One you've agreed on a price it's time to sign a Contract of Sale:
Most often, it is the buyer who makes an offer by signing a contract document, which is delivered to the seller, usually by an agent. When a seller alters the terms of a buyer’s offer, initials the changes and returns it to the buyer – usually via an agent – the seller is making a counter offer.
When the seller accepts a buyer’s offer, a binding contract is created. In Queensland only one contract document is required. The contract documents signed by the buyer are referred to as the offer; and a buyer must be prepared to proceed if the offer is accepted by the seller – which is signified by the seller signing the contract.
The seller must sign the contract in the presence of a witness, which is usually the agent if the signing is done in person.
It is also essential that all parties to the sale initial all alterations or changes to the contract.
