What happens after my offer is accepted?

Offer accepted. Woohoo - it’s a great feeling! We deal with buyers across WA, and whether they’ve just secured their first home in Joondalup, had an offer accepted on a family home in Kallaroo, or finally gone under offer in Hillarys, it’s always an incredibly exciting time.

But once the excitement settles, most buyers ask the same question: “What happens now?”

The period between your offer being accepted and settlement is when most of the work occurs.  There’s often a lack of understanding of the steps that can lead to stress, missed deadlines, or costly mistakes. So, here is a clear, step-by-step guide that walks you through exactly what happens after you have an offer accepted in WA, and what you should expect as a buyer (with a few notes for any sellers reading along).

Step 1: The contract is binding (subject to agreed conditions)

Once both parties have signed the Offer and Acceptance (O&A), the contract is legally binding.  There is no cooling-off period in WA.  Both the buyer and seller are bound to any conditions that have been agreed to in the contract.  Common conditions include:

• Subject to finance

• Structural (building) and/or pest inspection

• Sale of another property

• Vacant possession

All of these conditions will have timeframes attached to them, and often the metaphorical timer commences as soon as the offer is signed. This is why it’s so important to understand what you’ve agreed to (and when).  In fact, many of our buyers choose to engage us as their settlement agent at the contract negotiation stage, so that we can walk them through all the timings and inclusions/exclusions before they’re locked in.

Step 2: Your settlement agent steps in

If you haven’t already engaged a settlement agent, this should happen immediately after acceptance (if not earlier).  Your conveyancer will:

• Open your matter and confirm all contract details

• Check names, property details and conditions

• Diarise all the key deadlines (like the deposit due date, finance, inspections, settlement)

• Liaise with the seller’s conveyancer and real estate agent

Your conveyancer will get in touch to advise of these key dates, and have some preliminary paperwork signed. This is your opportunity to ask any questions about the process, and clarify anything you’re not sure about.  There is no such thing as a silly question, so if you’re wondering about it, don’t be afraid to ask it!

Step 3: Finance approval period begins

If your contract is subject to finance, this is usually the first major milestone.  As the buyer, you’ll need to liaise with your broker to lodge your loan application (if not already done).  Part of this process will involve providing (what is often a lot of) documents, as requested by your bank or broker.

It is important to stay responsive during this process.  Delays here can put the contract at risk if finance isn’t approved on time.

Your settlement agent will track the finance due date and coordinate with your broker to request an extension if needed (subject to the seller’s agreement).  Once formal finance approval is issued and provided, the finance condition is satisfied.

It’s important to note that if the bank was to withdraw your finance approval after you have already satisfied the condition (e.g. due to loss of income or change of employment), you generally remain locked in to the contract.

Step 4: Building and other inspections are completed

If you’ve included a building or pest inspection condition, you must book your inspections promptly.  If copies of the reports are not provided to the seller by the due date, often this means you waive the benefit of the condition entirely.  Once the reports are available, be sure to review them carefully.  Your conveyancer can also go over them with you, in line with your specific contract terms.

It is important to note that often these reports raise maintenance or minor issues that aren’t covered by your contract.  Your conveyancer can guide you here as to what is and isn’t covered.  If there are major defects raised, your conveyancer can assist you in serving the appropriate notices to have the issues rectified or, if the seller declines to fix them, terminate the contract (if permitted under your condition).

Step 5: ID checks are completed

All buyers and sellers in WA must complete a Verification of Identity (VOI) check as part of the settlement process.  It’s important not to leave it until the last minute, as missing or mismatched ID is one of the most common causes of settlement delays.

With Anti-Money Laundering (AML) reforms coming to the property industry in 2026, ID checks will be required even earlier in the transaction, making this step increasingly important.

At North Shore Conveyancing, we have partnered with Scantek (and easyAML, for when the AML reforms commence) to provide a secure, seamless way for buyers and sellers to complete their ID check straight from their smartphone.

Step 6: The contract is lodged with RevenueWA

In WA, contracts must be lodged with RevenueWA for stamp duty assessment within two months of acceptance. Late lodgement can attract penalty tax.  Your settlement agent will lodge the contract and arrange payment of the duty (usually at settlement) on your behalf.

If you’re eligible for concessions (such as first home buyer relief), these are assessed as part of this process.

Step 7: Pre-settlement checks and preparation

As settlement approaches, your conveyancer will conduct a whole range of different tasks including:

• Order title searches and government enquiries

• Calculate council and water rate adjustments

• Liaise with your bank and the seller’s bank

• Prepare documents for electronic settlement

For sellers, this includes ensuring any mortgage discharge is ready, and the payout figure aligns with your expectations.

Settlement in WA is completed digitally via PEXA, with title updates lodged through Landgate.  Usually this occurs almost instantly, but occasionally title changes require manual processing which can add additional time.

Step 8: Final inspection

Buyers are usually entitled to a final inspection within the five business days before settlement.  This inspection confirms that:

• The property is in the same condition as when you signed

• Any agreed repairs have been completed

• Fixtures and inclusions remain in place

If something isn’t right, notify your settlement agent.  We can let you know what’s covered, and if necessary, arrange for it to be addressed by the seller before settlement.

Step 9: Settlement day arrives

Settlement day - this is the day funds are transferred, the title is updated, and the seller’s mortgage (if any) is paid out.  Put simply, it’s the day ownership legally changes hands.

Once settlement has gone through, your settlement agent will let you and the real estate agent know straight away, so that you can then coordinate the key handover.

What sellers should know after acceptance

While much of the settlement process is buyer-led, sellers also have responsibilities after acceptance, including:

• Applying for your ATO Clearance Certificate

• Signing discharge authorities early

• Ensuring the property complies with RCD & smoke alarm regulations

• Keeping the property insured until settlement

• Allowing access for inspections and valuations

• Vacating the property in line with contract terms

Delays in seller paperwork, especially with banks, are a common cause of settlement issues, particularly around busy periods like Christmas and Easter.

Common questions buyers ask after acceptance

Can I pull out after my offer is accepted?

There is no cooling off period in WA.  Only in very limited circumstances, usually where a contract condition hasn’t been satisfied (such as receiving a finance decline) and you act within the allowed timeframe.

What happens if finance is delayed?

Your settlement agent can request an extension, but the seller isn’t obliged to agree.

When do I contact my conveyancer?

Ideally, before you sign the contract, but at the latest, immediately after acceptance.

What if something changes during the process?

Always tell your settlement agent straight away. Early communication gives you more options.

FAQ: What happens after an offer is accepted in WA?

What’s the first thing I should do after my offer is accepted?

Engage your settlement agent and confirm your deposit, finance and inspection timeframes.

How long does settlement take in WA?

Typically, 28 to 42 days, but it depends on what’s been agreed in your specific contract.

Do I need to do anything during settlement?

Be responsive to requests from your bank and conveyancer, complete your ID check, and arrange your final inspection.

When do I get the keys?

If the property is vacant, immediately after settlement.  If the seller is living in the property, they have until 12pm the day after settlement to vacate and hand the keys over.

Just had an offer accepted and not sure what’s next?

North Shore Conveyancing supports buyers and sellers across Kallaroo, Joondalup, and surrounding WA suburbs with calm, clear guidance at every stage. Contact Katelyn today to make sure your settlement stays on track from day one.