The Curaçao Real Estate Agent Explains: The Cooling-Off Period in a Purchase Contract

Congratulations, you’re buying a house in Curaçao! What a great decision—we completely understand that as real estate agents. Ideally, the agent in Curaçao has drafted a purchase agreement. If you’re working without an agent (not recommended), you could request a purchase agreement from a notary in Curaçao. Keep in mind, however, that the notary does not act as an advisor and will not point out risks or possibilities in the contract. In this blog, we’ll cover an important aspect of the purchase agreement: the cooling-off period.

The Cooling-Off Period

After signing a purchase agreement for a house in Curaçao, buyers have a three-day window during which they can reconsider their decision. According to the law, this statutory cooling-off period begins at midnight on the day after both parties receive the signed contract. The period must include at least two business days (weekends and public holidays are excluded). During this time, buyers can decide whether or not to proceed with their purchase without any obligation.

This cooling-off period was incorporated into law in 2012 as mandatory law. The purchase agreement cannot deviate from this stipulation. If your purchase contract does not include a cooling-off period, your agent or notary has not done their job correctly, and the contract is void and legally invalid.

Why a Cooling-Off Period?

The cooling-off period exists to protect individuals from making impulsive decisions. Buying a home is a rare event in most people’s lives, and it’s important for buyers to have the opportunity to reconsider decisions made in the heat of the moment or under pressure.

Buyers don’t need to provide any justification for withdrawing during this period. In over 16 years of International Fine Living’s practice, no client has ever used the cooling-off period. We’re proud of this—it means our clients make well-informed decisions, have their questions answered, and ultimately find a home they love.

The cooling-off period is not intended—as some agents might believe—for buyers to rush inspections, appraisals, or other evaluations. These are better handled under contingency clauses.

How the Cooling-Off Period Works

Here’s how the cooling-off period is calculated, day by day:

Contract Signed & ReceivedCooling-Off Period Ends at 11:59 PMMondayThursdayTuesdayFridayWednesdayMondayThursdayMondayFridayTuesdaySaturdayTuesdaySundayWednesday

If a buyer wishes to invoke the cooling-off period, they must ensure the cancellation notice reaches the seller and/or their agent before the three-day period ends. This can be done via email, but it’s essential to request a confirmation of receipt. If no confirmation is received, follow up with a WhatsApp message stating that the email was sent.

When the Cooling-Off Period Does Not Apply

The cooling-off period on Curaçao, like in the Netherlands, does not apply to buyers acting in a professional or business capacity. For example, if you establish a BV (private limited company), SPF (private fund), or trust specifically for the purchase, the cooling-off period won’t apply. However, if it’s included in the contract, it does become binding.

Additional clauses can be added to the agreement if both parties agree. Sellers, however, are not entitled to a cooling-off period. Sellers are presumed to have decided to sell their property willingly, having had ample time to reconsider their decision during the preparation process.

This offers buyers reassurance: once the contract is signed, the seller is legally bound to the agreement.

The Seller’s Perspective on the Cooling-Off Period

As a seller, you gain certainty about the buyer’s commitment only after the cooling-off period ends. If no contingency clauses are included in the contract, you might cautiously start celebrating with champagne—but perhaps keep it understated. Selling a lovely home may evoke some tears during the moving process.

But no worries; we’ll help you find another wonderful, larger, or smaller home to match your current lifestyle perfectly.

This article is part of the series: “The Curaçao Real Estate Agent Explains.”

Disclaimer:
International Fine Living aims to provide accurate and helpful information for those buying or selling homes in Curaçao. However, we recommend verifying information with the relevant authorities or professionals. No rights can be derived from this content.

Copyright Notice: The text is protected by copyright. Unauthorized copying or reproduction is prohibited. However, anyone may link to our blog!