Estate agent gone bust before exchange

[Littlepoppet1]

I'm having a mild panic and wonder if anyone can help reassure me!

We are due to exchange this week and have a completion date pencilled in for the 20th May. Searches all done, contracts signed and returned etc. I have found out today from a reliable source that the estate agents involved in the sale of the property we are purchasing have gone bust. Small family run agents, owner seems to have had some kind of breakdown and all the staff have walked out.

I know I need to speak to our solicitor which I intend to do tomorrow but I am panicking about what the effect of this will be on our purchase? Anyone any idea?

Can't see that it should make much difference.
At your stage it is between solicitors, the EA is a useful single point of contact (unless they were useless like ours!) but it should go through although you may have to be more hands on.
Don't assume there is no fee to pay, if they really have gone bust I bet you are still liable.

OP won't have to pay... they're buying.

I'm sure everything will go ok as planned.

Should not make any difference at all! It’s all done between solicitors at this point. The only thing you need to check (via solicitors) is where you should collect the house keys from if the estate agents are shut.

Thanks for the reassurance everyone! I was hoping that would be the case but just worrying! Would hate to get this close then it all fall through especially when we have paid for surveys, searches etc! Will ring the solicitor tomorrow just to check all still on track.

can’t see it being an issue, you may have to pay the liquidator, any fees due to EA but it certainly shouldn’t hold the sale up.

if you are purchasing only, even better.

@Roselilly36 we are selling too but through a different agent so only purchasing through this one. Only a short chain though, first time buyers buying ours and the one we are buying is probate property so is currently vacant.

@Littlepoppet1 Good luck, it’s a stressful time I know. We moved last year.