According to Article 94 of the Contract Law, if the seller delays the delivery of the house or the buyer delays the payment of the house price and fails to perform it within a reasonable period of three months after being urged, if one party requests to terminate the contract, it shall be supported, unless otherwise agreed by the parties.

If there is no law or agreement between the parties, the reasonable time limit for exercising the right of cancellation is three months after the other party's demand. If the other party fails to ask for a notice, the cancellation right shall be exercised within one year from the date of the cancellation right. If it is not exercised within the time limit, the right of revocation shall be extinguished.