NEW! Home Buyer Rescission Period (HBRP)

(January 09, 2023 )

The HBRP provides buyers an opportunity to rescind their contract to purchase certain residential properties up to three business days after an offer is accepted with a financial penalty. The legislation came into effect on January 3, 2023.

If you choose to exercise your rescission right in the period provided, you must pay the seller an amount equivalent to 0.25% of the purchase price. Should your offer contain subject conditions (e.g., financing, home inspection etc.), these will run concurrently with the rescission period. The rescission period DOES NOT begin after subject removal.

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