A deadline guide for people buying a home in Australia — a state-by-state comparison of cooling-off periods and withdrawal costs, transfer duty lodging and payment, and how settlement works.
Buying a home in Australia proceeds in the order contract signing (or exchange of contracts) → cooling-off period → settlement, and the deadlines for lodging and paying transfer duty overlap with these steps. The cooling-off period is a statutory window that lets you withdraw if you change your mind after the contract is made, and settlement is the day you pay the balance and ownership passes to you. Depending on the state, transfer duty is also called stamp duty or conveyance duty, and in some states its deadline falls before settlement. If you miss a deadline, your chance to withdraw may end or penalty tax and interest may apply, and the length of each period and the point it starts from differ by state and type of sale. This guide covers the deadlines before and after the contract; for the approval that foreign buyers such as temporary visa holders need, see the 'Buying a home on a temporary visa (FIRB)' guide.
As at November 2026, and subject to change: NSW allows 5 business days after exchange, QLD 5 business days from the day you receive the copy signed by both parties, VIC 3 clear business days from the day the buyer signs in a private sale, SA 2 clear business days for a sale by offer, and ACT 5 working days. WA and TAS have no statutory cooling-off period; for NT, see the FAQ below. There is no statutory cooling-off period for an auction purchase in any state, and contracts made around an auction are also excluded depending on the state.
The cooling-off period is a statutory scheme that lets you withdraw within a set time if you change your mind after entering a contract. It is counted in business days and the starting point differs by state, so even the same 5 business days can end on different dates. NSW and QLD say the period runs until 5 pm on the last day, and QLD explains that the buyer is responsible for making sure the notice arrives in time, so keep a record of how you delivered it.
The NSW Government says that if you withdraw, you must pay the seller 0.25% of the purchase price ($250 per $100,000). In QLD the seller returns the deposit within 14 days and may deduct up to 0.25%. In VIC you get back what you paid minus $100 or 0.2% of the purchase price, whichever is greater, and in the ACT you pay the seller 0.25% and get the remaining deposit back. The SA Government says you have no legal liability if you withdraw under the cooling-off period, but under the legislation a deposit of $100 or less and option money may not be refunded.
Amounts and periods are based on the official guidance checked in November 2026 and may change. Even after the cooling-off period ends, there may be other grounds to end the contract under its terms or the law, but if you pull out without grounds you may lose your deposit or face other consequences, so check with a professional first.
Not every contract has a cooling-off period. Some states, such as WA and TAS, have no statutory cooling-off period, and even within the same state you should check before signing whether any of the three situations below applies, and depending on the state, contracts made by tender or by exercising an option may also be excluded. For other building and site documents to look at before signing, see the 'Strata apartment living', 'Pool fence laws & drowning prevention' and 'How to Check Flood Risk' guides.
This is guidance checked in November 2026 and may change. The NSW Government recommends getting advice before you waive the cooling-off period, and the warning statement in the QLD contract recommends an independent valuation and legal advice before you sign. This guide does not judge whether you should waive.
Four stages around a contract come with dates attached. The figures are from guidance checked in November 2026 and differ by state and type of sale, so start by checking when each stage begins.
NSW and QLD allow 5 business days, VIC 3 clear business days and SA 2 clear business days. Confirm the start date and cut-off time (5 pm in NSW and QLD) from your signed copy and your professional's explanation.
QLD guidance says the seller must give you the seller disclosure statement before you sign, and that conditions such as finance or inspection only take effect if they are written into the contract. The deposit is paid at exchange in NSW and, in QLD, usually within 2 to 3 days after the contract becomes binding.
The day you pay the balance and ownership passes to you. According to official guidance, it is about 6 weeks after exchange in NSW (NSW Government), negotiated in VIC and usually 30 to 90 days, and generally 30 days for SA auctions.
In NSW, duty is paid by the earlier of the settlement date and 3 months after the contract is signed; in QLD, it is lodged within 30 days of the liability date (usually the contract date). For concession and grant eligibility, see the 'First Home Purchase — Government Support' guide.
From before signing until after settlement, put the dates in your calendar and keep what you and your professionals tell each other in writing. For loan calculations, see the 'Mortgage Calculator' guide.
These are typical misunderstandings that make deadlines easy to miss. Check them one by one before you sign.
Official NSW guidance on exchanging contracts, deposits, cooling-off (5 business days, section 66W certificate) and the settlement process (NSW Government)
Official QLD guidance on when the cooling-off period starts, written notice, the penalty, and how to waive or shorten the period (Queensland Government)
VIC cooling-off for private sales (3 clear business days), refund deductions and exclusions (Consumer Affairs Victoria)
SA cooling-off for sales by offer, at auction and off the plan, and Form 1 guidance (South Australian Government)
QLD guidance on how and when to lodge and pay transfer duty, and on using a self assessor (Queensland Revenue Office)
Based on official guidance as at November 2026, the cooling-off period is 5 business days after exchange in NSW (until 5 pm on the 5th business day), 5 business days from the day you receive the contract signed by both parties in QLD, 3 clear business days from the day the buyer signs in VIC, and 2 clear business days in SA, counted from the later of the day you receive the Form 1 and the day you sign. There is no cooling-off period when you buy at auction, and there are other exceptions, so check the start and end dates with a professional straight after you sign.
You may not get all of it back. In NSW you must pay the seller 0.25% of the purchase price ($250 per $100,000), and in QLD the deposit is returned within 14 days but up to 0.25% can be deducted. In VIC you get back what you paid minus $100 or 0.2% of the purchase price, whichever is greater, and in the ACT you pay 0.25% of the purchase price and get the rest of the deposit back. In SA there is no legal liability, but a deposit of $100 or less and option money may not be refunded (checked November 2026).
Official guidance says there is no cooling-off period when you buy at auction in any of NSW, QLD, VIC, SA, ACT, NT or TAS. Contracts made around an auction are also excluded, depending on the state: in NSW, an exchange on the day an auction is passed in; in SA and the ACT, a contract with a bidder on the day of the auction; in QLD, a contract with a registered bidder within 2 business days after the auction is passed in; and in VIC, a purchase within 3 clear business days before or after the auction. To waive the cooling-off period you need a section 66W certificate in NSW, a solicitor's certificate in the ACT and SA, or written notice in QLD, so talk to a professional.
The statutory cooling-off right can no longer be used once the period ends, but there may be other grounds to end the contract. If your contract has finance or inspection conditions, follow those conditions. In QLD, from 1 August 2025, there are cases where you can terminate before settlement if the seller did not give you the disclosure documents before you signed or their contents are inaccurate or incomplete, and separate requirements apply. If you pull out without grounds, as SA Government guidance notes, you may lose your deposit or face a claim for damages, so check with a professional.
It differs by state (checked November 2026). In NSW you must pay by the earlier of the settlement date and 3 months after you sign the contract. In QLD you lodge within 30 days of the liability date (usually the contract date). If you lodge it yourself, you pay by the due date on the assessment notice; a self assessor (such as a solicitor) lodges online within 30 days and then pays within 14 days after that. In VIC you pay before the transfer of ownership is registered, usually at settlement, and penalty tax and interest may apply once more than 30 days have passed after settlement. For SA, check with RevenueSA.
Settlement is the day the buyer pays the balance and ownership passes to them. The NSW Government says it is usually about 6 weeks after exchange, and that a solicitor or licensed conveyancer who is a subscriber to the Electronic Lodgment Network (ELN) handles settlement electronically. In VIC the settlement period is negotiated and is usually 30 to 90 days. As SA Government guidance notes, you can no longer use the cooling-off period once settlement is complete, and NSW advises doing a final inspection of the property on the morning of settlement.
WA and TAS have no statutory cooling-off period (one can be written into the contract). For transfer duty, WA requires lodging within 2 months of the date the liability arises, and TAS within 3 months of the transaction date (usually the settlement date). The ACT's cooling-off period is 5 working days, with the application for registration made within 14 days after settlement and transfer duty paid within 14 days after registration. In NT, sales other than auctions get 4 business days, but under the standard contract this does not apply if the buyer's conveyancer is involved in the exchange, so check your contract. In the NT, stamp duty is generally payable within 60 days of the transaction or at settlement, whichever is earlier.
