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Wow, niiiice vendor. There you go a lesson to all of us as vendors....be nice to your purchasers. I may actually give it a go myself when acting for a purchaser and I would like to be a fly on the wall when the vendor's representative reads it. Well what harm .... they will either say agree...

To Terry, I don't understand why you would do that to a vendor. If the law allows a vendor to keep the 0.25% if the purchaser exercises their cooling off rights why on earth would you add a clause in the contract otherwise. After all the vendor takes the property off the market while the...

If you have not exchanged you will get it back but if you have exchanged and are cooling off you wont. That is because if you exercise your cooling off rights by rescinding the contract you will forfeit 0.25% of the purchase price....in NSW anyway. Fleur