Effective January 1, 2023 a new consumer protection measure in the form of a 3 day cooling off period (or rescission period) will come into effect on all resale real estate transactions in British Columbia.

In this video, Surrey Real Estate Specialist Steve Karrasch of Macdonald Realty walks through some of the new details recently released in terms of the new rescission period, including the associated fee and the new paperwork that will be required.

#SurreyRealtor #SurreyRealEstate #RightofRescission

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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.