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...