The cooling-off period still begins if a representative takes it on the buyer's behalf. If there's a dispute, the seller (or their agent) must prove when they delivered the contract. The cooling-off period ends at 5pm on the final (5th) day of the cooling-off period. After this, the buyer must follow through on the contract and buy the.. New South Wales. In NSW, a buyer is entitled to a cooling-off period of five business days, and will have to forfeit 0.25% of the purchase price to the seller. For properties bought off the plan, there is a cooling-off period of 10 business days. The period can be amended if both parties agree.
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Cooling-off period definition: a period arranged by agreement to allow for negotiation and an abatement of tension between disputing parties. See examples of COOLING-OFF PERIOD used in a sentence.. The meaning of COOLING-OFF PERIOD is a period of time that must pass before someone can do something or before an agreement becomes final. How to use cooling-off period in a sentence.
