Under BC's Real Estate Services Act (RESA), a licensee presenting an offer must ensure that the buyer understands which of the following about subject clauses?
Correct Answer
D) The effect of each clause, and that removing subjects makes the contract binding
RESA and the Rules require licensees to ensure their clients understand the terms and conditions of contracts, including that subject clauses protect the buyer during the due diligence period and that once subjects are removed, the contract becomes firm and binding.
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Under BC's Homebuyer Rescission Period (HRP), how many business days does a buyer have to rescind a contract of purchase and sale for a residential property?
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Under REDMA, a buyer signs a pre-sale purchase agreement and, the same day, signs the developer's receipt acknowledging they had the opportunity to read the disclosure statement. What rescission right does the buyer have?