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The coling off period is for the buyer not for the vendor. Once the contracts are exchanged the vendor can't change his mind and sell to someone else

ok so they hadn't accepted you offer because if they did they would have exchanged contracts

There is no issue if you exchange contracts but often buyers expect the vendor to take his property off the market but themselves haven't made a comittment to buy the property by signing the contract and putting the deposit down. And they complain when they miss out.....