Cooling-Off Period in Tasmania (TAS)
Tasmania's cooling-off period under the Property Agents and Land Transactions Act 2016. Learn when it applies, how to exercise your rights, and key exceptions.
Definition
Tasmania Cooling-Off Period
Tasmania cooling-off is Varies — typically available for standard private treaty sales under the Property Agents and Land Transactions Act 2016 (TAS).
Quick Facts
| Duration | Varies — typically available for standard private treaty sales |
| Penalty | Varies — check contract terms |
| Legislation | Property Agents and Land Transactions Act 2016 (TAS) |
| Starts | When the contract is formed |
| How to Exercise | Written notice as specified in the contract |
| How to Waive | Legal practitioner's certificate |
Exceptions
The cooling-off period does not apply in the following situations in Tasmania:
- Properties sold at public auction
- Where the buyer has obtained a legal practitioner's certificate
Does Cooling-Off Apply at Auction?
No. Properties purchased at public auction in Tasmania 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 Tasmania, the cooling-off period can be waived via: Legal practitioner's certificate. 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 — TAS 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.
Get AI Contract Analysis
Realestate Lens flags cooling-off clauses, hidden costs, and red flags in any Australian property contract — powered by AI.
Get Started Free