In New South Wales can the purchaser cool-off in the following circumstances? Justify your answer.

a) Sam signs two contracts for two factory sites next door to each other, the prices being $139,000 and $225,000 respectively.

b) Sam signs a contract of sale to purchase a flat for $169,000.

Sam seeks the advice of his Conveyancer who advises 'sure, go ahead and sign it - you've got three days to cool-off anyway'.