This is the most common type of exchange for residential properties under 2.5 hectares.

Involves signing a contract and generally paying a 0.25% deposit. In some cases a full deposit is payable.

Gives you a five-business day period to conduct due diligence (pest and building inspections, finance approval, contract review).

If you change your mind, you forfeit the 0.25% deposit.

Happens immediately after a successful auction bid.

No cooling-off period, so due diligence should be completed before the auction.

Requires a 10% deposit and signing the contract on the spot.

Common for off-the-plan properties, unregistered land, and properties with pre auction offers.

No cooling-off period involved.

Requires completing due diligence before signing the contract.

Usually involves a 10% deposit.