Cooling-off periods in Australia: a state-by-state guide (2026)

You’ve accepted an offer and the contracts are signed. Done deal? Not quite. In most of Australia, the buyer still has a short window — the cooling-off period — in which they can change their mind and walk away, usually for a small penalty. It’s a protection built for buyers, but if you’re the one selling, it’s the last bit of uncertainty standing between an accepted offer and a sale that’s truly locked in.

So it pays to know exactly how it works where your property is. The rules vary a lot from state to state — how many days, what it costs the buyer to pull out, when the clock even starts, and whether it applies at all. Here’s the plain-English version, state by state, and what it means for you as a seller.

Before we start: this is general information, not legal advice, and cooling-off rules change. When you’re actually at this stage of a sale, talk to your conveyancer or solicitor about your specific contract — that’s exactly the kind of thing they’re there for. We’ve linked each state’s consumer affairs authority below so you can check the current detail.

What is a cooling-off period?

A cooling-off period is a set number of days, right after the contract of sale is signed, during which the buyer can cancel the purchase — often without giving a reason. In most states the buyer forfeits a small penalty (a fraction of a percent of the price) for the privilege; in a couple they get out cleanly.

It exists to give buyers a brief safety net against the pressure of a big, fast decision. For you as the seller, it simply means the sale isn’t fully binding the moment contracts are signed — there’s a short stretch where the buyer can still step back, and only once it passes (and any conditions are met) is the deal genuinely yours.

One thing that’s the same everywhere: there is no cooling-off period when a property sells at auction — and in most states, that exclusion also covers a sale made immediately before or after the auction. We’ll come back to that.

Cooling-off periods by state and territory

Here’s how it stacks up around the country. (Business days mean weekdays — weekends and public holidays don’t count.)

State / Territory	Cooling-off period	What it costs the buyer to pull out	When the clock starts
NSW	5 business days	0.25% of the purchase price	On exchange of contracts
VIC	3 clear business days	$100, or 0.2% of the price — whichever is greater	When the buyer signs the contract
QLD	5 business days	0.25% of the purchase price	When the buyer receives the signed contract
SA	2 clear business days	A small prescribed amount	After the buyer receives the contract and the Form 1
WA	None (unless written into the contract)	—	—
TAS	None (unless written into the contract)	—	—
NT	4 business days	Nothing — the full deposit is refunded	On exchange / last signing
ACT	5 business days	0.25% of the purchase price	On exchange of contracts

Sources: each state and territory’s fair trading / consumer affairs authority (linked below). Figures are current at the time of writing (2026) — confirm yours with your conveyancer or solicitor.

A few of the nuances behind the table:

NSW has a five-day window from exchange, and the 0.25% penalty is the standard. A buyer can waive or shorten it, but only by giving you a formal certificate (often called a “66W certificate”) signed off by their solicitor or conveyancer — which is common in competitive sales.
Victoria’s three days are short, and the penalty is the greater of $100 or 0.2%. It doesn’t apply in certain cases (for example, where the buyer received the section 32 statement and got independent advice, or for sales at or within a few days of auction).
Queensland’s clock starts when the buyer receives the signed contract, so make sure that hand-over is clean and dated — it determines when the window closes.
South Australia ties the start of its short two-day window to the buyer receiving both the contract and the Form 1 vendor’s statement, which is another reason to have your disclosure documents ready early.
WA and Tasmania have no automatic cooling-off period at all — once the offer and acceptance (WA) or the contract (Tas) is signed, the buyer is bound, unless a cooling-off clause was specifically negotiated into the contract.
The NT gives buyers four business days and, unusually, no penalty to withdraw — they get their full deposit back. It can be waived, shortened or extended by agreement.

The big exception: auctions

Wherever you are in Australia, a property sold under the hammer comes with no cooling-off period. The buyer is bound the moment the auctioneer accepts the winning bid. In most states that also rules out cooling-off for a contract signed in the days immediately before or after the auction. If you’re selling by auction (or negotiating around one), the upside for you is certainty — the buyer can’t change their mind the next morning — but it makes pre-auction preparation and a buyer’s due diligence all the more important.

What cooling-off means for you as the seller

Here’s the practical takeaway: an accepted offer with contracts signed is not the finish line in most states — the cooling-off window is. Until it closes (and any conditions like finance are satisfied), your buyer can still walk, so it’s worth handling that stretch with care:

Don’t switch off the moment contracts are signed. Keep the sale warm and the lines of communication open through the cooling-off window. A buyer who feels looked after is far less likely to get cold feet.
Understand the penalty is the buyer’s, not a windfall for you. The small forfeiture (0.25% in NSW/QLD/ACT, 0.2%-or-$100 in VIC, a prescribed amount in SA, nothing in the NT) is set by law — it’s not a negotiation, and it’s modest next to a full sale.
Get your disclosure documents ready early. In states like SA, the cooling-off clock doesn’t even start until the buyer has the full paperwork — so being organised actually shortens the period of uncertainty for you.
Lean on your solicitor or conveyancer. This is precisely the stage to have professional representation. They’ll confirm your state’s rules, make sure the contract and any waiver certificate are handled correctly, and tell you exactly when the sale becomes unconditional. You shouldn’t be working out the fine print of cooling-off on your own — that’s their job, and it’s why every seller should have one in their corner before contracts are signed.

For the bigger picture of where this sits in a private sale, see our guide to evaluating and accepting an offer and why private sellers still need a conveyancer.

The bottom line

Cooling-off periods are short — three to five business days in the states that have them, none in WA, Tasmania or at any auction — and the penalty for a buyer to walk is small. But for a seller, that window is the last patch of uncertainty before the sale is truly yours, so it’s worth knowing your state’s rules, keeping the deal warm until the period closes, and having a conveyancer or solicitor guiding you through it. Get organised early, stay close to your buyer, and the cooling-off period passes as a formality rather than a fright.

Frequently asked questions

Is there a cooling-off period when buying a house in Australia? In most states, yes — but it varies. NSW, QLD and the ACT give 5 business days, Victoria 3, South Australia 2 and the Northern Territory 4. Western Australia and Tasmania have no automatic cooling-off period, and there’s never one when a property sells at auction.

How long is the cooling-off period? It depends on the state: 5 business days in NSW, QLD and the ACT; 3 in VIC; 2 in SA; 4 in the NT; and none in WA or TAS (unless negotiated into the contract). Business days exclude weekends and public holidays.

What does it cost a buyer to pull out during cooling-off? A small penalty set by each state: 0.25% of the price in NSW, QLD and the ACT; the greater of $100 or 0.2% in Victoria; a small prescribed amount in SA; and nothing at all in the NT, where the deposit is refunded in full.

Can a seller cancel during the cooling-off period? No — the cooling-off right belongs to the buyer, not the seller. Once you’ve signed, you’re committed; it’s the buyer who has the short window to withdraw. That’s exactly why choosing the right offer and keeping the buyer engaged matters.

Is there a cooling-off period at auction? No. A property sold at auction has no cooling-off period anywhere in Australia, and in most states that also applies to a sale made immediately before or after the auction. The winning bidder is bound straight away.

Can the cooling-off period be waived or shortened? In some states, yes. In NSW, for example, a buyer can waive or shorten it by giving the seller a formal certificate (a “66W certificate”) signed by their lawyer or conveyancer; in the NT it can be varied by agreement. Your conveyancer or solicitor will handle this correctly — don’t attempt it informally.

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