Once all signatures and initials have been obtained and you have been informed of that fact, then the document becomes a legally binding contract. At this point you will need to pay the agreed deposit which is held in the agency’s trust account until settlement. It is then time to submit the offer to your bank / broker and obtain finance approval if that is a condition of the offer. You will also need to satisfy any other conditions that are listed on the offer, for example, termite and building inspections.
