The legal reflection period
Do you already know what ''legal reflection period'' means? We would like to explain this to you in this blog.
The phases of (sale) purchase
Are you about to buy a home? Please keep in mind that you will go through a number of steps before you are actually the owner of the home. The statutory cooling-off period is one of these. This means that as a buyer you have time to change your mind after signing the purchase contract. You do not have to give a reason for this.
How long is the statutory cooling-off period?
The name actually says it all: statutory cooling-off period is a legal provision. For everyone, the law states that when purchasing a home you have a three-day reflection period after concluding the purchase agreement. As a seller, the buyer of your home may change his mind within those three days and still terminate the purchase agreement. The cooling-off period starts at the stroke of midnight on the day the buyer receives the agreement. The rule is that at least two working days must fall within those three days. This naturally increases the reflection period if the reflection period falls on a weekend or public holiday. Therefore, always inquire in advance when the legal cooling-off period expires, which is very useful!
The declaration of dissolution
Do you want to get rid of the purchase agreement for the home? Please inform the seller before the cooling-off period expires. How are you doing this? You do this by drawing up a cancellation statement and handing it over to the seller, for example by e-mail. Did you know that the reflection period is one-sided? The agreement can no longer be dissolved by the seller at this time. Business transactions also fall within the legal period. As a buyer, do you want to exercise the right to terminate the purchase agreement? Then there are no costs involved. This means that as a buyer you can get out of the agreement free of charge if you decide within the three-day period. If you cancel after the statutory cooling-off period, a penalty clause applies.
Do you have any questions after reading this blog or do you have purchasing and/or selling plans? Call or email us for a no-obligation sales and/or purchasing conversation. The coffee is always ready! 072-202 131 20 | info@echtmakelaar.nl
