p7t-896

Form 1 is called the “vendor’s statement” which must be served on the purchaser by the vendor according to the law. The purpose of Form 1 is to put the purchaser on notice of any particular things that are related to the land to be purchased (e.g. mortgage, easement, rates, building and structural defects, etc)

If Form 1 is served before the contract is signed, the cooling off period expires two clear business days after the contract is signed by both parties.

If Form 1 is served after the contract is signed, the cooling off period expires two clear business days after the Form 1 is served on the purchaser.

Cooling off period does not apply if
(1)        the purchaser is a company;
(2)        you purchase by auction;
(3)        it has been waived by the purchaser after getting independent legal advice

Hope this answers everyone's question raised before.

雷囧 发表于 2013-6-23 01:13
那我们晚两天singed form1  是不是就可以晚两天cooling off啊

You don't sign Form 1 as it will be served on you by the vendor. :-)