What is cooling off period

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The seller is required by law to inform the buyer at the time of the sale about their right to cancel and to provide the buyer with a copy of the sales contract and two copies of the cancellation form. The right to cancel lasts until the midnight of the third business day after the sale. This rule includes sales made at trade shows, conventions and applies even when a salesperson makes a presentation in your home.

However, it does not apply to sales that are made entirely online, via mail, or telephone. Hamburger Menu Dialog Open. CommBank Search. Dialog start. Search CommBank. Start typing…. Popular searches. Understanding the cooling off period. What is a cooling-off period? How long is a cooling-off period? Why would I withdraw from buying during the cooling-off period? For example, a new development may be approved that, when built, will block the views you expected to have when you signed the contract of sale.