What is Contract of Sale?
The Contract of Sale is the legal agreement between buyer and seller setting out the property, purchase price, settlement date, deposit, and any special conditions. Once signed by both parties (and cooling-off periods expire, if any), it's legally binding.
Why it matters for you
Always have your conveyancer review the contract before you sign. Special conditions can include finance approval clauses, building/pest inspection clauses, or fixture lists. Once signed without these, you're committed.
Last updated: April 2026