There is no fixed date advertised for the property to be sold by and you have more time to consider offers made by potential buyers. A strong marketing campaign is put in place to attract the maximum number of interested buyers to your property. Once your property is advertised, potential buyers are invited to inspect and make an offer. This is when the negotiating expertise of your agent and their intimate knowledge of market conditions comes into play as they work with you to get the best possible price. You can accept an offer at any time.
When a sale has been agreed to, a deposit will need to be paid. This can be 10% of the purchase price or less if you agree. The sale can be made subject to conditions such as obtaining finance approval (as opposed to purchasing a property at Auction, where the sale is unconditional). There is also a three day cooling off period on all forms of Private Sales (including Sale by SET DATE®) for purchasers from the date their offer was made.