Refund Policy

Effective Date: 06/09/2025
Last Updated: 06/09/2025

1. Introduction

This Refund Policy sets out the circumstances under which deposits and payments made in relation to land sales at Enterprise Park Benalla (“we”, “us”, “our”) may be refunded. It applies to all purchasers, prospective buyers, and parties engaging with us in relation to Expressions of Interest (EOIs) or Contracts of Sale.

Refund entitlements are determined in accordance with:

The Sale of Land Act 1962 (Vic);
The Australian Consumer Law (ACL) contained in the Competition and Consumer Act 2010 (Cth); and
The terms of the relevant signed Contract of Sale.

2. Deposits and Expressions of Interest (EOIs)

A deposit paid with an Expression of Interest (EOI) is usually fully refundable if a formal Contract of Sale is not entered into.
Once a Contract of Sale has been signed, the treatment of deposits is governed by that contract and relevant legislation.
Deposits may be held in trust by the vendor’s solicitor or agent in accordance with Victorian law.

3. Cooling-Off Period

Purchasers may be entitled to a three (3) business day cooling-off period after signing a Contract of Sale, as provided under the Sale of Land Act 1962 (Vic).
If a purchaser exercises this right, they may be entitled to a refund of the deposit paid, less the statutory forfeiture amount (currently 0.2% of the purchase price).
Cooling-off rights do not apply in all circumstances (e.g., properties purchased at auction, certain company purchases).

4. Cancellations and Terminations

Refund entitlements vary depending on the reason for cancellation or termination:

Vendor breach: If the vendor fails to meet obligations under the Contract of Sale, purchasers may be entitled to terminate and receive a full refund of monies paid.
Finance clause: If a contract is subject to finance approval and the purchaser is unable to secure finance within the agreed timeframe, the purchaser may be entitled to a refund of their deposit.
Special conditions: Refunds may apply if conditions outlined in the contract (e.g., planning approvals, due diligence clauses) are not satisfied.
Purchaser breach: If the purchaser defaults under the contract, the vendor may be entitled to retain all or part of the deposit as damages.

5. Change of Mind

Refunds will not be provided for change of mind once a binding Contract of Sale has been entered into, except where required under statutory cooling-off provisions.
Purchasers are encouraged to obtain independent legal and financial advice prior to signing contracts.

6. Consumer Guarantees

Under the Australian Consumer Law, consumers are entitled to certain guarantees that cannot be excluded.
If any services provided by Enterprise Park Benalla (such as representations about land availability or features) are found to be misleading, false, or otherwise in breach of consumer guarantees, purchasers may be entitled to remedies including refunds or compensation.

7. Refund Process

To request a refund, purchasers must:

Submit a written request via email or post, including details of the payment, the relevant property lot, and the reason for the refund request.
Provide supporting documentation (e.g., signed contract, correspondence regarding finance, or vendor breach).
Once assessed, refunds will be processed via the original payment method where possible.

Timeframe: Approved refunds will be processed within a reasonable timeframe (generally within 14 business days of approval).

8. Dispute Resolution

If a dispute arises regarding entitlement to a refund:

We encourage purchasers to first contact us directly to resolve the matter.
If the issue cannot be resolved internally, parties may seek resolution through Consumer Affairs Victoria, the Victorian Civil and Administrative Tribunal (VCAT), or other appropriate legal channels.

9. Contact Information

For all refund-related enquiries, please contact us at:

Email: anthony.cannizzaro@savills.com.au
Phone: 0431 674 472