Cooling-Off Period in South Australia (SA)
South Australia's cooling-off period is 2 clear business days. The vendor may retain a deposit of up to $100. Learn your rights under SA law and when cooling-off doesn't apply.
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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 | The vendor may retain a deposit only up to $100 (plus any option consideration); the balance is refunded |
| Legislation | Land and Business (Sale and Conveyancing) Act 1994 (SA) |
| Starts | Ends at the end of the second clear business day after the contract is made (if the Form 1 was served beforehand) or after the Form 1 is served (if later); settlement ends the right early |
| How to Exercise | Written notice served before the cooling-off period expires |
| How to Waive | Independent legal advice before signing, with the legal practitioner signing Form 3 Part A; no separate buyer-signed waiver is prescribed |
Exceptions
The cooling-off period does not apply in the following situations in South Australia:
- Properties sold at public auction
- Same-day contracts by a bidder at the auction
- Sales by tender and contracts formed by exercising an option
- Where the pre-contract independent legal advice certificate (Form 3) was given
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 before signing, with the legal practitioner signing Form 3 Part A; no separate buyer-signed waiver is prescribed. 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
South Australia's cooling-off period is 2 clear business days under the Land and Business (Sale and Conveyancing) Act 1994. If the Form 1 was served before the contract, it ends two clear business days after the contract is made; if the Form 1 comes later, two clear business days after service. The vendor may retain a deposit of up to $100; the rest is refunded.
Yes, if you obtain independent legal advice and sign a waiver, the cooling-off period can be waived in South Australia.
No. Properties purchased at auction in South Australia have no cooling-off period. All due diligence must be completed before auction day.
Cooling-Off in Other States
Related Resources
- SA Contract Review Guide, Cooling-off only matters after you sign. Check what's in the SA contract first.
- 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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