B.C. financial regulator recommends new pre-offer period to temper hot real estate market

  • 📰 VancouverSun
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 61%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The five\u002Dday pre\u002Doffer period would require a listing remain on the market for a minimum of five days before offers are accepted. Sellers would also be required to share property disclosure forms and key strata documents up front as part of the listing process.

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

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Interest rates did it first

Too late.

good effort, but a bit late.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 49. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines