You’ve signed the purchase agreement, but now you’re having second thoughts. Can you still pull out of the purchase? That depends on when you want to cancel and what your agreement says.

The statutory cooling-off period

Private buyers purchasing a home in the Netherlands generally have a three-day statutory cooling-off period. During this period, you can withdraw without giving a reason or paying a penalty. The exact deadline is calculated under statutory rules covering weekends and public holidays.

Conditions that allow you to cancel

After the cooling-off period ends, you may still be able to cancel if a condition in your purchase agreement applies. Common examples are a financing contingency or a condition relating to the outcome of a building inspection.

To rely on one of these conditions, follow the deadlines and procedures set out in your agreement.

What if you have no valid grounds to cancel?

If you fail to meet your obligations without valid grounds, the seller may demand that you complete the purchase or claim a contractual penalty.

In many purchase agreements, that penalty is 10% of the purchase price. The exact consequences depend on the terms of your agreement and the circumstances.

How does OZQUR approach this?

Before signing, you should know what you’re committing to and what the financial consequences could be. At OZQUR, we go through the conditions, deadlines and risks with you before you sign the purchase agreement.

Would you like someone to review your purchase agreement, or do you have questions about the conditions that allow you to cancel? Contact OZQUR Makelaardij.

Yücel Samanci
Buying and selling agent at OZQUR Makelaardij, specialising in home-buying strategy, negotiations and guiding Dutch, Turkish and expat clients through the property process.