What happens after your offer is accepted in NSW?
You give your details to the agent, pay the deposit, sign and exchange contracts, then get a 5 business day cooling-off period. Tick each item off as you go.
At a glance
Does an accepted offer take the property off the market? No. Only exchange of contracts does that.
What locks in the property? Paying the 0.25% deposit and signing the contract, then exchanging.
What happens after exchange? A 5 business day cooling-off period, then you head to settlement.
1Give your details to the agent
Do this right after your offer is accepted
The agent needs your details to prepare the Sales Advice, the document that kicks off the whole process.
2Get in touch with us
While you wait for the updated contract
3Pay the deposit
The sooner, the better
You will not lose any of it until contracts are exchanged, and paying early gets you to exchange faster.
4Sign and exchange
This is the big one
Exchange of contracts is when the property officially comes off the market. Once you exchange, no one else can make an offer.
5Cooling-off period
Your last chance to change your mind
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