Booklet: Buying Property in NSW (Chapter 6 – Exchange)
Below is Chapter 6 of our ‘Buying Property in NSW’ booklet. To read the other chapters of our booklet, click the links below:
Once you have completed your due diligence and negotiated the terms of the contract, you are ready to proceed with the exchange process.
For private treaty sales, exchange usually occurs by each party signing a copy of the contract, swapping their counterparts with each other and inserting the date of the swap in their signed counterparts. This means the vendor ends up with a copy signed by the purchaser, and vice versa. The ‘swap’ typically occurs electronically (i.e. by email). The Vendor’s agent or lawyer typically oversees the exchanging and dating of the contract counterparts.
For auction sales, exchange usually occurs on site after the end of the auction because both parties are present. The agent will get both parties to sign two copies of the contract, and each party will keep a signed copy.
To download a PDF of our booklet, enter your email below.
The information contained in this post is current at the date of editing – 21 August 2024.
Our Great Lawyer Guarantee
We want to be part of your team over the long term. We'll achieve this by sticking closely to the following principles:
- We'll listen carefully to understand what you want to achieve. Then we'll thoroughly explain our advice and step you through the documents. You can be sure you'll know the full consequences.
- Our lawyers work as a team, so someone will always be available to answer your questions, or point you in the right direction. You will also benefit from a range of perspectives and experience.
- One of our key goals is to pass on as much knowledge as we can, so you can make your own informed decisions. We want to make you truly independent.
- We only do what we're good at. You can be confident that we know what we're doing and won't pass on the cost of our learning.
- For advice and documents, we provide a fixed or capped quote so you don’t take price risk. If you're in a dispute, we'll map out the process and costs so you know what to expect.
- We're not in this game for our egos. We're in it for a front row seat to witness your success.
We measure our success on how efficiently we have facilitated your objectives, enhanced your relationships, and reduced the level of stress for all involved.
If we sound like people you can work with, call us now on 1300 654 590 and speak directly with a great lawyer.
