3-day cooling off period

How does the 3-day cooling off period exactly works?

When the purchase agreement has been signed by both the buyer and the seller, the purchase is a fact. Nevertheless, the buyer can still cancel the purchase after signing the contract: thanks to the legal cooling-off period and resolutive conditions. This is for private individuals only, when there’s a business entity involved, different rules apply.

After signing the purchase agreement a buyer has a legal cooling-off period of three days. During these three days, the buyer can cancel the deal without providing a reason and without any costs. Unless agreed in the purchase agreement, there is no cooling off period for the seller.

When you decide to pull out you have to inform the selling party (preferably selling agent and seller). A written confirmation is always best to avoid potential discussions afterwards. The selling party needs to be informed before the colling down period expires.

When does the cooling off period end?

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