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MONDAY 17 MAY – 2010 COOLING OFF PERIOD

MONDAY 17 MAY – 2010 COOLING OFF PERIOD

Q.When does the Cooling Off Period technically start and finish?

A. The Cooling Off period begins any time on the day that a signed Contract is received by the Buyer or their Solicitor and ends at 5:00pm on the fifth business day (not including weekends or public holidays).

In practice, this means that if a Contract is received by the Buyer or their Solicitor at 11:59pm on Monday, then the cooling-off period ends at 5:00pm Friday (assuming that no public holidays occur during this time). If the Contract is received by the Buyer at midnight on Monday, then the cooling off period ends at 5:00pm the following Monday (assuming that no public holidays occur during this time.

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