realestate sale

Hi,
On selling property who signs the contract first,the buyer or the seller,or doesnt it matter.
Neil

I think technically is 'exchanging' contracts, so it doesn't matter, but I think usually the buyer will head into the real estate office, sign the contract, the agent let the sellers solicitor know, who then gets sent the contract and contacts their client to sign theirs. Don't really think there is a right or wrong way - both need to be signed with the same information to get the ball rolling.

different procedures in different states so wait for a qld reply

We've bought and sold once in Queensland and from what I remember, when we sold, the agent brought us a contract which was a signed offer from the purchasers, which we then accepted and signed.

So I would say the purchaser signs first.

Geez, I honestly can't remember who signed our contract first. I do know that it went back and forth a couple times as we both made amendments to the contract and we both signed the amendments. The changes were negotiated first and then written into the contract.

cheers
Wendy

I have sold and purchased in Queensland and generally the buyer puts down the offer and signs to that when it is accepted the seller then signs as once both parties have signed it is a valid contract. So the seller would generally only sign to a price they were happy to sell for. Or personally I would not be trusting the realestate with a signed contract without a genuine price.

Generally buyer first but it doesn't matter in which order it needs both parties to sign for the contract to be binding on both. You don't need a written contract at all under common law just a verbal offer and acceptance is adequate, but trying to enforce a verbal contract if there are not witnesses in a dispute is almost impossible.

I second Echidna - it varies state by state.

We're currently buying and selling, so I spent some time googling conveyancing, and there are significant differences in the process according to which state.

Seriously, you should be asking this question of your solicitor/conveyancer, who you'll be paying to act on your behalf.

Cheers,
Andrew

In NSW there can be offer and counter-offer, but nothing counts until two contracts are exchanged - one signed by vendor, one by purchaser.
Some states require the offer to be in writing, and the sale is on once the vendor signs the offer. Other states have other ways ...

thanks all,

Have contacted solicitor and his advice is that it can be signed by either party first but better for purchaser to sign first.

When we bought we completed the contract and signed it. The purchaser made a few changes (they thought our price offer was too low - we had to try) and signed. We initialled their changes indicating agreement, which then made the contract binding.

peter