What to Do After Your Offer Is Accepted in NSW
Offer accepted in NSW? Five steps from accepted offer to exchange, ending with the 5 business day cooling-off period.
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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.
Key Takeaways
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.
1What details does the agent need?
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.
2When should you contact us?
While you wait for the updated contract
3When do you pay 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.
4How do you sign and exchange?
Contracts are exchanged
Exchange of contracts is when the property officially comes off the market. Once you exchange, no one else can make an offer.
5What happens during the cooling-off period?
Your last chance to change your mind
Keep reading
- Holding deposits in NSW: why there’s no such thing
- When do I pay the deposit to the real estate agent in NSW?
- What is exchange of contracts in NSW?
- What is a cooling-off period in NSW, and is it negotiable?
- Gazumping in NSW: can you be outbid after your offer is accepted?
- Cooling-off period vs finance clause: what each one actually does
- Why you should get an insurance quote before you buy in NSW
- How to prepare for settlement in NSW
Ready to get started?
Call us once your offer is accepted and we will send your Buyer Instructions Form.
