The Cooling Off Period is not applicable to all properties and relates only to residential property.
The Cooling Off Period is normally 5 days but can be for a different period if both parties agree.
If you rescind the Contract during the Cooling Off Period you will forfeit 0.25% of the purchase price to the seller.
You may be asked to waive the Cooling Off Period in which case you will be bound immediately on exchange of contracts
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