From offer to signed contract.
As the seller, you're committed the moment you sign, 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 Victoria a buyer must receive your signed Section 32 Vendor Statement before they sign the contract. Having both ready before you list means you're ready the moment a buyer is.
Your contract and Section 32
Your Section 32 usually includes:
- A title search and title plan
- A planning certificate showing zoning and overlays
- Council rates, water rates and land tax details
- Any easements, covenants or restrictions on the land
- Building permits issued in the last 7 years
- Any notices or orders affecting the land
- For a unit or townhouse, the owners corporation certificate and rules
- A copy of the lease, if the property is tenanted
What to tell your agent
Your agent can't mislead buyers about the property, so they'll ask you. Be upfront about things like:
- Flood, fire or storm damage
- Building work done without a permit, or by an owner-builder
- 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 signed contract
Here's what happens on a private sale in Victoria, from the seller's side.
- Step 1
Your lawyer prepares the contract
We order the searches, prepare your contract and Section 32, and get them 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
- Whether a cooling-off period applies
- How ready the buyer is to sign
- Step 3
Price agreed: the terms are settled
Your agent records the agreed price and details in the contract. The buyer's lawyer may ask for changes before they sign. We negotiate them for you and only agree what you're comfortable with.
!Until the buyer signs, they can still walk away. A quick, clean signing 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.
- The buyer also signs to confirm they received your Section 32 before signing the contract.
- On a private sale the buyer has 3 clear business days to cool off, starting when they sign. If they pull out, you keep $100 or 0.2% of the price, whichever is more.
- There is no cooling-off at a public auction, or within 3 clear business days before or after one.
- Step 5
You sign and the contract is binding
Once you sign the contract the buyer has signed, you're bound to sell. Your agent gives both sides a signed copy.
The buyer's cooling-off period, if there is one, runs for 3 clear business days from when they signed. Settlement usually follows 30 to 90 days 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 sign. 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 arrange early release of the deposit towards your next purchase. Buying with us too? We'll line both up.
“The buyer wants a cooling-off period.”
That's the law on a private sale in Victoria. If they pull out, you keep $100 or 0.2% of the price, whichever is more. If certainty matters more, consider selling at auction, where there's no cooling-off.
“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 your Section 32 is missing or wrong, the buyer may be able to end the contract any time before settlement. We make sure it's complete 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 sign.
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 once you sign. Sellers have no cooling-off.
- The buyer's cooling-off starts when they sign.It runs for 3 clear business days. If they pull out, you keep $100 or 0.2% of the price, whichever is more.
- There's no cooling-off at auction.Or for a sale within 3 clear business days before or after a public auction.
- A missing or wrong Section 32 gives the buyer a way out.They may be able to end the contract any time before settlement.
Sort your contract and clearance certificate before your first open home. When the right offer lands, you'll be ready to sign that day.
Get your contract ready before you list
A Victorian property lawyer prepares your contract and Section 32, handles the signing and sees you through to settlement.
- 1Tell us about your property and when you plan to list.
- 2We prepare your contract and Section 32 and send it to your agent.
- 3We negotiate the terms with the buyer's lawyer.
- 4We handle signing through to settlement.