House purchase

Unusual to not complete after cash exchanged

It can fall through between exchange and completion but purchaser would lose their deposit.

Fingers crossed for her- it's a very worrying time. We did it exactly a year ago. Hellish.

Contracts exchanged and deposit paid. Hugh amount transferred to solicitor as part payment. Completion date next wk.

If the purchaser pulls out after exchange of contracts, don't they lose the required 10% deposit? Not sure how the vendor would be penalised, given they'd be breaching the contract. Sue them I suppose but I imagine could be costly.

We were buying a new property and just as we were due to exchange contracts, the builder went bankrupt, others had already exchanged contracts and it did take a really long time for them to get most of their money back and the development remained unfinished for some years.

And on the day of my last house purchase, the vendor asked for more money - and I paid it, of course 😕

David49

It’s only complete when the cash is in your account,

OP is aware of this.

As JJ says it’s possible but very rare.

Fingers crossed.

It’s only complete when the cash is in your account,

It is very unusual but yes
Hopefully it will all be fine 🙏