On Thursday, the B.C. Financial Services Authority — which oversees credit unions, mortgage brokers, and insurance brokers in addition to real estate — made recommendations for a pre-offer period and a cooling-off period in B.C. real estate transactions, in addition to other changes.
The three-day cooling-off period, referred to as the homebuyer protection period, would allow a buyer three business days following an accepted offer to conduct due diligence such as inspections, seeking legal advice and to confirm financing.Article content
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Interest rates did it first
Too late.
good effort, but a bit late.