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Thank you for all the responses. Good to see we have not technically exchanged yet and as such we can perform our due diligence and if needing to rescind pull out and get our 0.25% back, I assume. I should have consulted a property lawyer. Especially for our first purchase, in what is...

Additionally in the text message that REA sent to me on Friday she stated that a colleague's client offered $430k later that afternoon but as we had made on offer for the property first and put down the 0.25% deposit, that we would proceed and that the colleague's client would be placed on...

Ok. In response to your questions. I only just noticed that there was no date on the contract. This conveyancer comes recommended from a friend who has purchased 8 properties with him/her. I did not know of such a reputation until actually dealing with said conveyancer. An old colleague who...

I'm really confused here. Have we a bad decision? Are we in a cooling off period? I think not but there seems to be some conflicts. Ok so my wife and I like this property and we made an offer by email to the REA. We offered 417k, was told vendor wanted 430k. We counter offered with 420k...