“Cooling-off period” unnecessary say real estate experts

“It’s going to provide three days for anybody conducting a real estate transaction and any buyers involved in a real estate transaction in the province. It’s going to offer them three days to withdraw their offer,” said Koot.

While real estate experts like the idea of protecting the buyer, they believe there are better ways to do it.

“I understand how they felt the need to implement some sort of protection for this complete, overheated, emotionally driven market,” said Mortgage Expert Christine Buemann. “One thing we have here that I’m proud of is we have exceptional realtors who work well together and who hold themselves to a higher standard.”

The real estate market in Prince George has cooled off, according to Buemann, which is enough to provide buyers with the time they need to buy a house.

“I keep saying the same word, but that emotion is being sucked out of it. We’re going back to logical,” said Buemann.

The cooling off period is projected to come into effect on January 1, 2023.

by Jack Clark

“Cooling-off period” unnecessary say real estate experts

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