I am in the process of buying a flat in London. I have had the valuation done and paid a £200 setup fee to my solicitors. However due to my ill health at the moment, I am going to have to pull out of buying the flat. I am due to exchange contracts sometime next week but I haven't signed anything yet apart from a few documents my solicitor sent me at the start of the process i.e. application form, etc. If I pull out will I still have to pay the full conveyancing fees my solicitor quoted at the beginning, even though we haven't exchanged contracts yet? Or can I walk away without incurring any extra costs? Also is ill health a good enough excuse to pull out or should I just put it down to an unsatisfactory valuation?
Thanks!
Thanks!