A purchaser agrees to buy a NSW property. Contracts are exchanged and the cooling off period expires, with the buyer now fully committed. Vendor, however, gets cold feet and decides not to sell! Legally, what happens from here and how is the buyer compensated? Is the vendor able to simply cancel a contract of sale at this point? Having never come across this situation before, I would imagine that the buyer would deserve some type of compensation and the purchaser would still have to fork out agents fees, at the very least?