From offer to exchange.
As the seller, you're committed the moment contracts are exchanged, with no cooling-off of your own. Here's how to get there, and what to have ready first.
Get your contract ready first
In NSW your agent can't advertise your home until a lawyer or conveyancer has prepared the contract. Sorting it early means you're ready the moment a buyer is.
Your contract and its documents
The contract must come with these attached before it goes to buyers:
- A title search
- A planning certificate from the council
- A drainage diagram & sewerage diagram
- Any easements, covenants or restrictions on the land
- The smoke alarm and loose-fill asbestos notice
- A pool certificate, if you have a pool or spa
- For a unit or townhouse, the body corporate documents, including the common property title search and the strata plan and by-laws
- A copy of the lease, if the property is tenanted
What to tell your agent
Your agent has to tell buyers about certain facts, so they'll ask you. Be upfront about things like:
- Flood or bushfire damage in the last 5 years
- The home being on the loose-fill asbestos register
- Combustible cladding orders on the building
- Any significant health or safety risks
- What's included and excluded in the sale, like fixtures, appliances and window furnishings
- Any renovations or improvements you've made, and whether they had council approval
Start these early
- ATO clearance certificate. Every seller needs one, or the buyer must hold back 15% of the price at settlement. It can take up to 28 days to issue.
- ID checks. Since July 2026, agents and lawyers must formally verify who you are before the sale can go ahead.
- Your mortgage. Ask your bank for its discharge form now. Most need a couple of weeks' notice.
- Declutter. Clear out unwanted items, or put them in storage, so the property looks clean and ready for sale.
Five steps from offer to exchange
Here's what happens on a private sale in NSW, from the seller's side.
- Step 1
Your lawyer prepares the contract
We order the searches, attach the required documents and get the contract to your agent, so marketing can start. We'll also flag anything a buyer's lawyer is likely to query.
- Step 2
Your agent brings you offers
Ask for offers in writing so you can compare them properly. A strong offer is about more than price:
- Deposit amount
- Settlement date that suits your move
- Conditions, or none
- Cooling-off, or a 66W certificate
- How ready the buyer is to exchange
- Step 3
Price agreed: the lawyers settle the terms
Your agent sends the agreed price and details to both lawyers. The buyer's lawyer may ask for changes to the contract. We negotiate them for you and only agree what you're comfortable with.
!Until exchange, the buyer can still walk away. A quick, clean exchange keeps your sale on track. - Step 4
The buyer signs and pays the deposit
- The deposit is usually 10% of the price, held in trust until settlement.
- You can accept a smaller deposit, but if the buyer doesn't settle, that smaller amount is what's at stake.
- With a cooling-off period, buyers often pay 0.25% on exchange and the rest before cooling-off ends.
- During cooling-off, the buyer can pull out of the sale for any reason at all. If they do, you keep 0.25% of the price.
- You can ask the buyer for a section 66W certificate, which means no cooling-off.
- Step 5
You sign and contracts are exchanged
From the moment the signed copies are swapped, you're bound to sell.
The buyer's cooling-off period, if there is one, ends at 5pm on the fifth business day, calculated from the day after exchange. Settlement usually follows about six weeks later.
Let's work out what's holding you back.
Signing is a big moment, because there's no going back for you once you exchange. Here's what sellers ask us most, and how we help.
“I haven't found my next place yet.”
We can ask for a longer settlement, or a condition that lets you use the deposit towards your next purchase. Buying with us too? We'll line both up.
“The buyer wants a cooling-off period.”
That's normal on a private sale. If they pull out, you keep 0.25% of the price. If certainty matters more, you can ask for a 66W instead.
“I'm not sure the buyer can settle.”
Ask your agent about their finance and deposit. A full 10% deposit and no finance condition is the strongest position for you.
“The buyer's lawyer wants changes.”
We'll tell you which requests are routine and which shift risk onto you, so you only agree to what makes sense.
“Is my contract complete?”
If a required document is missing, the buyer can pull out within 14 days of exchange. We make sure everything is attached before buyers see it.
“The buyer wants a smaller deposit.”
You can agree to it, or to a deposit bond. Just know a smaller deposit means less at stake if the buyer doesn't settle.
Talk to us before you exchange.
Call or text us with what's on your mind. We'll talk you through the offer and the contract before you commit.
Important to remember
- You're bound from exchange. Sellers have no cooling-off.
- The buyer's cooling-off starts the day after exchange.It runs for 5 business days, ending at 5pm. If they pull out, you keep 0.25% of the price.
- There's no cooling-off at auction.Or for a sale on auction day after the property is passed in.
- A missing required document gives the buyer a way out.They can pull out within 14 days of exchange.
Sort your contract and clearance certificate before your first open home. When the right offer lands, you'll be ready to exchange that day.
Get your contract ready before you list
A NSW property lawyer prepares your contract, handles the exchange and sees you through to settlement.
- 1Tell us about your property and when you plan to list.
- 2We prepare your contract and send it to your agent.
- 3We negotiate the terms with the buyer's lawyer.
- 4We handle exchange through to settlement.