Under Offer vs Under Contract vs Sold: what each signboard sticker means
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The short answer: the stages run in this order.
- Under Offer: the seller has accepted an offer, but nothing is final yet.
- Under Contract: a contract has been signed, but it can still fall over during cooling-off or if a condition like finance isn't met.
- Sold: the contract is unconditional, so the sale will go ahead.
- Settlement: comes a few weeks after Sold, when the money is paid and the keys change hands.
Last checked: October 2026. This is general information, not legal advice. For a particular sale, check with a solicitor or conveyancer.
What each signboard sticker means
| Sticker | What it usually means | Can the sale still fall through? |
|---|---|---|
| Under Offer | The seller has accepted an offer. Contracts may not be signed yet, or the deal is waiting on conditions. | Yes. Other buyers may still make offers. |
| Deposit Taken | The buyer has paid a deposit to show they're committed. | Yes, until the contract is unconditional. |
| Under Contract | Buyer and seller have signed the contract. It's in the cooling-off period or waiting on conditions such as finance or a building and pest inspection. | Yes, if the buyer cools off or a condition isn't met. |
| Sold | The contract is unconditional: cooling-off has ended and every condition is met or waived. A property bought at auction is sold on the day. | Rarely. The sale is binding. |
| Leased | A tenant has signed the lease. | Rarely. |
The wording varies between states and agencies. Some use Under Offer and Under Contract to mean the same thing. In Western Australia, a signed offer and acceptance is itself the contract, so Under Offer there often means a contract is already in place. Whichever words you use, the sticker should match where the sale is really at. The Australian Consumer Law doesn't allow misleading signs, so most agents hold off on Sold until the contract is unconditional.
When to put each sticker up
- Offer accepted: add an Under Offer sticker, if your agency uses it. This tells other buyers there's interest without saying the property is gone.
- Contracts signed or exchanged: switch to Under Contract.
- Cooling-off over and conditions met: add the Sold sticker. Many agents also share a Just Sold photo at this point.
- After settlement: take the board down within the time your state or council allows. See our signboard rules by state.
A round sticker on the corner of the board is quick to swap at each stage. A full-width strip suits the final Sold. See which size Sold sticker to use.
Cooling-off periods by state
Cooling-off is the short window after signing in which a buyer can pull out, usually for a small penalty. It's the main reason Under Contract comes before Sold. In every state, there's no cooling-off when you buy at auction.
| State | Cooling-off period for a private sale | Source |
|---|---|---|
| NSW | 5 business days after exchange (10 for off-the-plan). A buyer who pulls out forfeits 0.25% of the price. | NSW Government |
| VIC | 3 business days. The buyer gets a refund less $100 or 0.2% of the price, whichever is more. | Consumer Affairs Victoria |
| QLD | 5 business days. The seller can keep up to 0.25% of the price. | Queensland Government |
| SA | 2 clear business days, starting from the later of signing the contract and receiving the vendor's statement (Form 1). | SA Law Handbook |
| ACT | Until 5pm on the 5th working day. | Civil Law (Sale of Residential Property) Act 2003 |
| NT | 4 business days from when the contract is signed and exchanged. | NT Government |
| WA | None set by law. One only applies if it's written into the contract. | WA Consumer Protection |
| TAS | Check the contract with a conveyancer. We couldn't confirm a standard period from an official source. |
Frequently asked questions
Is Under Offer the same as Under Contract?
Not quite. Under Offer usually means an offer has been accepted but the deal isn't binding yet. Under Contract means a contract has been signed, though it can still end during cooling-off or if a condition isn't met. Some agencies use the terms the same way, so ask the agent if you're a buyer.
Can I still make an offer on a property that's Under Offer?
Often, yes. Until a contract is signed and unconditional, the seller can usually still consider other offers. Ask the agent.
When should an agent put up the Sold sticker?
When the contract is unconditional: cooling-off has ended and every condition is met or waived. At auction, that's on the day.
What's the difference between Sold and settled?
Sold means the contract is binding. Settlement is when the balance is paid and ownership passes to the buyer. It's usually several weeks later, and the date is set in the contract.
Need the stickers? See ready-made status stickers or design your own. For wording ideas, see our sticker wording ideas.