A section 66W certificate is a document signed by the buyer's own solicitor or licensed conveyancer that waives the 5 business day cooling off period on a NSW residential contract. Once it is given and contracts are exchanged, the contract is binding straight away, just as if you had bought at auction.
Why buyers waive cooling off
Sellers and agents sometimes ask for a 66W certificate, especially:
- To accept an offer before auction
- When several buyers are competing
- When the seller wants certainty before buying their next home
It can make your offer more attractive. It also means you lose the right to pull out for 0.25%.
Who can sign it?
Only a solicitor or licensed conveyancer acting for you as the buyer, and not acting for the seller. Before signing, they must explain the effect of the certificate and the effect of waiving cooling off. That conversation matters: it is the last point at which you can stop.
Before you sign a 66W certificate, have these done
- The contract and special conditions reviewed
- Finance formally approved, not just pre-approved. See our finance guide
- Building and pest inspection done
- Strata report done, if it is a strata property
- Deposit ready to pay in full at exchange
- Buyer names and ownership confirmed
If any of these is not done, think hard before waiving cooling off.
66W vs cooling off at a glance
| With cooling off | With a 66W certificate | |
|---|---|---|
| Binding from | End of cooling off | Exchange |
| Can you pull out? | Yes, by paying 0.25% | No |
| Deposit at exchange | Often 0.25%, rest later | Usually the full deposit |
| Attractive to sellers? | Less | More |
Common questions
FAQs
Can the seller's conveyancer sign my 66W?
No. It must be your own solicitor or licensed conveyancer.
Can I get a 66W signed the same day?
Often, yes, if the contract can be reviewed quickly. Send it to us as early as possible.
Is a 66W needed at auction?
No. There is no cooling off at auction anyway.
Sources: Conveyancing Act 1919 (NSW) s66W
City Peak Conveyancing acts on NSW property only. This page is general information, not advice about your circumstances.