This 3-Day Period Could Cost You the Sale | BC Cooling-Off Rule

Even with a subject-free offer, your home isn't technically sold in BC until after the Home Buyer Rescission Period (HBRP) expires. This video explains the critical three-business-day "cooling off period" in BC real estate, giving buyers the right to withdraw from a fully executed, unconditional offer.

Understanding this aspect of BC real estate is crucial for both buyers and sellers, as it's a vital consumer protection measure in home buying. I share essential real estate tips on how this period works and when it applies, ensuring you're informed every step of the way whether you are the buyer or seller in a real estate transaction!

0:00 - Subject-Free Offer in B.C. Explained
0:20 - What Is the Home Buyer Rescission Period (HBRP)?
0:56 - When the Cooling-Off Period Started in B.C.
1:25 - Why the HBRP Exists
1:44 - Subject-Free vs Conditional Offers
2:24 - What Properties the HBRP Applies To in B.C.
2:56 - How the 3-Day Rescission Period Works
3:06 - Rescission Fee Explained (0.25%)
4:06 - When the HBRP Does NOT Apply
4:27 - Important Legal Details for Buyers & Sellers
5:05 - When a Home Is Truly Sold in B.C.


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