Selling: You’ve Accepted an Offer. Here’s What Happens Next
Twelve steps stand between accepting an offer and exchanging contracts. Here’s what we do at each one, and what we need from you.
Congratulations, you’ve accepted an offer on your property. It can feel like the hard part is over, but there’s still a defined process between now and a legally binding exchange of contracts, and knowing what’s coming helps you respond quickly when we need something from you. Here’s exactly what happens, step by step.
At a glance
- Twelve steps run from the agent’s sales advice through to contract exchange, most of them handled by us.
- The buyer’s legal team will send questions about your property. Fast, complete answers keep the whole process moving.
- Nothing exchanges without your final sign off. Any changes requested after exchange may be refused, or cost extra to negotiate.
The twelve steps from offer to exchange
Some of these happen quickly, some take a few days depending on how fast everyone responds. Here’s the full sequence.
In plain English
Exchange is the moment the sale becomes real. Until then, either side can still walk away, no matter what has been agreed with the agent. At exchange, the two signed contracts are swapped: the buyer is committed to buying, and you are committed to selling. Everything in the twelve steps below is about getting you safely to that one moment.
Initial sales advice
Your real estate agent sends us, and the buyer’s conveyancer, an official email confirming the sale details.
- The agreed sale price
- Details of the buyer and their conveyancer
- Any special conditions: cooling-off extensions, extra inclusions or exclusions, settlement date, finance clauses
We confirm the sales advice with you
We’ll call to check the agent has passed on the right details before we go any further. Mistakes on a sales advice do happen, and catching one now avoids a bigger problem later. We won’t send the contract to the buyer’s conveyancer until you’ve confirmed it’s accurate.
Contract updated and sent to the buyer’s conveyancer
We update the contract with the buyer’s details, attach the correct supporting documents, and send it through for their review and signing.
Buyer pays their initial deposit
The buyer pays at least 0.25% of the purchase price to the real estate agent, who holds it in trust and confirms receipt. We’re notified once it’s in. The rest of the deposit follows before the cooling-off period ends.
“An accurate sales advice at step one means an accurate contract straight away, and that means a quicker exchange for you.”
The buyer’s legal team reviews the contract
They go through everything in detail, which often raises questions about the property. Some of those we can answer ourselves; others need your input.
Question and answer period
The buyer’s conveyancer may have questions about the property itself. We’ll reach out by phone or email to get your answers. This is the step where a prompt reply from you makes the biggest difference to how quickly things move.
Contract updated with the agreed answers
We fold everything from the Q&A back into the contract, so any special conditions or requirements are clearly documented and both sides are working from the same version.
Halfway there. From here it’s your review, both signatures, and one final confirmation before exchange.
Your turn to review the contract
We send you the updated contract with a clear summary, key points highlighted, including the final price. This is your chance to raise any last changes before it goes further.
Buyer signs
The buyer’s conveyancer manages their client’s signing and sends us the signed contract.
You sign
Once the buyer’s signed contract is with us, we send yours through. It’s a simple, secure process, and the signed document comes straight back to us.
Authority to Exchange: your final confirmation to sell
We email you to confirm you’re ready to exchange. This is your last chance to raise a concern before contracts become binding, and we need your clear approval. Nothing exchanges without it.
Contract exchange
We formally exchange contracts with the buyer’s conveyancer. The sale is now legally binding, and we’ll confirm it with you straight away.
What slows exchange down
Slow replies. Every step above depends on someone answering promptly. Keep your phone and email close during this window.
Leaving changes too late. Now is the time to raise anything you’re unsure about. Once contracts exchange, the buyer can reject changes, and negotiating them can mean extra legal costs.
Unclear answers to the buyer’s questions. A vague or incomplete answer usually means a follow up question, and another round trip.
The short version
Most of these twelve steps are ours to manage. The two things genuinely in your hands are answering questions about the property promptly, and giving your contract and your exchange one careful, final read before you sign off. Do both quickly and this process moves as fast as it possibly can.
Questions about your sale?
Reach out to Justin, Julie, Amanda or Nicole, we’re happy to walk you through where things stand.
