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Did you know...
A purchaser of residential property may be entitled to bring a contract to an end by written notice, without any specific reason being needed.
This is often called "the cooling-off period". It is available for three clear business days from the date the contract was signed by the purchaser.
There are certain situations where a purchaser cannot cool off. For example, the purchaser cannot bring a contract to an end if the property was purchased at an auction, or within three business days before or after the auction date.The seller of a property does not have a right to cool-off after contracts are signed and exchanged.