Updated October 2026 · Fraser Bond
Buying & selling · Legal
Pulling out before exchange
Not bindinguntil exchange
Costsyou may lose
After exchange10% deposit at risk
Fall-throughshow to avoid
In short: In England and Wales, either side can pull out of a property sale at any time before contracts are exchanged, without a legal penalty. You may lose money already spent, such as survey, legal and mortgage fees. After exchange, the contract is binding: a buyer who pulls out usually loses their deposit (often 10%) and may face a claim for further losses, and a seller who pulls out can be sued. Scotland works differently. Fraser Bond progresses sales actively to reduce the risk of fall-throughs.
| Stage | Buyer pulls out | Seller pulls out |
|---|---|---|
| Offer accepted | No legal penalty; lose costs spent | No legal penalty; buyer loses their costs |
| Before exchange | No legal penalty; lose costs spent | No legal penalty, unless a lock-out agreement says otherwise |
| After exchange | Usually lose deposit; may owe more | Breach of contract: can be sued |
Pulling out of a sale in England and Wales
What could a buyer lose before exchange?
Total at risk–
Some costs, like mortgage fees, may be refundable or transferable. Check with your lender and solicitor.
Reduce the risk of a fall-through
Selling with Fraser Bond
- Buyers vetted for finance and position
- Proactive sales progression
- Regular updates for both sides
- Quick re-marketing if a sale fails
Frequently asked questions
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Can I pull out after my offer is accepted?
Yes, until exchange, without a legal penalty.
What is gazumping?
When a seller accepts a higher offer after agreeing a sale but before exchange.
What happens if I pull out after exchange?
You are in breach of contract and usually lose your deposit.
Can Fraser Bond help my sale go through?
Yes. We progress sales actively from offer to completion.
