Cooling-off period

A 5-business-day period after exchange of contracts on a residential property purchased by private treaty in NSW, during which the buyer may withdraw from the contract. Withdrawing costs the buyer ...

The FAQ and process content on this page is general information about conveyancing in Australia, not legal advice. Obtain advice specific to your circumstances before acting on it.

Verified facts

• referenceDefinition: {"term":"Cooling-off period","definition":"A 5-business-day period after exchange of contracts on a residential property purchased by private treaty in NSW, during which the buyer may withdraw from the contract. Withdrawing costs the buyer 0.25% of the purchase price. The period can be waived (see s 66W certificate), shortened, or extended by agreement. There is no cooling-off period when buying at auction. (Conveyancing Act 1919 (NSW) s 66S.)","primarySource":"https://www.nsw.gov.au/housing-and-construction/buying-and-selling-property/buying-property-nsw/contracts-and-deposits"}