British Columbia gives home buyers a short window to change their minds after an offer is accepted. This page explains how it works under the Property Law Act (section 42) and the Home Buyer Rescission Period Regulation.
How it works
In B.C., a buyer of a home can cancel an accepted offer within 3 business days by giving written notice and paying the seller 0.25% of the price, which comes out of the deposit; the right can't be waived, and homes on leased land, auction and court-ordered sales, and new developments with their own rescission right are exempt.| In effect since | January 3, 2023 |
| Length | 3 business days after the date the acceptance of the offer was signed. Saturdays and holidays don’t count |
| Reason needed | None |
| Cost | 0.25% of the purchase price, paid to the seller |
| Deposit | The fee comes out of the deposit, and the rest is returned to the buyer promptly |
| Waiver | Not allowed: the right can’t be waived |
What cancelling costs
| Purchase price | Rescission fee |
|---|---|
| $500,000 | $1,250 |
| $1,000,000 | $2,500 |
| $1,500,000 | $3,750 |
Which purchases it covers
It covers residential property: detached and semi-detached houses, townhouses, apartments in duplexes and other multi-unit buildings, residential strata lots, manufactured homes fixed to land, and co-op interests with a right to live in a home. It doesn’t apply to:
- homes on leased land, or leasehold interests
- homes sold at auction
- homes sold under a court order or under court supervision
- purchases covered by section 21 of the Real Estate Development Marketing Act, which gives buyers of new developments their own rescission right
- a purchase where title has already been transferred to the buyer
How to give notice
The notice must be in writing and include the property’s address, parcel identifier or description, the name and signature of the buyer cancelling, the name of each seller, and the date. It can be served on any day. It’s treated as served when it’s sent by registered mail, fax or email with a read receipt to the seller’s address, fax number or email in the contract.
The period gives a buyer time to reconsider, but it doesn’t replace conditions such as financing or an inspection. Those still need to be in your offer if you want them. Buying a house in British Columbia covers the rest of the process.
Related pages
Sources
The figures and rules on this page come from these sources, last checked against them between September 25, 2026 and September 29, 2026. How we check facts.
- BC Laws: Home Buyer Rescission Period Regulation
- BC Laws: Property Law Act