BC Rescission Period
Calculator
Calculate your rescission deadline and the 0.25% fee for exercising your right to withdraw from a BC home purchase.
Offer Accepted
Feb 12, 2026
Business Days
3 remaining
Rescission Fee (0.25%)
$0
Purchase Price
$0
Rescission Deadline
Wednesday, February 18, 2026
by 11:59 PM Pacific Time
This calculator provides estimates based on BC's Property Law Act rescission provisions. Business days exclude weekends and BC statutory holidays. Consult a real estate lawyer for legal advice specific to your situation.
What Is the BC Rescission Period?
Since January 1, 2023, buyers of residential real estate in British Columbia have a mandatory 3 business day rescission period after their offer is accepted. During this window, you can withdraw from the purchase for any reason — but you'll pay a rescission fee of 0.25% of the purchase price to the seller.
This right was introduced through amendments to BC's Property Law Act as a consumer protection measure. It gives buyers time to conduct due diligence — like arranging financing or getting a home inspection — even on accepted offers.
Important: The rescission period cannot be waived by either party. It applies automatically to every residential purchase in BC, regardless of what the contract says.
How the Rescission Period Works
Here's a step-by-step overview of how the 3 business day rescission period works in BC:
Offer is accepted
The rescission clock starts the day after the seller accepts your offer. The acceptance date itself is Day 0 — it doesn't count as one of the 3 business days.
3 business day window begins
You have 3 full business days to decide whether to proceed. Business days exclude weekends (Saturday and Sunday) and BC statutory holidays. During this time, I recommend arranging financing, scheduling a home inspection, and reviewing the title and strata documents.
Deadline is at 11:59 PM Pacific Time
The rescission period ends at 11:59 PM Pacific Time on the third business day. If you want to rescind, your notice must be delivered before this deadline.
To rescind, deliver written notice
To exercise your rescission right, deliver written notice to the seller (or their agent) before the deadline. The notice should clearly state you are exercising your right under the Property Law Act.
Pay the 0.25% rescission fee
If you rescind, you must pay the seller a fee equal to 0.25% of the purchase price. On a $1,000,000 home, that's $2,500. This fee is automatically held in trust by the buyer's brokerage.
Rescission Fee at Different Price Points
The rescission fee is always 0.25% of the purchase price. Here are examples at common price points in the Surrey market:
| Purchase Price | Rescission Fee (0.25%) |
|---|---|
| $500,000 | $1,250 |
| $750,000 | $1,875 |
| $1,000,000 | $2,500 |
| $1,500,000 | $3,750 |
| $2,000,000 | $5,000 |
| $3,000,000 | $7,500 |
The rescission fee is paid to the seller if the buyer exercises their right to rescind. It is not refundable.
What Counts as a Business Day?
Business days for the rescission period exclude weekends and BC statutory holidays. This is important because an offer accepted on a Friday won't have its rescission period expire until the following Wednesday (assuming no holidays).
BC Statutory Holidays Excluded
- New Year's Day (January 1)
- Family Day (Third Monday in February)
- Good Friday (Varies)
- Victoria Day (Monday before May 25)
- Canada Day (July 1)
- BC Day (First Monday in August)
- Labour Day (First Monday in September)
- National Day for Truth and Reconciliation (September 30)
- Thanksgiving (Second Monday in October)
- Remembrance Day (November 11)
- Christmas Day (December 25)
Example — Friday Acceptance
Which Properties Does Rescission Apply To?
The rescission right applies broadly to residential property purchases in BC. Here's what's included and what's excluded:
Rescission Applies To
Does Not Apply To
Have Questions About Rescission?
The rescission period can be stressful — especially on a tight timeline. I can help you understand your rights, navigate your options, and make a confident decision.
Frequently Asked Questions
What is the rescission period in BC real estate?
The rescission period is a 3 business day window after an accepted offer during which a buyer can withdraw from a residential real estate purchase. This right was introduced by BC's Property Law Act amendments effective January 1, 2023. The buyer must pay a rescission fee of 0.25% of the purchase price to exercise this right.
How is the 0.25% rescission fee calculated?
The rescission fee is 0.25% of the purchase price. For example, on a $1,000,000 home, the rescission fee would be $2,500. On a $750,000 home, it would be $1,875. This fee is paid to the seller if the buyer exercises their right to rescind.
What counts as a business day for the rescission period?
Business days exclude weekends (Saturday and Sunday) and BC statutory holidays including New Year's Day, Family Day, Good Friday, Victoria Day, Canada Day, BC Day, Labour Day, National Day for Truth and Reconciliation, Thanksgiving, Remembrance Day, and Christmas Day.
When does the rescission period start and end?
The 3 business day rescission period begins the day after the buyer's offer is accepted. It ends at 11:59 PM Pacific Time on the third business day. For example, if an offer is accepted on Monday, the rescission deadline would be Thursday at 11:59 PM (assuming no statutory holidays).
Can the rescission period be waived in BC?
No. The rescission period cannot be waived by either party. It applies to all residential real estate purchases in BC, regardless of what the contract says. This is a mandatory consumer protection provision under the Property Law Act.
Does the rescission period apply to all property types?
The rescission period applies to residential real estate purchases in BC, including single-family homes, townhouses, condos, and vacant residential land. It does not apply to commercial properties, assignment of contracts, or court-ordered sales.
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