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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3671
Experience:  Solicitors 2 years plus PQE
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Do I have the right to a seven day cooling of when signing

Customer Question

Do I have the right to a seven day cooling of period when signing a contract to buy my house. I have tried to cancel a contract under the seven days and received a bill for £1025.00 and aUN1 notice on my property is this l eagle
Submitted: 3 years ago.
Category: Law
Expert:  Alex J. replied 3 years ago.
Hi,

Thank you for your question and welcome.

My name is AJ and I will assist you.

The cooling off period does not apply to contracts for the sale or disposition of land.

If you cancel the contract you are in breach of contract and liable to pay the othersides losses directly occurring from that. At most those losses are likely to be legal fees and search fees. As an estimate of the buyers loss I would say £1025 is a faitly modest sum baring in mind that they would have already paid the solicitor and search fees. The search fees alone are about £500.

Can I be of any further assistance?

Kind regards

AJ