BC Home Buyer Rescission Period Calculator
By Hami Tahm · Last reviewed October 2026
How long do you have to back out of a home purchase in BC?
Three business days after the day your accepted offer is signed, until 11:59 p.m. on the third business day — weekends and BC holidays don't count. Backing out costs a rescission fee of 0.25% of the purchase price, paid to the seller ($2,500 on a $1,000,000 home).
Your accepted offer
Last day to rescind
Thursday, November 12, 2026
Notice must be delivered by 11:59 p.m. that day.
Rescission fee (0.25%, paid to the seller)
$2,500
The three business days
- Monday, November 9, 2026
- Tuesday, November 10, 2026
- Thursday, November 12, 2026
Not counted: Sat, Nov 7 (Saturday), Sun, Nov 8 (Sunday), Wed, Nov 11 (Remembrance Day).
Estimate only. This calculator applies the BC Interpretation Act holidays that recur every year; it can't know about a one-off day proclaimed by the government. Confirm the exact deadline with your realtor or lawyer before relying on it.
Key Takeaways
- BC buyers can cancel an accepted offer on most residential property within 3 business days, for any reason, without the seller's consent.
- Day 1 is the day after acceptance; the period ends at 11:59 p.m. on the third business day. Weekends and BC holidays are skipped.
- The fee is 0.25% of the purchase price, fixed by regulation and paid to the seller — the rest of any deposit comes back to the buyer.
- The right can't be waived. Leasehold, auction, court-ordered and REDMA presale purchases are exempt.
How the BC rescission period works
Since January 3, 2023, section 42 of BC's Property Law Act has given buyers of most residential property a short cooling-off window after their offer is accepted. During those three business days a buyer can cancel the contract by delivering written notice to the seller, for any reason, and pay a fee of 0.25% of the purchase price. Sellers have no matching right, and the right applies even if the contract of purchase and sale doesn't mention it.
The period doesn't replace subject clauses. If you need time for financing, an inspection or strata documents, write those subjects into the offer — rescinding costs money; removing an unmet subject doesn't. Most BC buyers will also face BC property transfer tax and the other closing costs of buying in BC if they go ahead, so it's worth knowing the full cash picture before the period runs out.
Rescission fee by purchase price
| Purchase price | Rescission fee (0.25%) |
|---|---|
| $400,000 | $1,000 |
| $750,000 | $1,875 |
| $1,000,000 | $2,500 |
| $1,500,000 | $3,750 |
| $2,000,000 | $5,000 |
Which days count
Business days are Monday to Friday, excluding holidays under section 29 of BC's Interpretation Act: New Year's Day, Family Day, Good Friday, Easter Monday, Victoria Day, Canada Day, BC Day, Labour Day, the National Day for Truth and Reconciliation, Thanksgiving, Remembrance Day, Christmas Day and December 26. A holiday that lands on a weekend doesn't give you an extra weekday.
Two worked examples
Offer accepted on a Monday with no holiday that week → the period ends 11:59 p.m. Thursday.
Offer accepted on a Friday → Saturday and Sunday are skipped, so the period runs Monday to Wednesday and ends 11:59 p.m. Wednesday.
Frequently asked questions
Sources
- BC Financial Services Authority — Home Buyer Rescission Period FAQ
- Home Buyer Rescission Period Regulation, BC Reg 175/2022 — BC Publications (King's Printer)
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