(1)The buyer may, by written notice given to the seller, terminate the contract if there would be a breach of a warranty established under this part were the contract to be completed at the time it is in fact terminated.
(2)A notice under subsection (1) must be given—
(a)if the lot is a proposed lot—not later than 3 days before the buyer is otherwise required to complete the contract; or
(b)if paragraph (a) does not apply—within 14 days after the later of the following happen—
(i)the buyer’s copy of the contract is received by the buyer or a person acting for the buyer;
(ii)another period agreed between the buyer and the seller ends.
(3)If the buyer terminates the contract, the seller must repay to the buyer any amount paid to the seller (including the seller’s agent) towards the purchase of the lot the subject of the contract within 14 days after the termination.