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...