When is A Buyer Entitled to a Cooling Off Period?
A Buyer is only entitled to a Cooling Off Period in instances where the Property Occupations Act 2014 (Qld) applies. There are many instances where the Buyer is not entitled to a Cooling Off Period, for instance, where the property is sold at auction, where the Contract was entered into no later than 5:00pm on the second clear business day after a property was passed in at auction with a registered bidder for the auction or where the Contract was formed through the exercise of an option granted under an earlier agreement.
TIP: This is not a comprehensive list of instances where no cooling off period will apply to a transaction. We are here to help. Please contact our office should you require any assistance.
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To learn more about Cooling Off Period today, contact Ownit Conveyancing on 1300 553 750.