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Buying by state

Buying a home in South Australia

How the cooling-off period, the contract, auctions, the deposit and settlement work in South Australia, with every rule linked to the government source it comes from.

Jurisdiction: South Australia only. Each state sets its own rules for cooling-off, disclosure, auctions and deposits, so these rules do not carry over to a purchase in another state.Sources last verified: 22 Oct 2026By Delora editorial teamChange history

Key points

Cooling-off period

  • SA residential property buyers (in a sale by offer, not at auction) have a 2-clear-business-day cooling-off period, beginning when they receive the vendor's statement (Form 1) or on the date the contract was signed, whichever is later. No reason is needed to withdraw. There is no cooling-off period for a property bought at auction, or in a contract signed the same day as the auction; a pre-auction successful offer does carry a cooling-off right, which can only be waived if an independent legal practitioner signs a prescribed form confirming the buyer was advised of that right. (Attorney-General's Department, South Australia, verified 7 Aug 2026)
  • In South Australia, there is no cooling-off period for a property bought at auction, or bought after the auction on the same day the auction was held. However, if a buyer makes a successful offer before the auction, a cooling-off period does apply unless the buyer waives it -- and an independent legal practitioner must sign a prescribed form confirming the buyer was advised of their cooling-off rights before that waiver is valid. (Government of South Australia (Attorney-General's Department), verified 12 Aug 2026)

The contract and the seller's disclosure

  • South Australia's equivalent to Victoria's Section 32 is the Form 1 disclosure statement, required under the Land and Business (Sale and Conveyancing) Regulations 2025 (SA). Unlike Victoria, where the Section 32 must be given before the buyer signs, SA's Form 1 can be served up to 10 clear days before settlement even after the contract is signed -- but the purchaser's cooling-off period doesn't start until the Form 1 is actually served, and an inaccurate Form 1 doesn't trigger cooling-off at all. Failing to provide an accurate Form 1 at least 10 days before settlement is an offence carrying a fine of up to $10,000, and can entitle the purchaser to rescind the contract or seek damages. (Legal Services Commission of South Australia, verified 13 Aug 2026)
  • South Australia's Form 1 vendor's statement must be served on the purchaser personally, or by registered post, at least 10 clear days before the settlement date where the contract has already been signed. Since 19 March 2021, Form 1 must also disclose whether the vendor has been advised of Aluminium Composite Panel (ACP) cladding on the exterior of the building. (Legal Services Commission of South Australia, verified 7 Aug 2026)

Buying at auction

  • In South Australia, auction sales are unconditional -- a contract to purchase at auction cannot be made subject to finance. Bidders must register with the agent, providing their details and proof of identity, or authorise someone else in writing to bid on their behalf. Generally, auction conditions are a 10% deposit payable immediately and 30-day settlement, though some terms can be negotiated with the agent before the auction. The buyer's information notice (Form R3) must be available at least 3 business days before the auction and present at the auction site at least 30 minutes before it starts. (Government of South Australia (Attorney-General's Department), verified 12 Aug 2026)
  • In South Australia, it is illegal for the vendor, or a person acting on their behalf, to bid at their own auction ('dummy bidding'). The vendor is allowed up to 3 'vendor bids', which must be made by the auctioneer, must be less than the reserve price, and must be clearly announced by the auctioneer as a vendor bid. (Government of South Australia (Attorney-General's Department), verified 12 Aug 2026)
  • In South Australia, a vendor selling by auction sets a minimum reserve price but is not required to disclose it to potential buyers. If bidding doesn't reach the reserve, the vendor may choose not to sell, negotiate with a bidder, or place the property on the open market instead. (Government of South Australia (Attorney-General's Department), verified 12 Aug 2026)

Every auction rule in South Australia, from registering to a passed-in property: buying at auction in South Australia.

The deposit

  • Under section 5 of South Australia's Land and Business (Sale and Conveyancing) Act 1994, a vendor or stakeholder commits an offence by demanding more than a $100 deposit on a sale of land before the cooling-off period ends (or a greater amount if one is fixed by regulation). If the buyer cools off, they get back the money paid, except that the vendor may keep a deposit of up to that amount. (South Australian Government (Parliamentary Counsel), verified 22 Oct 2026)
  • In South Australia, the law allows only a token maximum deposit of $100 to be paid on signing a contract to purchase (in practice this is often not required at all). If the purchaser exercises their cooling-off right, this initial deposit (up to $100), if paid, is forfeited to the vendor, under section 5 of the Land and Business (Sale and Conveyancing) Act 1994 (SA). If the purchaser does not cool off, a further deposit is usually payable once the cooling-off period expires, bringing the total deposit to the commonly cited 10% of the purchase price. The purchase price cannot be paid in more than three instalments, and a deposit can be a non-cash item (e.g. a car or caravan) if the vendor agrees. (Legal Services Commission of South Australia, verified 12 Aug 2026)

Settlement

  • In South Australia settlement is usually performed by a conveyancer or a solicitor. The SA Government says settlement is usually 4 to 12 weeks after contracts are signed, can be negotiated with the vendor, and the date is recorded in the contract. At settlement the balance of the price is paid; registration of the transfer can take up to 2 weeks after. (Government of South Australia, verified 22 Oct 2026)
  • In South Australia, RevenueSA's own guidance describes stamp duty on a land transfer as paid by the purchaser (or their representative) at the time stamping is arranged and the transfer documentation is lodged for registration at the Lands Titles Office -- there is no stated fixed day-count payment deadline independent of this (unlike NSW's 3-month or Queensland's 30-day rule). This ties SA's duty timing conceptually closer to Victoria's own registration-linked approach than to NSW or Queensland's fixed-window models. (Government of South Australia (RevenueSA), verified 12 Aug 2026)

Buying in another state

The same five steps work differently across the border. Compare them on buying a home by state, or go straight to Victoria, New South Wales, Queensland, Western Australia.

Practical checklist

Before you sign in South Australia

  • Read the seller's disclosure documents with your own conveyancer, settlement agent or lawyer
  • Check whether a cooling-off period applies to the way you are buying (private sale or auction)
  • Make sure any condition you rely on, such as finance or an inspection, is written into the contract
  • Confirm the deposit amount, when it is due and who will hold it
  • Put the settlement date, and every deadline before it, in your calendar

Questions for a professional

  • Does a cooling-off period apply to this contract, and when exactly does it end?
  • Which disclosure documents has the seller given me, and is anything missing?
  • What conditions are in this contract, and what happens if one is not met?
  • When is the deposit due, and when can it be released to the seller?

Official resources

Important limitations: This is general information about how buying works in South Australia, not legal advice about any contract. The rules change; the date on each citation is when Delora last checked that source. A conveyancer, settlement agent or lawyer should confirm how they apply to your purchase.

Sources and methodology

Figures on this page are drawn from Delora's local knowledge graph, refreshed from these primary sources and checked for changes on a regular schedule. If a figure here looks out of date, the official source above is always the authority — please let us know.

Evidence record

Written by
Delora editorial team
Jurisdiction
South Australia only. Each state sets its own rules for cooling-off, disclosure, auctions and deposits, so these rules do not carry over to a purchase in another state.
Content type
Guide (general information, not legal advice)
Last reviewed
2026-11-05
Sources
See "Sources and methodology" above for cited sources
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