Buyer’s guide · South Australia
The Form 1 and cooling-off in South Australia: what every buyer needs to know
In SA, your cooling-off period may not start until you’ve been served with the Form 1. Here’s how the two work together, how to cool off properly and the traps to avoid.
In South Australia, the seller must give you a vendor’s statement, known as the Form 1. It sets out key facts about the property and explains your cooling-off rights.
The two are closely linked. Your cooling-off period runs from the later of signing the contract and being served with the Form 1. In practice, buyers often sign first and get the Form 1 afterwards, usually by email. This guide explains how the timing works, how to cool off properly and what to check in the Form 1.
Key takeaways
- You can cool off until the end of the second clear business day after the later of signing the contract and being served with the Form 1.
- The Form 1 can be served by email. If you’ve signed and haven’t got it yet, watch your inbox closely.
- If you cool off, your money is refunded, but the seller can keep up to $100 of the deposit.
- There’s no cooling-off at auction, or if you’ve waived it with a lawyer’s certificate.
- Your notice must be in writing and given the right way. If it’s disputed, it’s up to you to prove you gave it.
On this page
What the Form 1 is
The Form 1 is the vendor’s statement required by section 7 of the Land and Business (Sale and Conveyancing) Act 1994. The seller must serve it on you at least 10 clear days before settlement. Its form is set by the Land and Business (Sale and Conveyancing) Regulations 2025.
It does two jobs. First, it explains your cooling-off rights and how to use them. Second, it discloses particulars about the property, including mortgages, charges and other encumbrances, and a long list of prescribed matters such as outstanding rates and charges, land tax, and planning, building and heritage notices.
Ask for it before you sign
For a private sale, you can ask the agent for the Form 1 before you sign. If you have it first, you can read it with your lawyer before you commit, and your cooling-off period runs from the day you sign. For an auction, the agent must make the Form 1 available before the auction, so read it before you bid.
How the cooling-off period works
Under section 5 of the Act, you can rescind (cancel) the contract by giving the seller written notice before the cooling-off period ends. You don’t need a reason. When it ends depends on when you got the Form 1:
| When you got the Form 1 | When cooling-off ends |
|---|---|
| Before you signed the contract | End of the second clear business day after the day you signed |
| After you signed the contract | End of the second clear business day after the day the Form 1 was served on you |
| Either way | At settlement, if that happens first |
“Clear business days” don’t include the day you signed or were served, weekends or public holidays. So if you already have the Form 1 and sign on a Monday, cooling-off ends at the end of Wednesday.
Signing first, Form 1 later
This happens a lot. The agent gets your signature on the contract, then sends you the Form 1 afterwards. Your cooling-off period doesn’t start until the Form 1 is served.
The regulations allow the Form 1 to be served by email to an email address you’ve provided for that purpose. It’s treated as served when it’s sent, not when you open it. Agents usually email it straight to you, not to your lawyer or conveyancer.
Watch your email
- Once you’ve signed, check your email every day, including junk and spam, until the Form 1 arrives.
- Remember the clock starts when the agent sends it, not when you read it.
- Forward it to us as soon as it lands, so we can review it within the cooling-off period.
How to cool off properly
Your notice must be in writing and say that you don’t intend to be bound by the contract. Section 5(2) of the Act says it can be:
- given to the seller personally
- sent by registered post to the seller’s last known address
- emailed or faxed to an email address or fax number the seller has given you for that purpose
- left for the seller’s agent with a responsible person at the agent’s address for service, or sent to that address by registered post.
The Form 1 explains the procedure and where to send the notice. Use exactly what it says. If there’s a dispute about whether you gave notice, the burden of proving it is on you, so keep a copy and proof of sending. Don’t rely on a phone call or a text to the agent.
What happens to your deposit
If you cool off, you’re entitled to a refund of the money you’ve paid, but the seller can keep a deposit of up to $100. The Act also stops the seller demanding more than a $100 deposit before cooling-off ends. That’s why the full deposit, typically 5% to 10% of the price, is usually paid once the cooling-off period has passed.
When there’s no cooling-off
Section 5(7) of the Act lists the situations where cooling-off doesn’t apply. The main ones for home buyers are:
- buying at auction
- signing a contract on auction day, after the property is passed in, if you or someone bidding for you bid at the auction
- waiving cooling-off after getting independent advice from a lawyer, who signs a certificate in the approved form
- some sales by tender, and some purchases under an option, where the contract is signed well after the Form 1 is served.
Waiving cooling-off
Some sellers ask buyers to waive cooling-off, particularly for offers made before an auction. To do it, you need independent advice from a lawyer, who then signs the certificate. In our experience, it’s rare for a seller to insist on a waiver. If you’re asked, talk to us first, because once you’ve waived it you can’t change your mind.
What to check in your Form 1
Two clear business days isn’t long. Use the time to go through the Form 1 and the contract with your lawyer or conveyancer, and check:
- that the seller named matches the certificate of title
- any mortgages, easements, encumbrances and land management agreements
- outstanding council rates, emergency services levy, water and sewer charges and land tax
- any planning, building or heritage notices affecting the property
- for a strata or community title property, the strata or community corporation details.
Cooling-off usually isn’t long enough to get finance approved or arrange inspections. If you need those protections, ask for finance and building inspection conditions in the contract before you sign.
If the Form 1 is wrong or missing
If the seller doesn’t serve the Form 1, or it’s defective, and you’re prejudiced as a result, section 15 of the Act lets you apply to court. The court can set aside the contract, award damages or make other orders. Talk to us straight away if something in the Form 1 doesn’t look right. The Law Handbook also has a useful overview.
Our step-by-step guide to buying in South Australia explains where the Form 1 fits in the whole process. If you’re also buying interstate, see our guides to cooling-off in Victoria and cooling-off in NSW.
Frequently asked questions
When does cooling-off start if I get the Form 1 after I sign?
From the day the Form 1 is served on you. Cooling-off ends at the end of the second clear business day after that day.
Can the agent email me the Form 1?
Yes, if it’s sent to an email address you’ve provided for that purpose. It’s treated as served when it’s sent, so check your inbox closely after you sign.
How much do I lose if I cool off?
Very little. You’re entitled to a refund of the money you’ve paid, but the seller can keep a deposit of up to $100.
Is there cooling-off at an auction in SA?
No. There’s also no cooling-off if you sign on auction day after the property is passed in and you, or someone for you, bid at the auction.
Can I cool off by phone or text?
No. Notice must be in writing and given in one of the ways the Act allows. Follow the instructions in your Form 1 and keep proof that you sent it.
Buying in South Australia?
Talk to our property team
Property & Conveyancing
Our team can review your contract and Form 1 within the cooling-off period, give your cooling-off notice the right way if you need to, and handle your purchase through to settlement.
This article is general information only and is not legal advice. It reflects South Australian law at the date of publication. Please contact us for advice about your circumstances.
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