B.C. homebuyers now have a 3-day cooling off period. Should Ontario have one too?

by | Jan 5, 2023 | Blog

British Columbia has become the first province to require a three-day cooling-off period for buyers after they’ve signed a contract to purchase a home. The move will give added protections when making such a large purchase and help buyers avoid high pressure sales tactics, arrange for a home inspection, give buyers more time to secure financing and extra time to be sure the purchase is right for them…Tim Hudak, CEO of the Ontario Real Estate Association (OREA), said you need to have rules for the real estate market that will work for both buyers and sellers in good times and tougher economies as well.

Click here to read more.