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Market Update • Market Update • 11 January 2023

Home Buyer Rescission / Cooling off Period

by Julia Thompson

The BC Government has implemented a 3 day Home Buyer Rescission Period. Home buyers will now have 3 days after offer acceptance to change their mind – If the Buyer rescinds their contract during the 3 days they will have to pay a penalty to the Seller of .25% of the agreed upon purchase price. For full details call Ann & Julia Thompson Century 21 Coastal Realty Ltd. 604-618-7142 or email: julia.thompson@century21.ca

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New Cooling off Period for Buyers Jan 1, 2023 the BC Provincial Government enacted legislation giving Home Buyers a 3 day Rescission Period – This involves residential real estate, it cannot be waived and should the Buyer exercise their right to rescind the contract they will pay a penalty to the Seller of .25%  of the purchase price. Check out this […]
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