Generally, yes, you can withdraw your offer to purchase a property in Victoria before signing the Section 32 and the contract of sale. However, it’s not quite as simple as just changing your mind, and the specifics depend on the stage of the negotiation as of December 2025.
Currently in Melbourne, the process typically involves a period of negotiation after your initial offer is presented to the vendor. Until the vendor formally accepts your offer in writing, you retain the right to withdraw. Once a vendor provides a ‘counter offer’ – changes to your initial offer – this effectively cancels your original offer, and you can then choose to accept, reject, or make another counter offer. In the Melbourne Eastern Suburbs, where competition for family homes near schools like those in Balwyn and Doncaster is often strong, this negotiation phase can be quite dynamic. It’s important to realise that verbal agreements are not legally binding. As of December 2025, a typical sales campaign runs for 4-6 weeks, with a buyer inspection period of 2-4 weeks, so timing is crucial. While uncommon, a vendor can request a signed offer to demonstrate serious intent, but this doesn’t usually become a legally binding contract until the Section 32 is provided and the contract is fully signed by both parties. Fletchers emphasises clear communication throughout this process to ensure all parties understand their position.
Withdrawing an offer before a formal contract is signed avoids legal obligations, but it’s essential to understand the negotiation stages to avoid any misunderstandings.