Five Steps to Selling Your Property Privately in New South Wales

Selling your home privately in New South Wales is not only possible—it’s completely legal and can save you thousands in commission fees. While navigating the process without an agent may seem daunting, following these five simple steps will ensure a smooth and successful sale.

1: Prepare the Contract of Sale

The first step in selling your property is drawing up a Contract of Sale—a legally binding document that outlines all key details of the transaction. It must include:

• Title documents

• Relevant property certificates

• Property details

• Buyer’s rights and conditions

This contract allows prospective buyers to assess the terms before making an offer and serves as the official agreement for finalizing the sale. To ensure accuracy and compliance with NSW property laws, it’s advisable to work with a qualified solicitor or conveyancer.

2: Set Your Price and List Your Property

Determining a competitive and realistic price is crucial to attracting buyers. Consider these methods to establish your property's value:

• Get an independent valuation from a licensed expert

• Compare local real estate listings for similar homes

• Consult estate agents for general pricing advice

Once your price is set, list your property across multiple platforms to maximize visibility. Advertising through real estate websites, social media, and traditional methods such as newspaper ads and "For Sale" signs can increase exposure and generate interest.

3: Receive and Accept an Offer

When offers start coming in, carefully assess each one before proceeding. Buyers may submit offers through a signed Contract of Sale—either matching your asking price or proposing an alternative amount.

Before officially accepting an offer:

• Verify the buyer’s financial capability

• Consider requesting a deposit to confirm their commitment

• Ensure both parties fully understand the contract terms

While negotiations may occur, the deal is not legally binding until both buyer and seller sign the contract.

4: Exchange Contracts & Cooling-Off Period

Once both parties sign the Contract of Sale, the exchange process begins. Copies of the signed contract are distributed—either through solicitors, via mail, or in person.

In New South Wales, buyers are entitled to a five-day cooling-off period, during which they may withdraw from the agreement. If a buyer chooses to exit the contract, they typically pay a percentage of the agreed price as a penalty.

Note: The cooling-off period applies to buyers only—once sellers sign and exchange contracts, they are legally bound to proceed with the sale.

5: Final Settlement & Completion

Once the cooling-off period concludes, the sale is finalized, and the buyer is required to settle the payment. The settlement date usually falls within 30 to 90 days after contract exchange but depends on mutual agreement.

Payments can be processed directly or through a solicitor’s trust account. Sellers simply need to provide payment details and await confirmation before transferring ownership to the buyer.

Once the process is complete—congratulations! You’ve successfully sold your property in NSW without an agent and saved thousands in commission fees.

FAQs

Where is the best place to list a private property for sale in NSW? The more platforms you use, the higher your chances of finding a buyer. Listing on major real estate websites, social media, newspapers, and local classifieds will help maximize exposure and generate more enquiries.

Should I use a lawyer when selling my property? Although not legally required, using a solicitor or conveyancer is highly advisable. A legal professional can ensure the contract complies with NSW laws, protect your interests, and streamline the transaction to prevent complications.

Do I need a real estate agent to sell my property in New South Wales? No—selling your property privately is completely legal and entirely possible with the right approach. By managing your sale independently, you avoid high commission fees, maintain control over the process, and directly negotiate with buyers.

Selling your home privately can be a cost-effective and empowering experience. If you're ready to list your property and take full control of the sale, visit salebyhomeowner.com.au for expert resources and guidance.