Effective January 2023, the BC Government introduced the “cooling-off period” on real estate sales. This gives buyers three (3) business days to change their mind on a purchase, allowing them to cancel for no reason within those three (3) days. If implemented, the buyer must pay the seller 0.25% of the sale price. Today’s market has already cooled somewhat, with most offers including conditions that go beyond three (3) days. On the occasional, unconditional sale, the period must be considered by the seller. Questions on Real Estate? Contact Tony