Cooling-Off Periods for Property in Australia, by State (2026)

The short answer

A cooling-off period lets a buyer cancel a property contract within a short window after signing. It ranges from 2 clear business days in SA to 5 business days in NSW, Queensland and the ACT. Western Australia and Tasmania have no statutory cooling-off, and it never applies at auction. Pulling out usually costs up to 0.25% of the price.

How long is the cooling-off period in each state?

These are the rules for a residential purchase by private sale, as at October 2026. Your contract and your conveyancer have the final word on how they apply to you.

State	Cooling-off	At auction	If you pull out
New South Wales	5 business days	Does not apply at auction, or where contracts are exchanged on the same day after the property is passed in at auction	0.25% of the purchase price ($250 per $100,000)
Victoria	3 clear business days	Does not apply at auction, or to sales within three clear business days before or after a public auction	The greater of $100 or 0.2% of the purchase price
Queensland	5 business days	Does not apply at auction, or within 2 business days after a failed auction if the buyer was a registered bidder	Up to 0.25% of the purchase price ($250 per $100,000)
Western Australia	None	No cooling-off at auction or by private treaty	Not applicable (no statutory cooling-off right to exercise)
South Australia	2 clear business days	Does not apply at auction, or to a contract made on the same day after a passed-in auction	The vendor may keep a deposit of up to $100 (and any option fee); everything else must be refunded
Australian Capital Territory	5 working days	Does not apply at auction or tender, or on the same day after a passed-in auction if the buyer was a recorded bidder	0.25% of the purchase price ($250 per $100,000)
Tasmania	None by law	No statutory cooling-off at auction or by private treaty	None set by law; under the optional contract clause the deposit is refunded with no compensation either way
Northern Territory	4 business days	Does not apply at auction; the auction contract is unconditional	None stated: the NT Government says the buyer can cancel without penalty

Does cooling-off apply at auction?

No. In every state that has a cooling-off period, it does not apply to a property bought at auction. Some states also exclude contracts signed just before or after an auction, so get the contract reviewed before auction day, not after.

When does the cooling-off period start?

It depends on the state. In NSW it starts when contracts are exchanged. In Queensland it starts when the buyer receives a copy of the contract signed by both parties. In Victoria it runs from the day the buyer signs. In the ACT it starts when the contract is made. In SA it runs from when the contract is made or the Form 1 vendor statement is served, whichever is later. In the NT it starts when the contract is last signed and exchanged.

Can you waive the cooling-off period?

In some states you can. In NSW a buyer waives it with a section 66W certificate signed by their solicitor or conveyancer. In Queensland the buyer can waive or shorten it by written notice to the seller. In the ACT and SA a waiver needs advice from the buyer's own lawyer and a certificate they sign. In the NT it can be waived, shortened or extended by agreement. Only waive it after your conveyancer has checked the contract.

What if there is no cooling-off period?

In Western Australia an Offer and Acceptance becomes binding once the seller signs, and Tasmania has no statutory cooling-off either: it only applies if the contract includes the optional clause. In both states the only way out is through conditions written in before you sign, such as finance approval or a building inspection, so speak to a conveyancer before you put an offer in writing.

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Questions people ask

How do I cancel during the cooling-off period?

Give written notice to the seller or the seller's agent before the period ends, following the method set out in the contract and your state's rules. Ask your conveyancer to send it so the timing and wording are right.

Do I lose my deposit if I cool off?

Usually only a small part of it. In NSW and the ACT the seller keeps 0.25% of the price, in Queensland up to 0.25%, in Victoria the greater of $100 or 0.2% of the price, and in SA up to $100. In the NT the government says the buyer can cancel without penalty. The rest is refunded.

Does the seller get a cooling-off period?

No. Cooling-off rights belong to the buyer only. Once the seller has signed and contracts are exchanged, the seller is bound.

Is there cooling-off on off the plan purchases?

In NSW the cooling-off period for an off the plan residential contract is 10 business days instead of 5. Other states apply their normal rules, so check the contract with your conveyancer before signing.

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Sources

General information only, not legal advice. Rules change, so check with your conveyancer before you rely on them.

Cooling-off periods for buying property, by state