When the owner withdraws during cooling-off period

If an owner chooses to withdraw during the cooling-off period (which is five business days), then they must give you, as the contractor, a written withdrawal notice.

You are entitled to receive or retain an amount equal to any out-of-pocket expenses you have reasonably incurred up to the time the owner withdrew, and if you have given the owner the required documentation you are also entitled to an additional $100.

The required documentation is a signed copy of the entire contract and, if the contract is priced at $20,000 or more, a copy of the Consumer Building Guide.

If the owner has already paid more than this amount, you must promptly refund the excess.

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