Buyer cooling off rules still apply during the Australian covid-19 crisis, even if there is a temptation to bend them. Here is a summary of state and territory rules in the Australian Capital Territory (ACT), New South Wales (NSW), Northern Territory (NT), Queensland (Qld), South Australia (SA), Tasmania (TAS), Victoria (Vic) and Western Australia (WA)
The Wakelin Blog
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It remains possible during the covid-19 crisis for buyers to undertake all the usual prudent steps before signing a contract and finally taking possession of a property. A buyer must not let them self be bounced into skipping rungs on the ladder because an agent or counterparty grimaces and says it might be difficult.
Only buy Melbourne property during the coronavirus crisis if you feel secure in your job and/or have a pool of cash or other liquid assets as a safety net and life insurance.
What is an off market sale, you may ask and why are they becoming more common in Melbourne during the coronavirus covid-19 crisis? Plus how to participate safely.
Think carefully before using hard-earned equity from family home to fund a holiday home.