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Not here in Victoria, it's $100 or 0.2% of the purchase price, whichever is greater. Fair enough, otherwise you'd get people making offers all over the place knowing they could pull out with no penalty (except maybe being told to bugger off from a real estate agent you had pulled out on).

Did you read the contract you signed? :confused: It says it on there, according to the one I just signed here in Victoria, it's 0.2%.

I'm confused, has the offer been accepted? If not, then get the letter off ASAP to say you withdraw your offer (I would advise by phone, fax and registered mail), because my understanding is then you don't have to pay that small fee, whatever it is if you pull out during the cooling off period...