At a glance
| State | Cooling-off period | Cost to terminate |
|---|---|---|
| Queensland | 5 business days | 0.25% of the purchase price |
| New South Wales | 5 business days (10 for off-the-plan) | 0.25% of the purchase price |
| Victoria | 3 business days | $100 or 0.2% of the price, whichever is greater |
When cooling-off doesn't apply
- Property bought at auction
- Contracts where the buyer has waived cooling-off (e.g. with a lawyer's certificate in NSW)
- Purchases made on the same day as, or shortly after, an auction (rules vary by state)
- Commercial and some non-residential sales
Sellers don't get cooling-off
Cooling-off protects buyers only. Once a seller signs and the contract is exchanged or dated, the seller is bound.
Get advice before the clock runs out
The period is short. Have your contract reviewed as soon as you sign — or ideally before — so you can decide in time.
Useful tools: our fees · instant quote · Section 32 guide
Common questions
Do weekends count in the cooling-off period?
No. Business days exclude weekends and public holidays.
Can I get my deposit back if I cool off?
Yes, less the termination penalty set by state law.
Sources
- Queensland Government — Cooling-off periods when buying property
- NSW Fair Trading — Cooling-off period
- Consumer Affairs Victoria — Cooling-off period
General information only, not legal advice. Checked 13 October 2026.