The offer and acceptance contract, usually called the O&A, is the standard form used to buy and sell property in Western Australia. Once the seller accepts your offer you are bound by it. That makes the O&A a document to get right before you sign rather than something to work through afterwards.
Who writes the offer?
The seller’s agent usually writes the offer up for you, working from your instructions. That arrangement suits a straightforward purchase, because the O&A and the general conditions behind it are widely used and well understood across the industry. It won’t suit you if your purchase needs something the standard form does not cover.
What happens when the seller accepts?
You are bound from the moment the seller accepts your offer. If either side fails to do what the contract requires, the other can enforce the contract as it is legally binding. Western Australia has no cooling off period for the sale of residential property, so there is no window afterwards in which you can change your mind.
Can you change the standard conditions?
Yes. It is your offer, so you can add conditions and you can cross out parts of the printed form you do not want. A condition you add is usually called a special condition. The seller has to accept it before it forms part of the contract.
A special condition changes what you are legally obliged to do, which makes it drafting work rather than form filling. If your purchase needs a special condition, get advice on the contract before you sign it.
Who is looking after your side of it?
The agent acts for the seller: they are paid by the seller to sell their home. If a buyer wants advice about the contract they need to engage someone of their own. You can take the draft contract away and get advice on it before you submit it.
Does the offer have to be in writing?
Yes. A contract for the sale of land in Western Australia is not enforceable unless it is in writing, so anything agreed in conversation and left out of the written contract binds nobody. Anything you have been told about the property or agreed with the seller needs to appear in the contract.
Can you withdraw an offer?
You can generally withdraw your offer at any time before the seller accepts it. Once it has been accepted the contract is formed.
| Stage | What you can still change |
|---|---|
| Before you submit the offer | Everything. The wording, special conditions, price, settlement date |
| After you submit, before acceptance | You can generally withdraw the offer |
| After the seller accepts | Nothing, unless both parties agree to a variation in writing |
Frequently asked questions
Is there a cooling off period in WA?
No. Western Australia has no cooling off period for the sale of residential property, so the contract binds you from acceptance.
Can I cross out part of the printed form?
Yes. A pre-printed term is still a term you are being asked to agree to, so you can strike it out. The seller then decides whether to accept the offer as you have written it.
What is the difference between the O&A and the general conditions?
The O&A is the page carrying the parties, the property, the price, the dates and any special conditions. The general conditions are the standard terms that apply to every contract on that form. They are in a separate document to the O&A and are incorporated by reference. You should be given a copy with the draft contract.
Talk to us before you sign
We act for buyers and sellers on Perth property settlements. We can draft your contract or review one prepared by the Seller before you sign it. Call the settlements team on (08) 9220 4430. Our fixed prices are published, so you know what it costs before we start. See real estate settlements.
Related: Property checks to make before you sign a contract in WA.
This article is general information and not legal advice. Every property transaction turns on its own facts.
