What is the cooling-off period, and does it apply to all purchases?

In NSW, a five-business-day period after exchange during which the buyer can withdraw from the contract; withdrawing forfeits 0.25% of the purchase price to the vendor. It does not apply to auction...

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• faqEntry: {"question":"What is the cooling-off period, and does it apply to all purchases?","answer":"In NSW, a five-business-day period after exchange during which the buyer can withdraw from the contract; withdrawing forfeits 0.25% of the purchase price to the vendor. It does not apply to auction purchases or where the cooling-off period is waived (for example by a s 66W certificate).","category":"general-education"}