After this date, you will be given the keys to your new property and you can take possession.
If you want to withdraw from the purchase after the cooling off period has expired there can be legal repercussions - eg you may have to pay compensation to the vendor, the deposit will be forfeited.
Find out how much can you afford in mortgage repayments, as well as other ongoing costs associated with owning a property, and how much is your lending institution willing to lend you.
Determine what kind of house and where you would like to buy.
If you have any questions or concerns about the vendor, their representative or the buying process, Consumer and Business Services can provide information and advice.
You must be given certain information about the property you are interested in buying.
There are no other consequences from withdrawing during the cooling off period.
If you buy a property at auction or on the day of the auction you are not entitled to a cooling off period.
The adjustment of rates and taxes are calculated, and the balance of the price of the property is to be paid to the vendor.
If the property is for sale by private treaty you can make an offer to the vendor or their agent.
This should be in writing and must be signed by you.
Attend open inspections and auctions to get an idea of how much properties are selling for and to get an idea of what the buying process is.
It is recommended that you engage the services of a professional conveyancer or solicitor as early as possible in the house buying process.