Exchange of contracts

When an offer is accepted or property is bought at auction, the buyer and seller each sign a copy of the contract of sale and keep a copy each, which is why it’s an ‘exchange’ of contracts. This is the stage when the buyer will need to pay the deposit to the seller and marks a formal agreement that the sale will go ahead

Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.
Get in touch
We're here to help! If you have a specific question, you can call us on Monday-Friday from 8.30am-6.00pm (Sydney time).