Cooling Off Waiver & Form 3 Execution
Independent legal advice for purchasers wishing to waive statutory rights under the Land and Business (Sale and Conveyancing) Act 1994 (SA). Book a time with one of our solicitors, in person or over the phone.
Types of Waivers Available
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Waiver of Cooling Off Rights
A purchaser of residential land has a two clear business day cooling off period after signing a contract. This waiver allows the purchaser to give up that period, making the contract immediately binding.
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Waiver of the Right to Receive a Form 1
A purchaser may waive their right to receive a Form 1 Vendor's Statement, or waive the further two-day cooling off period that follows its receipt.
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Waiver of the Right to Receive a Form 2
For the purchase of a small business (under $300,000 ex GST), a purchaser is entitled to a Form 2 Vendor's Statement. This waiver allows the purchaser to forgo that entitlement and proceed without delay.
How it works
Our Process
Submit Your Booking Request
Use the form below to tell us whether you are the agent or the purchaser. Select the waiver type and choose a time that suits.
Send Us the Contract and Photo ID
Before the appointment, please email a copy of the the completed contract, and purchaser/s photo identification (driver's licence or passport) to admin@battgriffithlegal.com.au so we can confirm their identity.
We Prepare the Form 3
Once we receive your booking, we prepare a Form 3, the statutory certificate confirming that independent legal advice has been provided, based on the contract details you supply.
Independent Legal Advice Is Given
At the appointed time, our solicitor speaks with the purchaser, in person at our Myrtle Bank office or over the phone, and provides the independent legal advice required by the Act.
Payment & Signing of the Form 3
Our fee is $330 (inc. GST), payable prior to the Form 3 being signed. Upon payment, we sign the Form 3 and send it to the purchaser by email for electronic signature via AdobeSign.
Purchaser Forwards the Form 3 to the Agent
Once the purchaser has signed the Form 3, they forward it directly to the agent.
You Have a Binding Contract
Once the Form 1 has been served (or service has been waived), the contract is fully signed by all parties, and the Form 3 is signed and exchanged, a binding contract is in place.
We Can Assist With Your Conveyancing
Now that contracts are exchanged, the purchaser will need a conveyancer to manage the settlement process. We would love to help! Batt Griffith Legal offers conveyancing services and can take care of everything through to settlement. Just let us know and we will get you started.