Q I recently sold our family home but had wanted to withdraw from the sale at the last minute. The agent said that wasn't possible and the sale went through.
But I am now told that because it was during the five-day cooling-off period it was possible. Is this true?
Sylvia, GreenwichAdvertisement: Story continues below
A No, the five-day cooling-off period is for buyers, not vendors. The only cooling-off period that applies to vendors is the one-day period granted when you sign an agency agreement.
In that case, the vendor is given 24 hours to opt out of said agreement, leaving them free to renegotiate (or never again negotiate) the terms of the original agency agreement without incurring any fees or costs.
Alas, such an allowance wouldn't have helped you, though.