Cooling off period

Kris

Not sure which State you are in but i am sure most would be the same.

If the property is going to auction then most sellers would want the cooling off period to have expired prior to the day of the auction especially if this is a weekend.

Otherwise there is nothing to stop you withdrawing under the cooling off period and they find they had missed the opportunity of selling the property on the day of the auction.

Ben

Unlikely though that any Vendor would sign it if it was less than 5 business days to the Auction and would expect you to waive the Cooling offer period.

I'm with everyone else.  Unless you have actually purchased at auction, it would be a standard contract with the normal cooling off period.  However, I cannot fathom that a vendor would accept an offer with a cooling off period only one day before an auction and risk the contract falling through simply because the purchaser decides not to proceed.  If the vendor did accept an offer the day before auction and wanted the cooling off period waived, that would have to be specifically pointed out the the purchaser and I expect that the purchaser would have to specifically waive his or her rights to the cooling off period. 

The cooling off period pertains only to the purchaser.  It does not pertain to the vendor for him or her to waive.  The period can only be waived at the purchaser's request.  I guess what I am trying to say is that a waiver of the cooling off period couldn't just "slip through the purchaser's net".

Cheers

K