Cooling off period - when does it end?? URGENT PLEASE

Hi guys

If I signed the contract on 7 Jan, and the vendor countersigned on 8 Jan, does my cooling off period ends on 12 Jan? (as 9 and 10 Jan were Sat and Sun respectively). Or is it 11 Jan??

The contract is for Victoria.

Thanks in advance.
 
What kind of an answer is that??

Yes it did, but I'm not sure whether the day I signed it (7 Jan) is counted as a day. If it is, then the 3 day cooling off period ends on 11 Jan. But if it is not counted, then the cooling off period ends on 12 Jan.

I think it's a pretty legit question. I'm sorry I'm not as experienced as you are.
 
The contract doesn't come into existence until both parties have signed, so it didn't exist until the 8th. But I don't know whether the days are counted inclusive or exclusive etc.

Sorry: that appears to be duff gen. It appears the 3 days start when the purchaser signs the contract. :eek: Unscrupulous agents can avoid a cooling off at all by not getting the vendor to sign it until the 3rd day, effectively depriving you of cooling off time.

But on your side: it's 3 BUSINESS days, so in any case, you've still got time left to withdraw if you really need to. http://www.lawyersconveyancing.com.au/cooling.asp#4
 
Three clear business days. So, the day of signing does not count and neither does the weekend. See s31 of the Sale of Land Act '62.

This assumes that you meet the other conditions for cooling off (again, see the Act or talk to your solicitor). If you had other conditions on the contract, you might also like to use the next 24 hours exploring your options to escape using those instead as it will save you the cooling-off fee.

Just out of curiousity, is there a particular reason for wanting to get out of this deal...?
 
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