Podcast 24: Mandatory Three-Day Cooling Period Just Got Introduced In B.C.
Podcast 24: Mandatory Three-Day Cooling Period Just Got Introduced In B.C.
British Columbia is the first Canadian province to require a three-day cooling period for buyers. This means that after a purchaser has signed an agreement buy a home, they can back out of a residential resale deal within 3 business days.
What does this mean for the industry? Do you think this is fair for sellers? Will it make an impact on housing affordability?
Here’s the official FAQ for the new legislation:
https://www.bcfsa.ca/public-resources/real-estate/consumer-resources/home-buyer-rescission-period-consumer-guide
Watch this podcast in video:
https://youtu.be/qcPbIM64Cm4
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