Post sale

BCFSA advises government to require that sellers make a disclosure of offers to all prospective buyers who submitted an offer. 

What BCFSA says about this recommendation: “After an enforceable contract is in place, BCFSA’s advice is to require sellers to provide anonymized disclosure of offers, including the sale price and number of offers, to all prospective buyers who submitted an offer.”


What BCFSA says about potential next steps: “BCFSA recognizes that its advice to government impacts existing contract law as well as long-standing real estate transaction practices. As such, the implementation of these enhancements will require thoughtful consideration.

"Further engagement with industry and an extended implementation timeframe to embed changes to industry practice as well as standard forms and contracts will be important.

"Sufficient lead time is also necessary for the industry and consumers to understand the details of the homebuyer protection period and ensure a successful implementation.”