Cooling-Off Period in South Australia (SA)
South Australia's cooling-off period is 2 clear business days with no penalty. Learn your rights under SA law, how to exercise cooling-off, and when it doesn't apply.
Definition
South Australia Cooling-Off Period
South Australia cooling-off is 2 clear business days under the Land and Business (Sale and Conveyancing) Act 1994 (SA).
Quick Facts
| Duration | 2 clear business days |
| Penalty | No penalty — full deposit is refunded |
| Legislation | Land and Business (Sale and Conveyancing) Act 1994 (SA) |
| Starts | When the buyer receives the signed Form 1 (vendor's statement) and the contract |
| How to Exercise | Written notice served before the cooling-off period expires |
| How to Waive | Independent legal advice certificate and signed waiver |
Exceptions
The cooling-off period does not apply in the following situations in South Australia:
- Properties sold at public auction
- Where the buyer has obtained independent legal advice and signed a waiver
Does Cooling-Off Apply at Auction?
No. Properties purchased at public auction in South Australia do not have a cooling-off period. The contract becomes legally binding from the fall of the hammer. This means all due diligence — including building and pest inspections, contract review, and finance approval — must be completed before auction day. If a property is passed in at auction and sold by private treaty shortly afterwards, cooling-off may also be excluded depending on the timeframe and state legislation.
Can the Cooling-Off Period Be Waived?
Yes. In South Australia, the cooling-off period can be waived via: Independent legal advice certificate and signed waiver. This is common in competitive markets where vendors prefer certainty, but it removes your right to withdraw without penalty. Always seek independent legal advice before agreeing to waive cooling-off.
Frequently Asked Questions — SA Cooling-Off
Cooling-Off in Other States
Related Resources
- Exchange of Contracts Explained — Understand what happens when contracts become legally binding.
- Pulling Out After Signing a Contract — Your options and financial consequences if you change your mind.
- How to Read a Property Contract — A buyer's guide to understanding every clause before you sign.
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