Cooling off period: return of deposits

[tippergore]

Is there any international law that states there must be a period of cooling off after a deposit is placed on a property transaction to allow for withdrawl from any commitment to purchase?

If so what is the lenght of time of the cooling off?

And are any monies placed as a deposit to be refunded by law?

 

[GDE]

No there isnt, its all about the reservation contract you sign and the terms and conditions. If its states there is no refund then there is no refund