Cooling-off periods for buying property, state by state
General information, not legal advice. Checked 18 Oct 2026.
A cooling-off period lets a residential buyer withdraw from a signed contract within a short window, usually for a small cost. It is a safety valve, not a plan. The periods are short, they do not apply at auction, and in two jurisdictions there is no general statutory cooling-off period at all.
This page summarises the rules in each state and territory, with links to official sources. It is general information, not legal advice. The rules have exceptions and conditions; check your contract and talk to your conveyancer before relying on cooling off.
Summary table
| State or territory | Length | When it starts | Cost to withdraw | No cooling off at auction? |
|---|---|---|---|---|
| Victoria | 3 clear business days | When you sign | Greater of $100 or 0.2% of price | Yes, and within 3 clear business days before or after an auction |
| New South Wales | 5 business days (10 off the plan) | On exchange | 0.25% of price | Yes, including same-day after pass-in |
| Queensland | 5 business days | When you receive the contract signed by both parties | Seller may deduct up to 0.25% of price | Yes, plus some follow-up sales |
| South Australia | 2 clear business days | Later of Form 1 service or contract signing | See your Form 1 | Yes |
| Western Australia | None unless agreed in the contract | Not applicable | Not applicable | Not applicable |
| Tasmania | Depends on the contract; the Law Society standard contract offers 3 business days if selected | When the contract is made | Deposit returned under the standard contract | Check contract |
| ACT | 5 clear working days | First valid weekday after exchange | 0.25% of price | Yes, plus tender and some post-auction sales |
| Northern Territory | 4 business days | When the contract is last signed and exchanged | Without penalty, per NT Government | Yes |
Victoria
Consumer Affairs Victoria (CAV) states that a cooling-off period of three business days applies to private sales of residential and small rural properties. It begins from the date you sign the contract, not when the seller signs. To cool off, give written notice to the seller or the seller's agent. You are entitled to a refund of money paid, less $100 or 0.2% of the purchase price, whichever is greater.
CAV lists situations where cooling off does not apply, including buying at auction or within three clear business days before or after an auction, property mainly used for industrial or commercial purposes, farming land over 20 hectares, a previous contract on the same terms, and buyers who are estate agents or corporate bodies.
New South Wales
The NSW Government states that residential buyers have a 5 business day cooling-off period after exchange, ending at 5pm on the fifth business day. Off-the-plan contracts have 10 business days. If you withdraw, you pay the vendor 0.25% of the purchase price, which is $250 per $100,000.
There is no cooling off at auction, or if contracts are exchanged on the same day as an auction after the property is passed in. The period can be waived with a section 66W certificate, or shortened or extended by agreement. The Conveyancing Act 1919 requires the notice of rescission to be in writing and signed by the purchaser or their solicitor.
Queensland
The Queensland Government states that a 5 business day cooling-off period applies to contracts for the sale of residential property, starting on the day the buyer receives a copy of the contract signed by both parties, and ending at 5pm on the fifth day. If the contract arrives on a weekend or public holiday, the period starts on the next business day.
To cancel, the buyer gives written notice by 5pm on the fifth day. The seller may deduct up to 0.25% of the purchase price from the deposit and must refund the rest within 14 days. Exemptions include auctions, some follow-up sales after an unsuccessful auction to a registered bidder, and option contracts. The buyer can waive or shorten the period in writing.
Queensland's cooling-off rules are separate from the seller disclosure scheme. See Form 2 seller disclosure statement.
South Australia
SA Government guidance states that in a sale by offer, the cooling-off period is 2 clear business days and begins when you receive the vendor's statement (Form 1) or the date the contract was signed, whichever is later. The Law Handbook notes weekends, public holidays and the day of service are excluded, and that an inaccurate Form 1 does not start the period. Auction sales are unconditional.
The deposit must be paid once the cooling-off period has expired, according to SA Government guidance. See SA Form 1 vendor's statement.
Western Australia
Consumer Protection WA states there is no mandatory cooling-off period for real estate contracts made in Western Australia. If the contract is to include one, the parties need to agree to insert it. Consumer Protection also notes that there is no mandatory seller disclosure statement for property sales in WA, though agents must find out or verify pertinent facts and communicate them, and buyers are encouraged to obtain a Property Interest Report from Landgate.
Tasmania
Whether you have a cooling-off period in Tasmania depends on your contract. The Law Society of Tasmania's standard contract (2025 edition) includes a cooling-off provision of three business days that applies only if selected in the Particulars of Sale; if no selection is made, it does not apply. Where it applies, the purchaser may terminate by notice within three business days of when the contract is made and is entitled to the return of any deposit paid.
Check the cooling-off box before you sign.
Australian Capital Territory
Access Canberra's buyer guide states that a cooling-off period of five clear working days applies to residential sales, beginning from the first valid weekday after exchange, excluding weekends and public holidays. A buyer who withdraws pays 0.25% of the purchase price, which can be deducted from the deposit. It does not apply to auction or tender sales, same-day purchases after a passed-in auction by a registered bidder, corporate buyers, or where the buyer has waived after independent legal advice.
Northern Territory
The NT Government states that contracts for property not sold by auction must give the buyer a cooling-off period of four business days, starting on the day the contract is last signed and exchanged. The buyer can cancel without penalty or explanation. The period may be waived, reduced or extended by agreement.
Practical points for every state
- Read the papers before you sign, not during cooling off. Two to five business days is not long to get a building inspection, strata report and legal review.
- Put notice in writing and keep proof. Use the method your contract or the legislation allows.
- Check the deadline time. Several states end the period at 5pm.
- Waivers and shortened periods need care. NSW and ACT require a certificate from your lawyer.
- Auctions have no cooling off. Do your checks before auction day.
How ReadyToSign helps
ReadyToSign reads the contract and disclosure papers you upload, identifies which state's rules apply, and reports what your contract says about cooling off, including any waiver, shortening or extension. Reading the papers before you sign is the point. It is not legal advice.
Frequently asked questions
Is there a cooling-off period at auction?
No. In every state and territory that has a statutory cooling-off period, it does not apply to auction sales. Some also exclude sales shortly before or after an auction.
Which state has the longest cooling-off period?
For standard residential sales, NSW, Queensland and the ACT have 5 business or working days. NSW off-the-plan contracts have 10 business days.
Does Western Australia have a cooling-off period?
Not by default. Consumer Protection WA states there is no mandatory cooling-off period; the parties must agree to include one in the contract.
How much does it cost to cool off in NSW?
0.25% of the purchase price, which is $250 for every $100,000.
Can I waive the cooling-off period?
In several states, yes. In NSW you give a section 66W certificate; in the ACT you need a certificate from your own solicitor. Get advice before waiving.
Sources
- Consumer Affairs Victoria, Planning to buy property (cooling-off rights): https://www.consumer.vic.gov.au/housing/buying-and-selling-property/buying-property/planning-to-buy-property
- NSW Government, Contracts and deposits when buying property in NSW: https://www.nsw.gov.au/housing-and-construction/buying-and-selling-property/buying-property-nsw/contracts-and-deposits
- Conveyancing Act 1919 (NSW), s 66U (AustLII): https://classic.austlii.edu.au/au/legis/nsw/consol_act/ca1919141/s66u.html
- Queensland Government, Cooling-off period for residential property contracts: https://www.qld.gov.au/law/laws-regulated-industries-and-accountability/queensland-laws-and-regulations/regulated-industries-and-licensing/regulated-industries-licensing-and-legislation/property-industry-regulation/legal-requirements-for-the-property-industry/cooling-off-period-for-residential-property-contracts
- SA Government, Offers, auctions and buying off the plan: https://www.sa.gov.au/topics/housing/buying-building-selling/building-or-buying-home/home-sales
- Legal Services Commission SA, Law Handbook, Cooling-off period: https://www.lawhandbook.sa.gov.au/ch23s08s08s01.php
- Consumer Protection WA, Sale by offer and acceptance: https://www.consumerprotection.wa.gov.au/publications/sale-offer-and-acceptance-publication
- Law Society of Tasmania, Particulars of Sale (2025): https://www.lst.org.au/wp-content/uploads/2024/12/Particulars-of-Sale-2025-Writable-PDF.pdf
- Access Canberra, Reality Check: a real estate guide for buyers and sellers in the ACT: https://www.accesscanberra.act.gov.au/__data/assets/pdf_file/0017/2312144/Reality-Check-A-real-estate-guide-for-buyers-and-sellers-in-the-ACT.pdf
- Civil Law (Sale of Residential Property) Act 2003 (ACT): https://www.legislation.act.gov.au/a/2003-40/
- NT Government, Contract of sale: https://nt.gov.au/property/buying-and-selling-a-home/get-help-with-the-contract/contract-of-sale
General information only, not legal advice. Last reviewed 18 October 2026.
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