BC Home Buyer Rescission Period: The 3-Day Right to Cancel

In British Columbia, a buyer can cancel an accepted offer on most homes, including a duplex, triplex or fourplex home, within three business days by sending the seller written notice and paying 0.25% of the purchase price. This right is called the Home Buyer Rescission Period. It took effect on January 3, 2023, and its rules are in section 42 of the Property Law Act and the Home Buyer Rescission Period Regulation.

This guide covers the counting, the fee, the notice, and how the right fits with your subjects and deposit. Our guide to making an offer on a resale duplex or multiplex explains the contract itself. Our pre-sale rescission guide covers the separate 7-day right that some pre-sale buyers get.

What the Home Buyer Rescission Period is

The Home Buyer Rescission Period gives a buyer three business days after acceptance to cancel a home purchase for any reason. "Rescind" is the legal word for cancel: the contract ends, and the buyer pays the seller a fee of 0.25% of the price.

The Province of BC marked the start in a news release on January 3, 2023, the day the rules took effect. It said the extra time is meant to help buyers secure financing or arrange a home inspection, and that the fee is there "to help ensure that all parties are taking the transaction seriously." The release also said BC was the first province to bring in a protection period for resale homes and newly built homes.

Three facts set this right apart from the other protections in your contract:

• You need no reason. A subject, such as financing or inspection, lets you leave only when its condition fails. During the three days you can cancel because you changed your mind.
• It applies with or without a REALTOR®. The BCFSA consumer guide says it applies whether or not a real estate licensee is involved. BCFSA is the BC Financial Services Authority, the provincial regulator for real estate licensees.
• Nobody can give it up in the contract. Section 7 of the regulation says the right "cannot be waived." BCFSA adds that this applies to the buyer and the seller alike.

Which homes it covers

The right covers almost every kind of home a family buys in BC. Section 2 of the regulation lists:

• a detached house
• a semi-detached house
• a townhouse
• an apartment in a duplex or other multi-unit dwelling
• a residential strata lot
• a manufactured home that is fixed to land
• a share in a housing co-operative that comes with the right to live in a home

A strata half duplex, a home in a strata triplex or fourplex, and a half duplex on its own lot without a strata all fit inside that list.

Sales the three-day right leaves out

Six kinds of purchase fall outside the Home Buyer Rescission Period. Section 3 of the regulation exempts four of them:

• a home on leased land
• a leasehold interest in a home, where you buy the right to live there for a set number of years and someone else owns the land
• a home sold at auction
• a home sold under a court order or under a court's supervision

Section 42(2) of the Property Law Act adds a fifth: any contract covered by the 7-day right in section 21 of the Real Estate Development Marketing Act (REDMA). BCFSA's guide adds a sixth: a buyer taking over someone else's contract, called an assignment, has no three-day right.

Brand-new duplexes and fourplexes: which right applies

For a brand-new multiplex home, the answer depends on how many strata lots the project has. REDMA's 7-day right, which costs nothing, applies only to a buyer who is entitled to a disclosure statement under that Act. When that right applies, the three-day right does not.

REDMA covers what it calls "development property." For a building divided into strata lots, section 1 of the Real Estate Development Marketing Act sets that at 5 or more strata lots. BCFSA's presales information page tells licensees that "not all new developments or presales are governed under REDMA."

Our reading of the two laws is this. A strata duplex, triplex or fourplex with two, three or four strata lots in total falls below REDMA's 5-lot line. A buyer of a brand-new home in one has no REDMA 7-day right, so the three-day Home Buyer Rescission Period applies, fee included. A project with 5 or more strata lots falls under REDMA, and its buyers get the 7-day right instead.

This matters for the homes on our site. On October 9, 2026, our copy of the MLS® feed held 399 half duplex homes for sale in Vancouver and Burnaby, all new homes built in 2025 or later. When one of them sits in a building of four or fewer strata lots, the three-day rule is the one you will use. Before you sign, ask the seller whether a REDMA disclosure statement exists for the project, and have your lawyer or notary confirm which right your contract carries.

How the three business days are counted

The count starts the day after the acceptance is signed and runs for three business days. The regulation defines a business day as any day other than a Saturday or a holiday. BC's Interpretation Act counts every Sunday as a holiday, along with days such as Good Friday, Remembrance Day, Christmas Day and December 26.

BCFSA's example: if the seller accepts your offer on a Monday afternoon, your right to cancel ends at 11:59 p.m. on Thursday.

Here is an example with a holiday, worked from the same rules. Say your offer is accepted on Friday, November 6, 2026:

• Saturday, November 7 and Sunday, November 8 do not count.
• Monday, November 9 is day one.
• Tuesday, November 10 is day two.
• Wednesday, November 11 is Remembrance Day, a holiday, so it is skipped.
• Thursday, November 12 is day three. Your right ends at 11:59 p.m. that night.

Which date starts the clock. The Act counts from "the date that the acceptance of the offer was signed." If you and the seller trade counter-offers, that is the date the final acceptance was signed. BCREA's list of form changes shows that on December 1, 2025 it added a "Final Acceptance Date" section to its residential Contract of Purchase and Sale, where the accepting party writes in the date, and tied the form's rescission wording to that date. Check that line on your copy the day your offer is accepted.

You can send notice on any day. Section 5(2) of the regulation says a notice may be served on a business day "or any other day," so a notice sent on a Saturday morning counts.

What the fee costs, and how it is paid

The fee is 0.25% of the purchase price written in the contract. The Province puts it as $250 for every $100,000 of price, and gives the example of $2,500 on a $1,000,000 home.

At the prices on our site, the number is larger. The median asking price of the 399 new half duplex homes for sale in Vancouver and Burnaby on October 9, 2026 was $1,799,000. A buyer who cancels at that price owes the seller $4,497.50.

If you paid a deposit. Section 6 of the regulation says the fee comes out of the deposit, and the rest goes back to you promptly. On a 5% deposit of $89,950 at $1,799,000, the seller receives $4,497.50 and you get back $85,452.50. The regulation itself lets the brokerage take both payments out of its trust account, the separate bank account where it holds deposits.

If you have not paid a deposit yet. You still owe the fee. BCFSA says you can pay it to the seller directly or through your REALTOR®, and if you do not pay, the seller can go to court to collect it.

In our view, $4,497.50 is a real cost, and it is small next to the cost of a wrong decision on a $1.8 million home. If something in those three days tells you the home is wrong for your family, the fee is worth paying.

How to give notice

To cancel, you serve written notice on the seller before the third business day ends, as section 42(1) of the Act requires. Section 5(3) of the regulation says the notice must include:

• the address, the parcel identifier (the number the Land Title Office uses for the property) or a description of the home
• the name and signature, or electronic signature, of the buyer who is cancelling
• the name of each seller on the contract
• the date you are cancelling

Section 5(4) sets three ways to deliver it, each using contact details written in the contract:

• registered mail to the seller's address
• fax to the seller's fax number
• email to the seller's email address, with a read receipt requested

The notice counts as served the moment you send it, under section 5(5). BCFSA notes that many sellers put their REALTOR®'s email in the contract instead of their own, and that your REALTOR® can send the notice for you.

Three habits make this easier:

• Before you sign the offer, check that the contract shows an email address or fax number for the seller.
• Put the exact deadline in your calendar the day the offer is accepted: 11:59 p.m. on day three.
• If two generations are buying together, agree as a family before anyone sends a notice, and ask your lawyer who needs to sign.

How it works with your subjects and your deposit

Your subjects and the three-day right run at the same time. BCFSA's guide says it plainly: subjects such as financing and inspection "run concurrently with the rescission period," and the period "DOES NOT begin after subject removal." The three days overlap the start of your subject period.

An inspection booked for day one or day two gives you the report while you can still cancel for any reason. If your lender needs more than three business days for full approval, your financing subject stays your protection after day three.

When a subject fails inside the three days. You may then have two ways out. A failed subject can end the deal under the contract's own terms, with no 0.25% fee, though the brokerage needs a release signed by you and the seller before it returns your deposit. The rescission right costs the fee and needs no reason. Talk to your lawyer about which one fits before you send anything.

Subject-free offers still carry the three days. Because the right cannot be waived, an offer with no subjects at all keeps it. In our view, a buyer who offers without subjects should use those three days for the checks skipped before the offer, such as reading the strata documents and the title search with a lawyer. Our guide to choosing a lawyer or notary explains who does that work.

What your REALTOR® must tell you

BCFSA requires a licensee to explain the right twice: first on the Disclosure of Representation in Trading Services form, at the start of your working relationship, and again when your REALTOR® prepares or presents an offer. The second explanation must cover the fact that the right cannot be waived, how long you have, the fee in dollars, the return of the rest of your deposit, and the sales the right does not cover.

If you buy without your own REALTOR®, the seller's licensee gives you the first form only, so track the dates yourself or with your lawyer.

What this comes down to

• You have three business days after the acceptance is signed to cancel a purchase of most BC homes, for any reason.
• Saturdays, Sundays and holidays do not count, and the right ends at 11:59 p.m. on day three.
• Cancelling costs 0.25% of the price: $4,497.50 at the $1,799,000 median asking price of new half duplex homes in Vancouver and Burnaby on October 9, 2026.
• Notice must be in writing, include four set details, and go to the seller's contact details in the contract.
• Nobody can waive the right, so even a subject-free offer keeps it.
• A brand-new strata duplex, triplex or fourplex with fewer than 5 strata lots in total falls under this three-day right, in our reading. Confirm it with your lawyer before you sign.

Frequently asked questions

What is the Home Buyer Rescission Period in BC?

It is a right, in force since January 3, 2023, that lets a buyer cancel an accepted offer on most BC homes within three business days. The buyer sends the seller written notice and pays 0.25% of the purchase price. The rules are in section 42 of the Property Law Act and its regulation.

How many days do I have to cancel a home purchase in BC?

Three business days. The count starts the day after the acceptance is signed, and Saturdays, Sundays and holidays are skipped. BCFSA's example: an offer accepted on a Monday afternoon can be cancelled until 11:59 p.m. that Thursday. A holiday in the middle moves the deadline one day later.

How much does it cost to cancel during the rescission period?

The fee is 0.25% of the purchase price, or $250 for every $100,000. On a $1,000,000 home it is $2,500. At $1,799,000, the median asking price of new half duplex homes in Vancouver and Burnaby on October 9, 2026, it is $4,497.50.

Can I waive the rescission period to make my offer stronger?

No. Section 7 of the Home Buyer Rescission Period Regulation says the right cannot be waived, and BCFSA says this binds the buyer and the seller alike. A subject-free offer still carries the three days.

Does the rescission period apply to a brand-new duplex or fourplex?

In our reading, yes, when the project has fewer than 5 strata lots in total. REDMA's free 7-day right covers projects of 5 or more strata lots, and the three-day right is switched off only where REDMA's right applies. Ask your lawyer to confirm which right your contract carries.

Does it apply to pre-sale homes?

Where REDMA's section 21 applies, the buyer gets REDMA's 7-day right, which has no fee, and the three-day right does not apply. That covers pre-sales in projects of 5 or more strata lots. A buyer who takes over someone else's pre-sale contract through an assignment has no three-day right.

Do I get my deposit back if I cancel?

You get back the deposit minus the 0.25% fee. The regulation says the fee is paid to the seller from the deposit and the rest is returned to you promptly. On a $89,950 deposit at a $1,799,000 price, the seller keeps $4,497.50 and you receive $85,452.50.

How do I send a notice of rescission?

Send a signed written notice by registered mail, fax or email with a read receipt, using the seller's contact details in the contract. It must name the property, the buyer cancelling, each seller, and the date. It counts as served when you send it, and your REALTOR® can send it for you.

Does the rescission period start after subject removal?

No. BCFSA says the period begins the next business day after your offer is accepted and runs at the same time as your subjects. If your subject period runs longer than three business days, the right to cancel ends before you remove subjects, so plan your inspection and document review for the first days.

Do I have to give a reason for cancelling?

No reason is needed. You can cancel because the inspection worried you, your family changed its plans, or you found another home. The only conditions are timing, a written notice with the required details, and payment of the 0.25% fee to the seller.

Does the rescission period apply to a private sale with no REALTOR®?

Yes. BCFSA's consumer guide says the right applies to residential sales whether or not a real estate licensee is involved. In a private sale, nobody is required to remind you of the deadline, so mark the date yourself.

What if I have not paid a deposit yet when I cancel?

You still owe the seller 0.25% of the price. BCFSA says you can pay it directly to the seller or through your REALTOR®. If you do not pay, the seller can take you to court to recover the amount. BCFSA also notes that a deposit is not required with an offer.

Does the rescission period apply to leasehold homes?

No. The regulation exempts homes on leased land and leasehold interests, where you buy the right to live in a home for a set number of years while someone else owns the land. Homes sold at auction or under a court order are also exempt. Check the listing details early.

Can I send my notice on a weekend?

Yes. Section 5(2) of the regulation says a notice may be served on a business day or any other day. Weekend days are left out of the three-day count, and a notice emailed with a read receipt on a Saturday or Sunday counts as served when you send it.

General information only. The 0.25% fee, the dollar examples, the deposit example and the counting examples on this page are illustrations based on the Property Law Act, the Home Buyer Rescission Period Regulation, REDMA and BCFSA guidance as of October 2026, and on asking prices in our MLS® feed on October 9, 2026. They are not legal or financial advice, and not a guarantee of any outcome. Laws, regulations and contract forms change. Always consult an independent real estate lawyer or notary, and your REALTOR®, before you sign an offer or send a notice of rescission.

When you are ready to look at homes, browse new duplexes for sale in Vancouver and in Burnaby, see every multiplex home on our site, or talk to our team about the dates in your next offer.