Once the property is sold, the next stage is for the buyer to pay the required deposit and exchange contracts.
There will be two copies of the contract, one for you and one for the buyer.
Both you and the buyer will each sign a copy before they’re exchanged.
Exchanging contracts legally completes the sale of a property.
It’s important to note that properties that are sold at auction, on the day of the auction or unconditionally through a private treaty sale (by way of a 66W certificate) have no cooling off period, which means that once your property has been sold, it’s officially been sold.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
