Cooling-off periods in Canadian real estate, province by province (2026)

The right to walk away — what exists, and what does not

Province	Situation covered	Period	Cost of rescinding
British Columbia	Almost any residential purchase — resales included	3 business days	0.25% of the price ($2,500 per million) — right cannot be waived
Ontario	NEW condo bought from the developer only	10 days	None — full refund
Alberta	NEW condo bought from the developer	10 days	None — refund within 15 days
Manitoba	Condo purchase, after delivery of the required documents	7 days	None — deposit refunded with interest
Quebec	NEW home or condo from a builder (preliminary contract)	10 days (right of withdrawal)	Stipulated indemnity, capped at 0.5% of the price
Saskatchewan, NS, NB	All situations	No period found	— an accepted offer is firm
Everywhere (except BC and MB condos)	RESALE between individuals	None	— only your conditions protect you

Rules verified at source on 2026-08-12: BC — Home Buyer Rescission Period, Property Law Act and regulation, in force since January 3, 2023 (BCFSA); Ontario — s. 73 of the Condominium Act, 1998 (the clock starts at the last received of: agreement, disclosure documents, condo guide); Alberta — Condominium Property Act, rescission within 10 days of the later of signing or document delivery; Manitoba — Condominium Act; Quebec — arts. 1785-1786 C.C.Q. A substantial renovation sold by a builder follows the new-build rules.

BC invented a right nobody else offers

Since January 3, 2023, every residential buyer in British Columbia has 3 business days after acceptance to rescind — resales included, with or without an agent, and with no way to waive it in the contract. The price of that right: 0.25% of the accepted price ($2,500 per million), paid to the seller, deducted automatically from the deposit held in trust. Born of the "subject-free" bidding wars of 2021-2022, it is the country's only general cooling-off period — and one of the web's most misquoted rules: it applies ONLY in British Columbia.

An important nuance: the period starts the day after acceptance and counts business days only (no weekends or holidays). Rescinding a $900,000 purchase on day three costs $2,250 — the price of dodging a botched inspection, but not free: a written inspection condition remains the better tool; the rescission period is the safety net.

On new builds, four provinces protect you — on resales, almost none do

Buying a new unit from a developer is the only other ground where the law gives you time: 10 days without penalty on a new Ontario condo (the clock only starts once you have received EVERYTHING — agreement, disclosure documents AND the official guide), 10 days in Alberta (with a mandatory refund within 15 days), 7 days in Manitoba after document delivery. In Quebec, the preliminary contract — mandatory for any sale of a new home by a builder — must include a 10-day right of withdrawal; if the contract stipulates an indemnity, it cannot exceed 0.5% of the price (art. 1786 C.C.Q.). Watch Ontario's trap: a new FREEHOLD house has no period at all — the 10 days covers condos only.

For everything else — a resale in Ontario, Quebec, Alberta, the Maritimes — an accepted offer is a firm contract. Protection is not a legal deadline; it is written BEFORE you sign: an inspection condition, a financing condition, and for a condo the review of the status certificate — whose legal delivery deadline (7 to 15 days depending on the province) should dictate your condition's length. Waiving those conditions in a bidding war means waiving the only exit you will ever have.

Frequently asked questions

Can I cancel an accepted offer to purchase in Canada?

In Canada, an accepted offer to purchase is in principle FIRM — with four legal exceptions. British Columbia is the only province with a general right: 3 business days to rescind almost any residential purchase, for a fee of 0.25% of the price, a right that cannot be waived (in force since January 2023). On NEW homes bought from a developer: 10 days without penalty on an Ontario condo, 10 days in Alberta, 7 days in Manitoba, and in Quebec a 10-day right of withdrawal in the preliminary contract, with the indemnity capped at 0.5% of the price. Everywhere else — and for any resale outside BC — there is NO cooling-off period: the only way out is the conditions you wrote into the offer (inspection, financing, document review).

How much does BC's 3-day rescission cost?

0.25% of the accepted price: $1,250 on $500,000, $2,500 on a million. The amount is paid to the seller — deducted directly from the deposit held in trust, with the balance refunded to you. The period is 3 business days starting the day after acceptance, and neither buyer nor seller can contract out of it.

Is there a cooling-off period on a resale home?

Outside British Columbia: no, nowhere. An accepted offer on a resale is firm in Ontario, Quebec, Alberta, the Prairies and the Maritimes. Your only exits are the conditions written into the offer (inspection, financing, condo-document review, sale of your current home). That is why they should not be lightly sacrificed in a bidding war.

How does Quebec's right of withdrawal work?

Any sale of a new home by a builder or developer goes through a preliminary contract (art. 1785 C.C.Q.), which must include a 10-day right of withdrawal. You may withdraw within that period; if the contract stipulates an indemnity, it is capped at 0.5% of the sale price (art. 1786) — $2,500 on a $500,000 home. On a resale between individuals, no right of withdrawal exists.

When does the 10-day period start on a new Ontario condo?

At the latest of: receiving the signed purchase agreement, receiving the developer's disclosure documents, and receiving the official condo buyer's guide. Until every piece is delivered, the clock has not started — a developer slow to disclose extends your own right to cancel. Termination carries no penalty and the deposit is refunded in full.

Sources

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Cancelling an accepted offer: the cooling-off periods, province by province