Sayyiduna Hakeem bin Hizam (may Allah be pleased with him) narrates that the Prophet Muhammad (peace and blessings be upon him) said: "Both the buyer and the seller have the option (to cancel the transaction) as long as they do not separate from each other. If both speak the truth and clarify (the details), there is blessing placed in their transaction. But if both lie and conceal (the defect of the goods), the blessing is erased from their transaction."
Hadith Referenceصحیح ابن حبان / كتاب البيوع / 4904
Hadith Gradingفضيلة الشيخ الإمام محمد ناصر الدين الألبانيصحيح - «الإرواء» (1481): ق.فضيلة الشيخ العلّامة شُعيب الأرناؤوطإسناده صحيح على شرط مسلم