Home Buyer Rescission Period
Also known as: HBRP · 3-day rescission · Cooling-off period
A statutory 3-business-day cooling-off period during which a buyer of BC residential real property may rescind an accepted offer, subject to a 0.25% rescission fee.
BC's Home Buyer Rescission Period (HBRP), effective January 3, 2023, gives a buyer of residential real property 3 business days after offer acceptance to rescind for any reason. The rescission fee is 0.25% of the purchase price (no statutory cap) — payable to the seller. Business days exclude weekends and statutory holidays.
The HBRP cannot be waived by contract. It applies even when the offer is unconditional (no subjects/conditions). It does NOT extend or replace the subject-removal period — subject conditions, when present, still operate independently after the HBRP elapses. The HBRP exists to protect buyers in heated multi-offer scenarios who feel pressured to write unconditional offers.
Related terms
- Designated Agency — BC's real estate agency model since June 15, 2018: the agency relationship is between the client and the individual licensee, not the brokerage; dual agency is prohibited except in narrow remote-market exceptions.
- BC MLS Rules of Cooperation — The BC framework — Real Estate Services Rules (BC Reg 209/2021) plus BCFSA Standards of Conduct — that governs how listings are shared via member-board MLS systems and requires single-agent designated agency in place of dual agency.
- Subject to Sale of Buyer's Property — A contract subject in a BC offer making the purchase conditional on the buyer's existing home selling within a specified period — typically paired with a "time clause" that lets the seller serve a 48- or 72-hour notice to remove or collapse.
- Closing Day (Completion) — The contractually-stipulated date on which the buyer's lawyer registers the title transfer at the BC Land Title Office and the purchase funds are released to the seller — distinct from the possession date (typically completion + 1 day) and the adjustment date (the date utilities/property tax/strata fees are prorated).
See also
Use any of these formats. Codex content is licensed under CC BY 4.0 — attribution required.
@misc{bronsonjob-bc_hbrp,
author = {Job, Bronson},
title = {{BC Home Buyer Rescission Period}},
howpublished = {BC Real Estate Codex},
year = {2026},
url = {https://www.bronsonjob.com/codex#bc.hbrp},
urldate = {2026-05-08},
note = {Fact ID: bc.hbrp, version 1.}
}Job, B. (2026). BC Home Buyer Rescission Period. *BC Real Estate Codex*. Retrieved 2026-05-08, from https://www.bronsonjob.com/codex#bc.hbrp
BC Home Buyer Rescission Period — Bronson Job PREC, BC Real Estate Codex (2026-05-08). https://www.bronsonjob.com/codex#bc.hbrp
Fact id: bc.hbrp · v1 · machine-readable: /api/v1/facts/by-id/bc.hbrp.json
Verified sources (2)· re-verified 2026-05-08Click to expand
Every claim on this page is sourced to a primary government, regulator, or industry-association URL. We re-verify quarterly; the verification dates below show when each source was last confirmed against the live government page.
- BCFSAretrieved 2026-05-08Home Buyer Rescission Period (HBRP)https://www.bcfsa.ca/industry-resources/real-estate-resources/home-buyer-rescission-period
- BC Governmentretrieved 2026-05-08Property Law Act, RSBC 1996, c. 377 — Section 42https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/96377_01
bc.hbrp · v1View in Codex →License: This definition is licensed under CC BY 4.0. Cite as: "Home Buyer Rescission Period", BC Real Estate Glossary by Bronson Job, https://www.bronsonjob.com/glossary/home-buyer-rescission-period.
