Episode 22: Cooling Off Periods for Victorian Building Contracts
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Episode 22: Cooling Off Periods for Victorian Building Contracts
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Cooling off periods give Victorian homeowners a short window to withdraw from a major domestic building contract after signing. This episode explains when the cooling off period starts, how the five clear business days are calculated, and why the exact time you receive a signed contract can affect your rights. It also covers what happens to any money paid if you withdraw, including the limited amount a builder is entitled to keep.
The episode also explains the key exceptions where cooling off rights do not apply, including situations where legal advice has been obtained or where there has already been a prior contract for substantially the same work on the same land. This is practical, general information to help homeowners understand how cooling off periods work in real building projects in Victoria.
