BC Home Buyer Rescission Period Calculator
Calculate the deadline for BC's mandatory 3 business day cooling-off period after your offer is accepted. Automatically excludes weekends and BC statutory holidays.
BC Rescission Period: Since January 3, 2023, home buyers in BC have a mandatory 3 business day rescission (cooling-off) period after an offer is accepted. Buyers can cancel the contract within this period by paying a 0.25% rescission fee. Business days exclude weekends and BC statutory holidays.
Calculate Your Rescission Deadline
The date the seller accepted your offer
How the Rescission Period Works
- •The 3 business day period starts the day after your offer is accepted
- •Weekends and BC statutory holidays are excluded
- •You must notify in writing before 11:59 PM on the deadline
- •A 0.25% rescission fee of the purchase price applies
Rescission Deadline
Rescission Period Expires
Friday, March 20, 2026
by 11:59 PM Pacific Time
Day-by-Day Breakdown
This calculator provides estimates based on BC's Home Buyer Rescission Period rules. Statutory holidays are calculated dynamically. Consult your real estate lawyer for confirmation of your specific deadline.
Understanding BC's Home Buyer Rescission Period
British Columbia's Home Buyer Rescission Period (HBRP) gives buyers a mandatory 3 business day cooling-off period after a seller accepts their offer. This protection was introduced on January 3, 2023, under amendments to the Property Law Act, to help buyers avoid making regrettable decisions in competitive real estate markets.
Key Rules
- • 3 business days starting the day after offer acceptance
- • Weekends and BC statutory holidays are excluded
- • Rescission fee: 0.25% of purchase price
- • Written notice required before 11:59 PM on the deadline
- • Cannot be waived by buyer or seller agreement
The 0.25% Rescission Fee
If you decide to rescind your offer during the cooling-off period, you must pay 0.25% of the purchase price to the seller. This fee compensates the seller for taking their property off the market and potentially missing other offers.
Rescission Fee Examples:
- $800,000 home: $2,000 rescission fee
- $1,000,000 home: $2,500 rescission fee
- $1,500,000 home: $3,750 rescission fee
- $2,000,000 home: $5,000 rescission fee
Example: Offer Accepted on Friday
- Friday: Seller accepts your offer
- Saturday & Sunday: Not counted (weekend)
- Monday: Business day 1
- Tuesday: Business day 2
- Wednesday: Business day 3 — Rescission deadline (11:59 PM)
When Does the Rescission Period Apply?
The HBRP applies to most residential real estate purchases in BC, including:
Applies to:
- ✓ Detached houses, condos, and townhouses
- ✓ Residential strata lots
- ✓ Resale properties
Does NOT apply to:
- ✗ New construction from developers (separate 7-day period under REDMA)
- ✗ Assignment of contracts
- ✗ Auction sales
- ✗ Commercial properties
BC Statutory Holidays
The following BC statutory holidays are excluded when counting business days for the rescission period:
- New Year's Day (January 1)
- Family Day (3rd Monday of February)
- Good Friday (varies each year)
- Victoria Day (Monday before May 25)
- Canada Day (July 1)
- BC Day (1st Monday of August)
- Labour Day (1st Monday of September)
- National Day for Truth and Reconciliation (September 30)
- Thanksgiving (2nd Monday of October)
- Remembrance Day (November 11)
- Christmas Day (December 25)
What Vancouver Buyers Need to Know About the Rescission Period
Should I Use the Rescission Period?
The rescission period is designed as a safety net, not a strategy. While it gives you time to reconsider, using it costs 0.25% of the purchase price and may impact your reputation with sellers in future negotiations. It's best used when you genuinely discover an issue that makes the purchase untenable — for example, learning about a major structural problem or a significant change in your financial situation.
Rescission Period vs. Subject Clauses
The rescission period runs alongside any subject clauses (conditions) in your offer. Even if you submit a subject-free offer, you still get the 3 business day rescission period. However, the rescission period is shorter than typical subject periods (5-7 business days), and exercising it costs 0.25%. Subject clauses remain the primary tool for due diligence — use them whenever possible.
Impact on Vancouver's Real Estate Market
The HBRP has given Vancouver buyers more confidence when making offers, particularly in competitive multiple-offer situations. While it hasn't eliminated subject-free offers, it has provided a minimum level of buyer protection. Sellers have adapted by factoring in the 3 business day window before considering their property fully sold.
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Frequently Asked Questions
What is the Home Buyer Rescission Period in BC?
The Home Buyer Rescission Period (HBRP) is a mandatory 3 business day cooling-off period that applies to most residential real estate purchases in British Columbia. After a seller accepts an offer, the buyer has 3 business days to rescind (cancel) the contract. This was introduced on January 3, 2023 under the Property Law Act to protect buyers from making hasty decisions in competitive markets.
How much is the rescission fee in BC?
If you exercise your right to rescind during the cooling-off period, you must pay a rescission fee equal to 0.25% of the purchase price to the seller. For example, on a $1,000,000 home, the rescission fee would be $2,500. On a $2,000,000 home, it would be $5,000. This fee compensates the seller for taking the property off the market.
How are the 3 business days calculated?
The 3 business day rescission period starts the day after the seller accepts the buyer's offer. Business days exclude weekends (Saturday and Sunday) and BC statutory holidays. For example, if an offer is accepted on a Friday, the 3 business days would be Monday, Tuesday, and Wednesday — making Wednesday the rescission deadline.
What properties does the rescission period apply to?
The HBRP applies to most residential real estate transactions in BC, including detached homes, condos, townhouses, and residential strata lots. It does not apply to new construction purchased directly from a developer (which are covered by a separate 7-day rescission period under REDMA), assignments of contracts, or auction sales.
Can the buyer and seller agree to waive the rescission period?
No. The Home Buyer Rescission Period cannot be waived, even if both the buyer and seller agree. It is a mandatory protection under BC law that applies to all qualifying residential transactions. However, buyers can choose not to exercise their rescission right and proceed with the purchase.
How do I rescind an offer during the cooling-off period?
To rescind, the buyer must deliver a written rescission notice to the seller (or their agent) before 11:59 PM on the last day of the rescission period. The notice should clearly state the buyer's intention to rescind. The 0.25% rescission fee must be paid to the seller. Your real estate agent or lawyer can help prepare and deliver the notice.
Does the rescission period affect subject clauses?
The rescission period runs concurrently with any subject clauses (conditions) in the offer. The buyer can still include subjects for financing, inspection, etc. The rescission period provides an additional, separate right to cancel the contract within 3 business days, regardless of whether subjects have been removed. Once the rescission period expires, the buyer can only exit through their subjects (if any remain).
What BC statutory holidays are excluded from business days?
BC statutory holidays excluded from the rescission period calculation include: New Year's Day, Family Day, Good Friday, Victoria Day, Canada Day, BC Day, Labour Day, National Day for Truth and Reconciliation, Thanksgiving, Remembrance Day, and Christmas Day. If a holiday falls on a weekend, the business day calculation still skips the holiday date.
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