On January 1 2023 The Home Buyer Rescission Form became a new document as and to the changes to the Real Estate Services Act in British Columbia, to help navigate a "cooling off" period where buyer can rescind a contract within 3 business days after acceptance of their offer.
The reason behind the Home Buyer Rescission it to allow the Home Buyer a window of time to have a change of heart about the purchase of the newly interested property, and that would not form a part of their regular subject conditions.
More info can be read here. RECBC.ca
