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BC Real Estate Glossary

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.

See also

Cite this fact

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BibTeX — LaTeX, academic
@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.}
}
APA — Press, journalism
Job, B. (2026). BC Home Buyer Rescission Period. *BC Real Estate Codex*. Retrieved 2026-05-08, from https://www.bronsonjob.com/codex#bc.hbrp
Plain link — Slack, email, Twitter
BC Home Buyer Rescission Period — Bronson Job, 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

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Bronson Job, REALTOR®
Bronson JobREALTOR® · GVR Member #6015742 · FVREB Member #FJOBBR