08/09/2026
A debate for the property industryโฆ
Recently, I had a sale where the buyer pulled out the day before completion.
After weeks of work, negotiation, due diligence and preparation, the deal collapsed at the final hurdle.
It got me thinking.
Should we exchange on day one and properly lock everyone in?
Should more work be completed before offers are accepted?
Would that protect:
โข The agentโs time and effort?
โข The vendorโs position?
โข The buyer from gazumping?
โข The buyer from a vendor changing their mind?
Surely a more committed process could make things better for everyone.
Or would we then become too accountable, in our polite English society, to simply pull out at the last minute?
Thereโs a balance to find. Buyers need proper due diligence. Vendors need confidence that a buyer is serious. Agents need a process that recognises the time and cost involved in getting a transaction to the line.
Because when someone pulls out the day before completion, it can feel a bit like dipping a teabag for too longโฆ then deciding youโve come this far and drinking it anyway.
Not ideal, but somehow youโve got to swallow it.
What do you think?
Should the process change, or is this simply part of buying and selling property in England?