Few things are more disappointing than hearing that a buyer has decided not to proceed.
After weeks, and sometimes months, of progressing a sale, it can feel like you've gone back to the beginning.
Whilst this can be frustrating, it doesn't always mean the end of your sale. Understanding what happens next can help you make informed decisions and get your move back on track as quickly as possible.
The Short Answer
Until contracts have been exchanged, either the buyer or the seller can usually withdraw from the transaction without legal penalty.
If your buyer pulls out before Exchange of Contracts, your conveyancer will discuss your options with you, and your estate agent can usually begin remarketing the property if you decide to continue selling.
The Explanation
In England and Wales, accepting an offer does not create a legally binding contract.
That only happens when contracts are exchanged.
Before Exchange of Contracts, circumstances can change for a variety of reasons.
For example:
The buyer's mortgage application may be declined.
A survey may reveal unexpected issues.
The buyer's own sale may fall through.
Personal or financial circumstances may change.
The buyer may simply decide not to proceed.
Whilst it's understandably disappointing, it doesn't necessarily mean your property won't sell.
If your buyer withdraws, your conveyancer will advise you on the legal position, and your estate agent can discuss remarketing the property or progressing with another interested buyer if one is available.
Sometimes transactions recover surprisingly quickly, particularly where there are other prospective buyers.
Common Questions
Will I lose my legal fees?
Some legal work will already have been carried out, so fees may be payable depending on how far the transaction has progressed and the terms of your agreement with your conveyancer.
Your conveyancer will explain the position to you.
Can I accept another offer straight away?
Yes.
If another buyer is available, you can usually proceed with them, subject to the usual conveyancing process.
Do I have to complete all the forms again?
Usually not.
In many cases, the information you've already provided can be used again, although it may need updating if circumstances have changed.
Can the buyer pull out after Exchange of Contracts?
Exchange of Contracts is the point at which the transaction becomes legally binding.
If a party fails to complete after Exchange, the legal consequences are very different.
Top Tip
If your estate agent tells you there's interest from other buyers, don't assume it's bad news.
Having reserve interest can sometimes help if circumstances change before Exchange.
Did You Know?
Many sales that fall through before Exchange are successfully resold, sometimes to buyers who had previously viewed the property.
Common Misconception
"If my buyer pulls out, I've got to start everything again."
Not necessarily.
Whilst a new buyer will need to carry out their own legal investigations, much of the work you've already completed—such as your property forms and supporting documents—can often still be used.
The MA Lawyers Approach
At MA Lawyers, we know how disappointing it can be when a buyer withdraws.
If it happens, we'll explain exactly where your transaction stands, advise you on any legal implications and work with you and your estate agent to help get your sale moving again.
Our aim is to minimise disruption wherever possible so that, if you're ready to continue selling, you're in the best possible position to move forward.
Related Articles
Why Is My Sale Taking So Long?
What Enquiries Will the Buyer's Conveyancer Raise?
When you've accepted an offer and you're ready to move, it's natural to hope that everything will progress quickly.
The reality is that buying and selling property involves many different people, organisations and legal processes. Whilst some transactions complete within a matter of weeks, others take longer because everyone involved has to reach the same point before the sale can move forward.
Waiting can be frustrating, but it doesn't always mean that something has gone wrong.
The Short Answer
Property transactions involve many different people working towards the same goal.
Your conveyancer can only progress your sale as quickly as the information becomes available.
Delays are often caused by factors outside your conveyancer's control, such as waiting for search results, mortgage offers, replies from third parties or other transactions within the property chain.
The Explanation
Every property transaction is unique.
Some progress quickly because the paperwork is straightforward, there is no chain and everyone responds promptly.
Others naturally take longer because more information is required or additional parties become involved.
For example, your transaction may depend on:
The buyer's mortgage lender issuing a mortgage offer.
The buyer's survey identifying further questions.
Replies to legal enquiries.
Leasehold information from managing agents or landlords.
Search results.
A management company providing information.
Other buyers and sellers within the property chain.
Local authorities or third-party organisations.
HM Land Registry applications or title issues.
Your conveyancer continues working on your file throughout the transaction, even when it may appear that nothing is happening.
Sometimes progress is visible.
Sometimes it's happening behind the scenes.
Common Questions
Has something gone wrong if it's taking longer than expected?
Not necessarily.
Many transactions simply take longer because information is still being gathered or other parties are progressing their own part of the transaction.
Why does it seem quiet for days or weeks?
Some stages involve waiting for replies from other organisations or professionals.
During this time, your conveyancer will continue reviewing information as it arrives and progressing anything that can be dealt with.
Can my conveyancer make other people respond more quickly?
Your conveyancer will chase outstanding information where appropriate, but they can't control how quickly third parties respond.
Can I do anything to help?
Yes.
Returning documents promptly, responding to requests for information and keeping your conveyancer informed of any changes can all help avoid unnecessary delays.
Top Tip
Whenever you receive a request from your conveyancer, try to respond as soon as you reasonably can.
Even small delays in returning documents or answering questions can sometimes affect the overall progress of the transaction.
Did You Know?
Even the simplest property transaction may involve dozens of different people and organisations working together before contracts can be exchanged.
Common Misconception
"Nothing is happening because I haven't heard from my conveyancer."
Not necessarily.
Much of a conveyancer's work happens behind the scenes—reviewing documents, raising enquiries, speaking with other professionals and waiting for information that allows the next stage of the transaction to begin.
The MA Lawyers Approach
At MA Lawyers, we know that waiting can often be the most difficult part of selling a property.
We'll continue progressing every aspect of your transaction that we can, review information as it arrives and keep in touch whenever there's meaningful progress or we need something from you.
Our focus is always on moving your sale forward wherever possible, whilst recognising that some parts of the process depend on other people and organisations.
Related Articles
Why Can't My Conveyancer Tell Me When We'll Complete?
What Enquiries Will the Buyer's Conveyancer Raise?
It's one of the most common questions in conveyancing:
"Can you tell me when we'll complete?"
We completely understand why people ask.
Whether you're arranging removals, booking time off work, organising school places or simply looking forward to moving into your next home, knowing the completion date feels incredibly important.
The difficulty is that a completion date isn't something your conveyancer can decide alone.
It can only be agreed when everyone involved in the transaction is legally and practically ready.
The Short Answer
Your conveyancer can't confirm a completion date until all parties in the transaction are ready to proceed.
Before a date can be agreed, legal work must be completed, enquiries answered, mortgage funds (where applicable) arranged and, if there's a chain, every linked transaction must also be ready.
Until then, any suggested date is simply a target rather than a confirmed completion date.
The Explanation
A completion date isn't chosen by one person.
It's agreed between everyone involved in the transaction.
Before that can happen, several important stages usually need to be completed, including:
The buyer's legal investigations.
Replies to enquiries being received and approved.
Mortgage offers being issued (where applicable).
Searches and any additional investigations being completed.
Leasehold information being received (where applicable).
Contracts being approved by both conveyancers.
Every linked transaction within the property chain reaching the same stage.
Only once these matters have been dealt with can the parties discuss and agree a completion date.
Even then, everyone in the chain must be available on the same day.
This is why your conveyancer may sometimes be unable to give you a definite date, even though significant progress has already been made.
Common Questions
Can't you just give me an estimated completion date?
We can often give you an indication based on how the transaction is progressing.
However, until everyone is ready, any date remains an estimate and could change.
Why can't we just pick a date now?
Because other parties may still be waiting for mortgage offers, search results, replies to enquiries or information from third parties.
Choosing a date too early can lead to disappointment if something unexpected delays the transaction.
When will the completion date usually be agreed?
In many cases, the date is agreed shortly before Exchange of Contracts, once everyone is satisfied that they're ready to proceed.
Can I book my removals before the completion date is confirmed?
It's usually safer to wait until contracts have been exchanged and a completion date has been formally agreed.
Booking removals too early could result in cancellation or rearrangement costs if the date changes.
Top Tip
If you're making arrangements for removals, annual leave or school transfers, speak to your conveyancer first.
We'll let you know when it's appropriate to start making firm bookings.
Did You Know?
A property chain can involve several separate transactions.
Even if your own sale is ready, the completion date often depends on every linked transaction reaching the same stage.
Common Misconception
"My conveyancer already knows the completion date but isn't telling me."
Not at all.
If we could give you a confirmed completion date sooner, we absolutely would.
The reality is that the date depends on everyone involved reaching the finish line together.
The MA Lawyers Approach
At MA Lawyers, we understand how important it is to have as much certainty as possible.
Whilst we won't promise a completion date before it's ready to be agreed, we'll always keep you informed about the progress of your transaction and explain what still needs to happen before a date can be confirmed.
When the time is right, we'll work with the other conveyancers, estate agents and everyone else involved to agree a completion date that's suitable for all parties.
Our aim is to give you clear information and realistic expectations, helping you plan your move with confidence rather than uncertainty.
Related Articles
Why Is My Sale Taking So Long?
What Happens If I Have a Mortgage?
When Will I Receive My Sale Proceeds?
What Happens on Completion Day?(Buying a Property)
As your sale progresses, one question is never far away:
"When will I receive my money?"
Whether you're buying another property, paying off a mortgage or simply waiting for the funds to reach your bank account, it's completely understandable to want to know when the sale proceeds will arrive.
The good news is that, in most cases, the money is transferred on the day of completion. However, there are a few important steps that need to happen before the funds can be sent to you.
The Short Answer
Once your sale has completed, the buyer's conveyancer sends the purchase money to your conveyancer.
Your conveyancer will then:
Redeem any mortgage secured against the property (if applicable).
Pay any agreed estate agent's fees (where instructed).
Deduct any agreed legal costs and disbursements.
Transfer the remaining balance of the sale proceeds to your nominated bank account.
We'll provide you with a Completion Statement showing exactly how the money has been calculated before completion takes place.
The Explanation
Completion takes place when the buyer's conveyancer transfers the purchase money to your conveyancer.
Once those funds have been safely received, your conveyancer will carry out several important checks before sending your money to you.
This usually includes:
Confirming that completion has taken place.
Redeeming any mortgage on the property.
Paying any agreed fees and disbursements.
Preparing the final completion statement.
Transferring your remaining sale proceeds by bank transfer.
The exact time you receive the funds will depend on when completion takes place, how quickly the banking system processes the transfer and whether there are any other transactions linked to your sale.
If you're also buying another property on the same day, your sale proceeds will usually be used towards your purchase before any remaining balance is transferred to you.
Common Questions
Will I receive all of the sale price?
Not always.
If you have a mortgage, it will normally need to be repaid from the sale proceeds. Your legal fees, agreed disbursements and any other authorised payments will also be deducted before the remaining balance is transferred to you.
Can the money be sent to someone else's bank account?
For your security, we'll discuss your payment instructions with you during the transaction and explain any verification requirements before completion.
How will I know how much I'm receiving?
Before completion, we'll provide you with a Completion Statement showing the sale price, any deductions and the balance due to you.
Will I receive the money on the same day?
In most cases, yes.
Once completion has taken place and we've completed the necessary financial checks, we'll arrange for the balance due to you to be transferred as soon as possible.
Top Tip
If your bank account details change during the transaction, let your conveyancer know as soon as possible.
For your protection, we may need to verify any changes before completion.
Did You Know?
Your conveyancer doesn't simply receive the money and press "send."
Several financial checks must be completed first to ensure the correct amounts are paid to the correct people before the balance is transferred to you.
Common Misconception
"The sale money comes straight to me."
Not quite.
The purchase money is first received by your conveyancer, who must deal with any mortgage redemption, agreed payments and legal formalities before sending the remaining balance to you.
The MA Lawyers Approach
At MA Lawyers, we understand that completion day is often the day you've been waiting for.
Before completion, we'll provide you with a clear Completion Statement so you know exactly what to expect.
Once completion has taken place and the necessary financial checks have been completed, we'll arrange for your sale proceeds to be transferred to your nominated bank account as soon as possible.
If you're using the funds to buy another property, we'll ensure the money is transferred as part of your onward purchase in accordance with your instructions.
Related Articles
Why Do I Have to Complete So Many Forms?
What Happens If My Buyer Pulls Out?
Why Is My Sale Taking So Long?
What Happens on Completion Day?(Buying a Property)
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