Australian Capital Territory at a glance
- When are you generally bound?
- When signed contracts are formally exchanged between you and the seller.
- Cooling-off period
- Five working days, ending at 5pm on the fifth working day after the contract is made.
- Cost to cool off
- 0.25% of the purchase price.
- When does cooling off not apply?
- It does not apply to properties bought at auction or by tender, certain purchases negotiated on the same day after an unsuccessful auction, or purchases made by a corporation. It may also be waived or shortened after obtaining legal advice and providing the seller with a Section 17 certificate.
- Key documents
- The contract should include the required property documents, which may include the Crown lease, title information, registered interests, building and compliance reports, and pest inspection reports. Have your lawyer review the contract, reports and Crown lease conditions before exchange.
- Can your offer include conditions?
- Yes—but they must be negotiated and clearly written into the contract. Conditions relating to finance, settlement or other requirements are not automatic, so have your lawyer approve the wording before you sign.
- Buying at auction or by tender
- There is no cooling-off period. Review the contract and required reports, complete your due diligence and confirm your finance position before bidding or submitting a tender.
Here is the general playbook for putting in an offer and dealing with agents in the ACT. Have a read, and reach out any time you want to talk through a specific property.
Buying in Canberra has its own rhythm. Many private-treaty purchases have a five-working-day cooling-off period, but it can be shortened or waived using a Section 17 certificate signed by an independent lawyer. ACT residential land is held under a Crown lease rather than freehold, so the contract and lease conditions need careful legal review before you make your move.
Get ready before you offer
The groundwork is the same wherever you buy: know the comparable sales, know your number, and have your pre-approval confirmed before you start making offers seriously. Ask us for a Cotality Property Profile Report and we will send one over so your price sense is based on real data, not the price guide. In the ACT specifically, where properties can sell quickly and sometimes off-market, being finance-ready ahead of time is what lets you move while others are still getting organised. If your pre-approval is sorted already, you are one step ahead.
Because ACT land is leasehold, your solicitor will review the lease conditions as part of the contract review. Crown-lease purpose and conditions can affect use and development, so your lawyer should check them properly rather than assume anything.
ACT law requires a substantial set of documents to be available when offers may be made, including the Crown lease, title/encumbrance documents and, where applicable, recent building/compliance and pest reports. This is one of the ACT’s most useful buyer protections.
How to structure your offer
Offers in the ACT are usually made in writing through the agent. Set out your price, your conditions and your preferred settlement timeframe clearly. Common conditions to include are:
Finance approval
Typically 14 to 21 days.
A satisfactory building and pest inspection
7 to 14 days.
A satisfactory strata report if applicable
Your solicitor’s review of the contract and lease
Settlement in the ACT usually runs 30 to 60 days from exchange, and is agreed as part of your offer.
Cooling off in the ACT: know your worst case
For a transaction to which cooling off applies, the period is five working days and ends at 5pm on the fifth working day after the contract is made. Ask your lawyer to confirm the exact deadline and serve any rescission notice correctly.
If you validly rescind during the cooling-off period, you must generally pay the seller 0.25% of the purchase price. On an $800,000 purchase, that is $2,000; on a $1,000,000 purchase, it is $2,500. Treat cooling off as a limited fallback, not a substitute for contract review, finance preparation or due diligence.
Cooling off may be shortened or waived using a Section 17 certificate signed by an independent lawyer. Agree only after that lawyer has explained the effect, reviewed the contract and confirmed the certificate is appropriate for your circumstances. Confirm your finance position and property checks as far as possible first.
The statutory cooling-off period does not apply to a property bought at auction in the ACT. Complete your contract review, finance preparation and property checks before bidding.
Deposit and leasehold considerations
The deposit amount and timing are set by the contract and may be negotiated. Because ACT land is Crown leasehold, your solicitor should also check the lease terms, any unit-title documents for apartments and outstanding lease obligations.
Dealing with the agent in the ACT
Keep the relationship professional rather than personal. The agent’s job is to get the vendor the best price and the most certainty, and remembering that helps you stay calm rather than take negotiating tactics to heart.
Confirm anything important in writing. If the agent tells you something on the phone about price feedback or vendor expectations, follow up with a short email restating what was said, so there is a clear paper trail if things get disputed later. Asking directly for “price feedback” and “vendor expectations” also makes it harder for the goalposts to shift on you later.
Because the section 17 certificate is often the agent’s preferred outcome, it is fair to ask early: “Is the vendor expecting cooling-off to be waived, or are they open to the standard five days?” Knowing this before you submit means you are not surprised by a waiver request later, and you keep control of whether you agree to it.
For the full playbook on reading the agent, structuring your offer and setting your walk-away price, see How much should I offer for a property? And for exactly what to ask them - and what the answers really tell you - see Questions to ask the selling agent.
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It is a certificate signed by an independent lawyer that allows the statutory cooling-off period to be shortened or waived. The lawyer must explain the effect before signing it. Do not use one until your contract, finance position and due diligence have been properly considered.
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Your lawyer should check the Crown lease purpose and conditions against how you intend to use or alter the property.
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No statutory cooling-off period applies to an auction purchase. Complete your legal, finance and property checks before bidding.
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Thirty to 60 days is typical, though it is negotiated as part of your offer. Your solicitor or conveyancer will manage the process from exchange through to settlement.
Chat with our team and we will get your pre-approval ready so you can move quickly in Canberra’s competitive market.
Ready to make an offer?
Reach out to your Black & White Finance broker or broker support manager for a tailored offer template.
Have your solicitor or conveyancer approve the terms before you sign a contract or transfer a deposit.
This page provides general information only and does not constitute credit, financial, legal or tax advice. Speak with a licensed solicitor or conveyancer for advice specific to your situation. Your full financial situation will need to be reviewed prior to acceptance of any offer or product. Credit Representative Number 494872 is authorised under Australian Credit License Number 389328.