News: Vancouver Real Estate Market

On January 1, 2023 the government introduced a cooling off period for buyers, a home buyer protection period, that allows home buyers three business days to back out of an accepted offer.

Key Points about the home buyer rescission period:

  • The period will be effective January 1, 2023.
  • Buyers will have three business days following the accepted offer date to back out of a residential purchase agreement.
  • The period is mandatory and can't be waived by the parties to the contract.
  • Buyers who back...
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