Once a buyer’s offer is accepted on your property, a legally binding contract of sale is created. This marks the beginning of a structured process with several key steps to facilitate the transfer of ownership.
As of December 2025, in Melbourne, the next stage typically involves a cooling-off period – currently three business days – allowing the buyer to potentially withdraw from the contract, although penalties may apply. Simultaneously, your solicitor or conveyancer will begin the necessary legal work, including conducting title searches and preparing the paperwork for settlement. The buyer’s lender will also begin their valuation and loan approval process. In 2026, we’re seeing buyers in the Eastern Suburbs, particularly around Balwyn and Doncaster, favour properties with pre-building and pest inspections already completed, which can streamline this phase. A deposit, usually 5-10% of the purchase price, is paid by the buyer. The contract outlines the settlement date, generally 30-60 days from acceptance. Throughout this period, Fletchers provides regular updates via our client technology, keeping you informed of progress. Expect communication regarding any conditions of sale, such as building inspections or financial approvals. Currently in Melbourne, typical preparation costs for a property ready for sale range from $2,000 to $8,000 for styling, and $500 to $1,500 for professional photography.
Accepting an offer is a significant milestone, initiating a carefully managed process leading to the successful sale of your property.