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Yeah it's the conveyancing, surveys etc that are a fucking pita - if you're buying + selling you're probably 5k in the hole. I think you can get insurance to protect you but if you drop out (bc someones lowballed you by 20%) it would be void.
Its pretty similar to buying a business etc the costs are people's time so you can't really get away from it
Tenderloin
I'd say accepting a gazumping offer is equally as shitty as last-minute lowballing.
Ultimately I'd say the process of purchasing a property is a bit fucked. You can get so far along and incur so many costs with nothing actually being confirmed and that's the real problem. If this all falls through I'll be a few grand down plus a lot of hours invested in it.