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Posted on Feb 11, 2012 | Tags: conveyancing, residential purchase | Comments (0)
The cooling off period is the purchaser’s time period of 5 working days to rescind the contract if they do not wish to proceed. The cost of rescinding the contract is 0.25% of the total purchase price, unless otherwise stated. Properties sold at auction do not have a cooling off period and a document called a Section 66W Certificate may also be signed in order to waive the cooling off period.
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