Why are cooling-off and withdrawal periods essential?
These periods play a key role in protecting consumers and buyers. They offer valuable time for reflection before a commitment becomes final.
Whether for a property purchase, a bank loan or an online order, these periods allow you to check the terms of the contract, evaluate its financial impact and ensure that it corresponds to your expectations.
In the event of unforeseen circumstances - job loss, separation, loan refusal - they offer a legal way out without penalty. But beware: to take advantage of them, you need to respect the required deadlines and formalities.
Real estate purchase: 10 days to withdraw
If you sign a promesse de vente or compromis de vente, you have the right to withdraw from the contract within 10 days of receipt (by registered letter with acknowledgement of receipt).
No justification is required! For example, if after signing the contract you realize that the co-ownership charges are too high, you can cancel the purchase free of charge by sending a registered letter to the seller or your notary.
Mortgage loan: a mandatory cooling-off period
When your bank offers you a mortgage, you have a 10-day cooling-off period before you can accept it (article L.312-10 of the French Consumer Code).
During this period, you may not sign. Acceptance is not possible until the 11th day. The offer remains valid for 30 days, giving you time to finalize your project.
Note that if the property purchase does not materialize (withdrawal or loan refusal), the loan offer automatically becomes null and void.
Online purchases: a 14-day right of withdrawal
For purchases made over the Internet or remotely, the law provides for a right of withdrawal of 14 days from receipt of the goods or acceptance of the offer for a service.
This allows you to return an item without justification and receive a full refund, including delivery charges. This does not apply to certain products, such as personalized goods or services already rendered.