Exchange doesn't always happen when it's supposed to. There are lots of legal issues that can hold up a chain. Some are easy to rectify, others require patience and luck.
Although it is not common, a house sale can fall through even after exchange of contracts. This can be due to financial delays with mortgages or missing documents.
It is unlikely that a seller or buyer will pull out of the sale at this point as a buyer will lose their deposit, and a seller will be liable for damages.
This will depend on the type of solicitor you are using. If you are using a no sale, no fee solicitor you won’t have to pay the legal fees but will need to pay for any disbursements.
You can compare conveyancing quotes on reallymoving to find a solicitor that is right for you.
Compare moving quotes in 4 simple steps