Once an offer has been accepted, contracts are signed and exchanged, the purchaser has a 5 day cooling off period to withdraw from the sale.
This period commences on the day of exchange and
expires at 5:00pm on the fifth working day following. If the purchaser
withdraws from the sale during the 5 day cooling off period they still need to
pay 0.25% of the purchase price to the vendor.
There is no cooling off period if:
- You purchase at auction or sign contracts on auction day
- The sale contract has a 66w certificate