Can A House Sale Fail After Exchange? (What If Either Party Pulls Out?)
In England and Wales, once both parties have signed and exchanged contracts, it is extremely difficult for either party to pull out of the agreement. If it’s the buyer who pulls out after exchange of contracts, they will lose their deposit and could be sued by the seller. Whereas if it’s the seller fails to complete, the buyer may rescind the contract and is entitled to have their deposit returned with interest.
