Withdrawal Notice

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A homeowner does not have to give any reason for withdrawing but must notify you by delivering a written notice to you or your address before the cooling-off period expires. The notice must state under which section of the DBCA the homeowner is withdrawing (i.e. Section 72 or Section 74).

Cost to Homeowner of Withdrawing
If a homeowner exercises their right to withdraw under Section 72 during the five business day cooling-off period, you are entitled to $100, plus any out-of-pocket expenses you have reasonably incurred before the homeowner’s withdrawal. You are entitled to retain this money from any deposit paid under the contract, but you must refund any excess. If the deposit is less than your entitlement, the homeowner must pay you the difference.

If the homeowner withdraws under Section 74 because the contract does not contain the required warning, you are only entitled to a reasonable amount for the services you performed in managing or carrying out the work to the time of the withdrawal.

A homeowner may not withdraw during the cooling-off period if:
• You and the homeowner had a previous contract on similar terms for the same site or home; or
• The homeowner received formal legal advice about the contract from a practising lawyer before the contract was made; or
• The homeowner informs you they received formal legal advice about the contract from a practising lawyer before the contract was made.