Cooling-Off Notice Updates: What's Changing in NSW Residential Contracts This June
A quick heads-up for property agents
In March 2026, the Law Society of New South Wales released an updated Contract for Sale and Purchase of Land, officially superseding the 2022 edition. The most critical shift for real estate professionals involves the updated mandatory cooling-off period notice. While the cooling-off rules remain unchanged, the statutory wording in the contract is changing.
What is changing in the cooling-off notice for NSW property contracts?
From 1 June 2026, every NSW residential contract must include the updated cooling-off notice wording prescribed under the Conveyancing (Sale of Land) Regulation. Buyer rights remain unchanged, with the 5-business-day cooling-off period and 0.25% penalty still in place. The update affects the statutory wording in the contract itself, and using the 2022 edition after that date won't meet compliance requirements.
How does this affect property agents and owners?
As agents, you distribute contracts daily, making it important to ensure the correct version is always in use. After 1 June 2026, circulating an outdated cooling-off notice can create compliance issues, give buyers grounds to walk away from the contract, and delay exchange. If you own property, these issues increase your risk and can cost you genuinely interested buyers.
What should NSW agents do before June 2026?
Taking a preventative approach to legal changes is the simplest way to safeguard your transactions. Before June 2026, contact the person who prepares your contracts, whether that's your solicitor, conveyancer, or contract preparation service, and ensure they have obtained the updated pages from the Law Society of New South Wales.
NSW Agent Contract Update Checklist
Before June 2026, here's what to stay on top of:
Contract version: Confirm the 2026 Law Society edition is being used for all new listings.
Cooling-off notice: Verify the updated statutory wording is included in every residential contract.
Disclosure documents: Ensure the title search, zoning certificate, and other required attachments are current.
Property-specific documents: Check that strata records, pool compliance certificates, and any relevant approvals are in order.
Auction vs private treaty: Confirm whether special conditions or Section 66W certificates apply.
Pre-exchange review: Before a buyer signs, make sure the contract is the most recent version with all attachments included.
Next Steps
Staying ahead of contract updates is one of the simplest ways to protect your transactions and your clients. If you're unsure whether your contracts are ready for June 2026, we're here to help. Get in touch with Law Team today, and we'll make sure everything is in order before the deadline.
About the Author: Erin Vassallo
Erin Vassallo is the Principal Solicitor and founder of Law Team, a values-led law firm with a strong reputation across New South Wales and Queensland. With over two decades of experience in commercial, construction, and property development law, Erin is a trusted advisor to developers, landowners, and business owners navigating complex projects and legal risk.
Her hands-on experience includes joint ventures, structuring development deals, contract negotiation, risk mitigation, and project governance across residential, commercial, and mixed-use developments. Erin holds qualifications in law, political science, mediation, and disruptive strategy (Harvard Business School) and is the founder of Certified BCorp Law Team, committed to ethical business practices and social impact.