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When does the cooling off period start?

The cooling off period starts when the buyer or the buyer's agent receives a copy of the contract signed by both the seller and the buyer. The buyer's agent will include a solicitor and a real estate agent employed by the buyer and paid by the buyer to find a property for them. It will not include a real estate agent who is involved in a conjunction sale with the listing agent.

A copy of the contract can be given to the buyer or his/her solicitor by facsimile. When a copy of the contract is delivered personally to the buyer, the real estate agent or seller should, as a matter of caution, require the buyer to sign an acknowledgement.

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