Skip to Main content

16.47°^C Vancouver

News Entertainment Sports Videos Shows Podcast Contact Us

Nov 5, 2021 12:30 AM - The Canadian Press

B.C. to introduce 'cooling off' period legislation for real estate

Share On

b-c-to-introduce-cooling-off-period-legislation-for-real-estate

B.C. Finance Minister Selina Robinson is photographed following her budget speech in the legislative assembly at the provincial legislature in Victoria, B.C., on April 20, 2021. THE CANADIAN PRESS/Chad Hipolito

British Columbia's government says it will introduce legislation in the spring aimed at giving homebuyers a chance to change their mind on the purchase of a home.

The so-called cooling-off period would allow purchasers to back out with no or diminished legal consequences.

The B.C. Financial Services Authority also will be consulting with those in the real estate industry and other experts on more ways to protect consumers, including a review of the blind bidding system, which can significantly raise the price of purchase.

Finance Minister Selina Robinson says the COVID-19 pandemic has impacted the real estate market, first by dipping during the initial weeks of the pandemic then surging.

She says the consumer protection consultation ``needs to be done right.''

Blair Morrison, CEO of the financial services authority, says ensuring fair markets and promoting public confidence in B.C.'s real estate sector is a key priority.

Latest news

canadas-economy-grew-0-3-in-may-second-quarter-annualized-growth-estimated-at-3-4

CanadaJul 31, 2026

Canada's economy grew 0.3% in May, second-quarter annualized growth estimated at 3.4%

Canada's economy expanded by 0.3 per cent in May, exceeding market expectations of 0.1 per cent, according to data released Friday by Statistics Canada. The increase follows a 0.6 per cent gain recorded in April, marking a second consecutive month of economic growth. Statistics Canada said the latest figures point to an estimated annualized growth rate of 3.4 per cent for the second quarter of 2026. The estimate is preliminary and will be updated as additional data become available. According to the agency, growth in May was led by a 1.0 per cent increase in the mining, quarrying, and oil and

AlbertaJul 31, 2026

High River man charged with first-degree murder in woman's death

A 36-year-old High River man has been charged with first-degree murder following the fatal shooting of a woman in what RCMP are investigating as a domestic homicide. According to High River RCMP, the victim has been identified as Cayla Bleeker. Police identified the accused as Jarrett Stobbe, 36. Both were residents of High River. RCMP said officers responded to two separate calls from a residence on 112 Street East on Tuesday. Police said Stobbe first contacted RCMP at about 6 p.m., making allegations against Bleeker that investigators later determined were unfounded. A second emergency call

WorldJul 31, 2026

Four bodies recovered after Broad Peak avalanche as search continues for missing climbers

Pakistani rescue teams have recovered four bodies from the site of an avalanche on Broad Peak, where 10 international climbers were reported missing, according to two senior Pakistani government officials. The officials, who spoke on condition of anonymity because they were not authorized to speak publicly, said search operations continued Friday for the remaining six missing climbers. Recovery efforts have been hampered by severe weather in the mountainous region. Authorities have not identified the four people whose bodies were recovered. According to Pakistani officials, teams are working t

prime-minister-carney-announces-10b-investment-to-expand-port-of-vancouver-capacity

CanadaJul 30, 2026

Prime Minister Carney announces $10B investment to expand Port of Vancouver capacity

Prime Minister Mark Carney visited the Port of Vancouver in Delta on Thursday, where he announced a proposed $10 billion federal investment to expand the port's capacity and strengthen Canada's access to international markets beyond the United States. According to the Prime Minister, the expansion project is intended to increase Canadian exports to non-U.S. markets by 50 per cent, with a focus on agricultural products and other key commodities. The federal government says the investment is aimed at improving Canada's trade infrastructure and supporting long-term economic growth. Carney said th

North York trio sentenced in $1.3M stolen liquor trafficking case in Ontario

Three North York residents have been sentenced for their roles in a stolen liquor trafficking operation involving more than $1.3 million worth of alcohol, according to Halton Regional Police. Police said 52-year-old Parminder Sidhu, 56-year-old Rajinder Kaur Sidhu and 25-year-old Navdeep Sidhu appeared in the Ontario Court of Justice in Toronto on July 8. The court imposed sentences ranging from probation to nearly two years in custody. According to Halton Regional Police, the convictions followed a four-month joint investigation conducted by Halton Regional Police, the Toronto Police Service

Related News

North York trio sentenced in $1.3M stolen liquor trafficking case in Ontario

North York trio sentenced in $1.3M stolen liquor trafficking case in Ontario

Three North York residents have been sentenced for their roles in a stolen liquor trafficking operation involving more than $1.3 million worth of alcohol, according to Halton Regional Police. Police said 52-year-old Parminder Sidhu, 56-year-old Rajinder Kaur Sidhu and 25-year-old Navdeep Sidhu appeared in the Ontario Court of Justice in Toronto on July 8. The court imposed sentences ranging from probation to nearly two years in custody. According to Halton Regional Police, the convictions followed a four-month joint investigation conducted by Halton Regional Police, the Toronto Police Service

129 Wildfires Active Across B.C. as Brunswick Complex Fire Remains Out of Control

129 Wildfires Active Across B.C. as Brunswick Complex Fire Remains Out of Control

British Columbia's Minister of Forests and BC Wildfire Service, Ravi Parmar, says 129 wildfires are currently active across the province. According to the BC Wildfire Service, nine of those fires were discovered within the past 24 hours. Parmar said hot, dry conditions combined with strong winds continue to make firefighting efforts challenging. He said the weather is increasing the risk of new wildfire starts and could cause existing fires to grow. Fire crews are working to contain newly reported fires while continuing suppression efforts on incidents already burning. The minister said additi

Illegal firearm smuggling through Surrey border crossing leads to jail sentence

Illegal firearm smuggling through Surrey border crossing leads to jail sentence

A man has been sentenced to two and a half years in prison and prohibited from possessing firearms for 10 years after admitting to smuggling a loaded handgun into Canada through the Surrey border area. According to RCMP Federal Policing Pacific Region Media Relations Officer Cpl. Parmbir Kahlon, the investigation began on Sept. 11, 2025, after the United States Border Patrol notified Canadian authorities that an individual had crossed illegally into Canada near 183 Street and 0 Avenue in Surrey. The RCMP's Integrated Border Enforcement Team (IBET) responded and arrested Jaskaran Banth under th

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

Broadcasting Notice of Consultation

BC Children's Hospital