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Consideration could be a promise

No it does not mean that. Consideration doesn't have to be money.

Well noted PB. In that case best to put the withdrawal of offer in writing asap.

But an offer has been made and it has been accepted = binding contract. They have the purchaser's signed contract so they could enforce it against the purchaser in NSW in theory. But in QLD i think the contract must be signed by both parties be it is binding. But it will depend on the state...