To protect buyers, there is a 7-day 'cooling-off' period after the property purchase contract is signed. The buyer can opt-out any time during this period.

After this 7-day period, if a buyer decides not to proceed with the purchase, they will lose their deposit. The only exception to this is if there is a legal justification for not proceeding (for example, if one of the 'conditions suspensives' is not met). Consequently, if after you sign the contract you have second thoughts, you must cancel within the 7-day period or you will lose your deposit.

If you decide to cancel during this cooling-off period, it is advisable that you have written proof (e.g. a signature from a registered letter) that your cancellation was done within the 7-days. This will avoid potential disputes as to whether the cancellation was received by the seller or not.