Unconditional offer

Discussion in 'The Buying & Selling Process' started by ATANG, 20th Jul, 2017.

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  1. ATANG

    ATANG Well-Known Member

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    Is there cooling off period if you sign an unconditional offer in Victoria?
     
    ATANG, 20th Jul, 2017
    #1
  2. The Y-man

    The Y-man Moderator Staff Member

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    Yes for private sales (not auction). That's why adverts are "under offer" for 3 days even if there is an unconditional on the table.

    The Y-man
     
    The Y-man, 20th Jul, 2017
    #2
  3. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    The parameters of this are in a box on the front page of every standard REIV contract.

    * You've got a 3 clear business day window to exit for any reason you like.
    * If you purchase 3 business days before, at or after an auction, there is no cooling off period.
    * There is a financial penalty for employing a cooling off period.
     
    Peter_Tersteeg, 20th Jul, 2017
    #3
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