mean the seller can pull out of the whole thing at anytime before the exchange of contract?

Until exchange of contracts either party can walk away for any reason without any fall out.

Can't the potential buyers ask for compensation if they have already paid for survey or and solicitors fees etc ?

No unfortunately.

If your friend is just stringing them along, he needs to pull out now.

@ThroughThickAndThin01 he is not stringing them along he is just about nervous about the whole process and finding a property to move to. He's gone through a lot in the past few months so just a bit nervous etc

There’s no time limit (although it might depend on some individuals having personal time limits I.e. having to move out of a rental property, or a mortgage offer running out), but he needs to be honest with them.

Are they first time buyers? Most people wouldn't pay out for a survey until they knew the chain was complete. I'd be concerned he hasn't been honest with them.

As above, everyone is liable for their own fees and nobody elses before exchange.

However, is he selling through an estate agent? If he pulls out and has a 'ready, willing and able' buyer he may still be liable for their fees and needs to check his contract wording.