We’re all probably had buyer remorse at one time or another and when it comes to buying property cooling off periods are in place to cover you should you change your mind and wish to terminate a contract.

In Victoria, a real estate purchaser is entitled to a cooling off period of three days after signing a contract subject to specific conditions.

It’s important to note that this does not apply for auctions, if the purchaser is a real estate agent of a body corporate and if the parties have entered into a contract for the same property previously in similar circumstances.