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Putting the chill back in home buying

11/10/2021

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The province is looking to put in a "cooling off" period for home buyers in an effort to make sure buyers have the time they need to make fully informed decisions, rather than leaping into a purchase with no conditions or doing blind bidding.

The announcement took the Victoria Real Estate Board by surprise as they asked the question what problem the province is actually trying to solve.

The BC Financial Authority will be reaching out to stakeholders and experts over the next two months with a goal of providing the right information to the government. Current plans are to bring in legislation in the spring focused on protecting both the seller and the buyer in this over-heated, under-supplied real estate market.
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  • Membership
    • Why Join?
    • Job Board
    • Member to Member Offers
    • Benefits, Discounts & Savings >
      • Chamber Store
    • Chamber Local
    • Questions & Answers
    • Join Now
    • Member Login
  • Member Directory
    • All Categories
  • Events
    • Signature Events >
      • Annual Auction
      • Business Hall of Fame
      • Business Awards >
        • 2022 Business Awards Winners and Finalists
      • Picnic in the Park
      • Business Leaders Series
    • Event Calendar >
      • Chamber Events
      • Community Events
    • Event Photos 2022
    • Sponsorship
  • COVID-19
    • COVID-19 Initiatives >
      • Shop Chamber Local
      • Picnics & Patios Contest
    • COVID-19 Links
  • News & Advocacy
    • Weekly BizNews >
      • BizNews-articles
    • Advocacy / Wins for Business >
      • Advocacy Wins
      • Business Property Taxes
      • Advocacy Priorities
    • Chamber Chats
    • In the News >
      • Published Op-Eds
      • Media Releases
    • Non-market housing
    • Find and keep workers
    • Business Matters Magazine
  • Prodigy Group
    • Mentorship Program
    • Prodigy Group Committee
    • Prodigy Events
    • Contact the Prodigy Group
  • About Us
    • Staff Directory
    • Board & Governance >
      • Governors
      • By-Laws, Plans & Reports
      • Committees
    • Chamber History
    • Partners & Sponsors
    • About Victoria >
      • Starting a Business
      • Moving Here
      • Visiting Victoria, BC
    • Contact Us