This page explains when it applies, how to use it properly, and what it costs, from the law itself and BCFSA's guidance.
The short version
- You can cancel within 3 business days after the date the acceptance was signed. A business day is any day except a Saturday or a holiday.
- You pay the seller 0.25% of the purchase price, taken from the deposit, and the rest of the deposit comes back to you.
- The right covers detached and semi-detached houses, townhouses, apartments in a duplex or multi-unit building, strata lots, manufactured homes on land, and some co-operative interests.
- It does not cover homes on leased land, leasehold interests, auction sales, court-ordered sales, or pre-sales covered by the 7-day right.
- Notice must be in writing, with set contents, and sent by registered mail, fax or email with a read receipt.
What the law says
Section 42(1) of the Property Law Act lets a purchaser of residential real property rescind, which means cancel, the contract of purchase and sale by serving written notice on the seller within the prescribed number of days after the date the acceptance of the offer was signed. The Home Buyer Rescission Period Regulation sets that number at 3 business days, and defines a business day as a day other than a Saturday or a holiday.
The right ends early in one case: section 42(3) says it does not apply once title has been transferred to the buyer. And section 7 of the regulation says the right cannot be waived, so a seller cannot ask you to give it up in the contract.
BCFSA notes that the right applies whether or not a real estate licensee is involved in the sale, and that BC introduced it on January 3, 2023.
Which homes it covers
Section 2 of the regulation defines residential real property for this purpose. It covers a detached house, a semi-detached house, a townhouse, an apartment in a duplex or other multi-unit dwelling, a residential strata lot under the Strata Property Act, a manufactured home affixed to land, and a co-operative interest that includes the right to live in a home. A multiplex home falls within that list, as a strata lot or as an apartment in a multi-unit building.
Section 3 sets out the exemptions. The right does not apply to residential property on leased land, a leasehold interest, a sale at auction, or a sale under a court order or the supervision of a court. Section 42(2) of the Act adds that it does not apply to a contract covered by section 21 of the Real Estate Development Marketing Act, which is the 7-day right that pre-sale buyers have instead.
| Purchase | 3-day right? | Rule |
|---|---|---|
| Strata home in a duplex, triplex or fourplex, resale | Yes | Regulation section 2(e) |
| Townhouse or half duplex, resale | Yes | Regulation section 2(b), (c) or (e) |
| Pre-sale with a disclosure statement | No, the 7-day right applies | Property Law Act section 42(2) |
| Home on leased land, or leasehold | No | Regulation section 3(a) and (b) |
| Auction or court-ordered sale | No | Regulation section 3(c) and (d) |
Property Law Act and Home Buyer Rescission Period Regulation, read on BC Laws 23 October 2026.
How to cancel properly
The regulation sets out what the notice must say and how to send it, and getting it right matters. Under section 5(3), the notice must contain the address, the parcel identifier or a description of the property; the name and signature, or electronic signature, of the buyer who is cancelling; the name of each seller who is a party to the contract; and the date the right is being used.
Under section 5(4), the notice is treated as served if it is sent by registered mail to the seller's address in the contract, by fax to the seller's fax number in the contract, or by email, with a read receipt requested, to the seller's email address in the contract. Under section 5(5), it is treated as served when it is sent. A notice can be served on any day, including a weekend.
In our view, email with a read receipt to the address in the contract is the simplest of the three. Keep a copy of the email and the time it was sent. If you are working with an agent, tell them at once as well, so the deposit can be handled.
What it costs, and the deposit
Section 6 of the regulation requires the buyer who cancels to promptly pay the seller 0.25% of the purchase price set out in the contract. If a deposit was paid, the amount comes out of the deposit, and the rest of the deposit must be paid back to the buyer promptly.
BCFSA adds that when a brokerage holds the deposit and the buyer uses the right, the fee goes straight to the seller and the remainder to the buyer, and no deposit release form is needed.
| Purchase price | Fee to cancel |
|---|---|
| $800,000 | $2,000 |
| $1,000,000 | $2,500 |
| $1,200,000 | $3,000 |
| $1,500,000 | $3,750 |
0.25% of the purchase price, under section 6 of the Home Buyer Rescission Period Regulation.
Counting the days
The count starts the day after the acceptance is signed, and it skips Saturdays and holidays. BC's Interpretation Act defines a holiday to include Sunday, Christmas Day, Good Friday, Easter Monday, Canada Day, Victoria Day, British Columbia Day, Labour Day, the National Day for Truth and Reconciliation, Remembrance Day, Family Day, New Year's Day and December 26. So in practice, a weekend and a statutory holiday push the deadline later.
Three examples show how it works. An acceptance signed on a Monday gives Tuesday, Wednesday and Thursday, so Thursday is the last day. An acceptance signed on a Wednesday gives Thursday, Friday and then Monday, because Saturday and Sunday do not count. An acceptance signed on the Friday before the British Columbia Day long weekend skips Saturday, Sunday and the holiday Monday, so the three days are Tuesday, Wednesday and Thursday.
The regulation does not say a notice must be sent during office hours, and a notice can be served on any day. To avoid any argument, send it well before the end of the last day, and keep proof of the time it was sent.
| Acceptance signed | Business days counted | Last day to cancel |
|---|---|---|
| Monday | Tuesday, Wednesday, Thursday | Thursday |
| Wednesday | Thursday, Friday, Monday | Monday |
| Friday | Monday, Tuesday, Wednesday | Wednesday |
| Friday before a holiday Monday | Tuesday, Wednesday, Thursday | Thursday |
Business day as defined in the Home Buyer Rescission Period Regulation, with holidays as defined in BC's Interpretation Act. Assumes no other holiday falls in the period.
An example on a multiplex home
Suppose your offer of $1,100,000 on a home in a triplex is accepted, with the acceptance signed on a Wednesday. Your 3 business days are Thursday, Friday and Monday. If you decide to cancel, you serve a written notice with the property's address, your name and signature, the sellers' names and the date, by email with a read receipt to the sellers' address in the contract, before Monday ends.
The fee is 0.25% of $1,100,000, which is $2,750. If your deposit is with the brokerage, that amount goes to the sellers from the deposit, and the rest of your deposit comes back to you. No deposit release form is needed in this case, according to BCFSA.
If you do not cancel, nothing happens on Tuesday. The contract continues, and your conditions, if you have them, carry on to their own dates.
How to use the 3 days well
The right exists so buyers have a short time to reflect, arrange an inspection or check financing, without the pressure of losing the home. It is short, and it costs money, so it works best alongside conditions.
In our view, the best use of the 3 days on a multiplex home is to book the inspection and request the strata documents at once, and to confirm with your lender that nothing has changed. If something serious turns up in that time, you can cancel for 0.25% without relying on a condition. If nothing does, your conditions still protect you for the rest of the subject period.
Questions buyers ask
More in Making an Offer
Also worth reading
Where these numbers come from
Every figure on this page comes from the body that issues it. Rules and rates change, so each entry says when we checked it.
- Property Law Act, RSBC 1996, c. 377, sections 42 and 43 (residential real estate right of rescission). BC Laws, King's Printer for British Columbia. Act current to 20 October 2026, accessed 23 October 2026.
- Home Buyer Rescission Period Regulation, B.C. Reg. 175/2022. BC Laws, King's Printer for British Columbia. Current consolidation, accessed 23 October 2026.
- Offers to Sellers (drafting, subject clauses, sellers' options, multiple offers, rescission). BC Financial Services Authority (BCFSA). Current page, accessed 23 October 2026.
- Interpretation Act, RSBC 1996, c. 238, section 29 (definition of holiday). BC Laws, King's Printer for British Columbia. Act current to 20 October 2026, accessed 23 October 2026.
General information only. The rescission period and 0.25% fee on this page are based on BC law as of the dates noted, and the date examples assume no other holiday falls in the period. They are not legal advice. Always consult an independent real estate lawyer or notary before relying on or using the right of rescission.
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