Cooling Off Period

• New legislation allows B.C. home buyers to back out of accepted offer — but there’s a cost

  The Home Buyer Rescission Period (HBRP) gives buyers a window to have a change of heart about the purchase of the property.

  Canada

  Jan 4, 2023
  
• B.C. financial regulator advises three day ‘cooling off’ period for homebuyers

  The report says buyers should not be allowed to waive the period in which they would be allowed to back out of a purchase agreement, with exceptions such as court-ordered sales.

  Economy

  May 26, 2022
  
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• B.C. to bring in ‘cooling off periods’ amid soaring real estate sales

  One of the practices under the microscope is looking at alternatives to the blind bidding system, as well as waiving conditions in order to put in a more competitive offer.

  Economy

  Nov 4, 2021