Cooling-off period
nouncool·ing-off pe·ri·odpronounced KOOL-ing-off PEER-ee-əd
Last reviewed 16 April 2026
What does the noun Cooling-off period mean?
A short window (typically 2-5 business days, varying by state) after signing a contract during which a buyer can withdraw from the purchase, usually with a small penalty. There is no cooling-off period for properties bought at auction.
How the noun Cooling-off period is used
After signing the contract, you have a cooling-off period to change your mind, but remember there is no cooling-off if you buy at auction.
Related words
Cite this entry
MLA citation: "Cooling-off period." How to Property, 16 Apr. 2026, https://howtoproperty.com.au/definitions/cooling-off-period. Accessed 30 May 2026.
Chicago citation: How to Property. "Cooling-off period." Last modified April 16, 2026. https://howtoproperty.com.au/definitions/cooling-off-period.
APA citation: How to Property. (2026, April 16). Cooling-off period. https://howtoproperty.com.au/definitions/cooling-off-period