The statutory cooling-off period gives a private buyer of a dwelling three days to dissolve the purchase without giving reasons and without owing anything. It applies only to the buyer, not to the seller, and only where the buyer is a natural person not acting in the course of a profession or business.
Statutory basis
The period is laid down in article 7:2 of the Civil Code. It is three days and must include at least two working days. It starts on the day after a copy of the signed agreement has been handed over to the buyer. The right cannot be excluded to the buyer’s detriment; a clause that shortens or waives it is void.
How it works in practice
Dissolution is informal: a written statement to the seller or the estate agent within the period is enough, and no reason need be given. It is used to arrange a structural survey, to reconsider financing or simply to reflect. Because the clock starts on the handover of the copy, it is essential to record the date and time of that handover; estate agents usually have the buyer sign for receipt.
Where it goes wrong
Most disputes concern the start of the period. If only an unsigned draft was sent, or the copy was sent to an address the buyer does not use, the period does not start and the buyer can still dissolve weeks later. A second issue is scope: the period covers a dwelling, so a purchase of business premises, a plot of land or a mixed property falls outside it. Buyers acting through a company also fall outside, which makes the choice of the contracting party an early decision rather than an afterthought.
Related terms
Purchase agreement for real estate, financing condition and transfer of title.
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