Unfortunately, the cooling off period/right to cancel is not an "across the board" right. Indeed, the laws often vary by state.
The 3-day right to cancel law in Texas applies to sales made at facilities other than the seller's place of business. Such locations may be the consumer's residence and places rented on a temporary or short-term basis, such as hotel rooms or convention centers.
A "home solicitation transaction" takes place whenever a consumer purchases goods or services for more than $25 payable in cash or installments at a place other than the seller's place of business. The place other than the seller's place of business may be the consumer's home, but it may also be a place that the merchant has rented on a temporary basis, such as a hotel room or convention center.
Door-to-door sales laws do not apply to certain transactions, such as:
- Sales of insurance and farm equipment;
- Real estate purchases under $100;
- A sale where an attorney or broker assists in the transaction;
- Sales made pursuant to prior negotiations at the merchant's business establishment, where the sale is the result of those negotiations; and
- Sales conducted entirely by mail or telephone, with no other contact between the buyer and seller.
If this does not apply to your specific situation, what I would suggest is that you review the contract to see if there are any cancellation terms built in. If the contract does allow you to cancel within a set period of time, then you may do so --just remember to follow the cancellations terms exactly as provided, or the builder may argue that you did not properly cancel.