Understanding a cooling off period and finance clause
The cooling off period is your last chance to withdraw from buying a property – so it’s important to know how it works.
A cooling off period allows a purchaser to enter a Contract for Sale of Land and secure a property whilst having time to finalise pre-purchase inspections, unconditional finance approval and ensure they are fully satisfied with their decision to purchase the property before being unconditionally bound by the contract.
A finance clause allows a purchaser to enter a Contract for Sale of Land and secure a property whilst they finalise their finance application and obtain unconditional finance approval.
Download the fact sheet
Download the fact sheet to learn which option is better and what to lookout for as a purchaser.
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