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HomeNewsHome-buyers cooling off period bill gets green light from BC government

Home-buyers cooling off period bill gets green light from BC government

The legislature has passed a bill to allow a cooling-off period for potential home-buyers after their offer to purchase.

The legislation contains few details about how the procedure will work.

Finance Minister Selina Robinson added the blanks will be filled in, once the B-C Financial Services Authority finishes its investigation into the issue.

Robinson says up to 80 percent of offers to purchase homes are being made with no conditions attached.

She calls that a major threat to potential buyers, and shows why the government had to act quickly to push the legislation through.

with files from Vista Radio newswire

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