Once signing the agreement, both the vendor and purchaser are under a legal obligation to close. If you decide not to for whatever reason, the purchaser has the right to sue. If the purchaser decides to walk away from the deal, you can claim the purchaser's deposit or sue for damages.
Just Because Your House Has Sold, That Isn't the End
Chances are you've bought a new home, or are in the process of looking for one. While you already have experience with the home-buying process, we have a comprehensive first-time buyers' guide has all the information, calculators, worksheets, checklists, calendars and tips you need to assist you with your new home purchase.