Here’s What To Do After Your Offer Has Been Accepted
Offer accepted in NSW? Here are the five steps to exchange, from giving the agent your details to the 5 business day cooling-off period. Tick each one off as you go.
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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.
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
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
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