Section 66W Certificate

A legal certificate signed by a solicitor or conveyancer that allows a buyer to waive the cooling-off period in NSW.

Once this certificate is signed and attached to the contract, the buyer cannot withdraw during the cooling-off period, making the contract immediately binding after exchange.

The certificate is issued under the Conveyancing Act 1919.

Simple Definition

Section 66W Certificate = A legal document that removes the 5-day cooling-off period in a property purchase.

This means the buyer commits fully to the purchase at the time of contract exchange.

Cooling-Off Period in NSW

In most private treaty property sales, buyers normally receive a 5 business day cooling-off period after exchanging contracts.

During this time the buyer can withdraw, but must pay a small penalty (usually 0.25% of the purchase price).

A Section 66W Certificate removes this right, meaning there is no cooling-off period at all.

Who Issues the Certificate

A Section 66W certificate must be signed by the buyer’s solicitor or conveyancer.

The legal professional must confirm that they have:

• Explained the effect of waiving the cooling-off period
• Advised the buyer about the legal consequences
• Confirmed the buyer understands the risks

The certificate is then provided to the seller’s agent before contracts are exchanged.

When Section 66W Is Used

This certificate is commonly used when:

• Buyers want to make their offer more attractive to the seller
• The buyer has already completed due diligence (finance approval, inspections)
• The property is in high demand or competitive negotiations
• The seller requires an unconditional contract

Example Scenario

Property price: $1,100,000

Buyer wants to secure the property quickly.

The buyer’s solicitor prepares a Section 66W Certificate and attaches it to the contract.

Contracts are exchanged immediately.

Result:

• Cooling-off period is waived
• Contract becomes unconditional upon exchange

Section 66W vs Cooling-Off Period

✅ Quick Summary

A Section 66W Certificate is a legal document that removes the buyer’s cooling-off period, making the property contract immediately binding once exchanged.