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Pulling out of selling. In my case, I've made 0.25% deposit on this property, both the vendor and I signed contracts but now the vendor says that the bank denied him loan approval to purchase a property for which he also has made the 0.25% deposit.He wants to pull out of selling his property.I...

Can the seller of the property pull out during the cooling off period after accepting and signing contract for 0.25% deposit?