Delayed order whish allow user to cancel order?

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Is there way to make order processing delayed?
E.g. 
1. put orders into wait list, put to user (buyer) order id or something like,
2. wait some time (30 min?) process order with some sheduled app
3. if buyer select they order by Id and want to cancel, remove order from wait list.
4. Of courcse, notify buyer by e-mail