Can You Cancel a Pre-Sale Contract in B.C.? Your Rescission Rights Under REDMA Explained
If you’re buying a presale condo or townhome in North or West Vancouver, you may be wondering: Can I back out of the deal after signing the contract?
Under the Real Estate Development Marketing Act (REDMA), the answer is yes — but only under specific conditions.
Whether you're still within the 7-day rescission period, or you never received a required Disclosure Statement, REDMA provides protections that may allow you to cancel the contract without penalty — even after title has transferred in some cases.
In this post, we’ll break down when and how B.C. buyers can legally rescind a pre-sale contract, what to watch for in the Disclosure Statement, and what steps to take if you change your mind.
How Long Do You Have to Cancel a Pre-Sale Contract in B.C.?
Under REDMA, buyers have seven days to cancel a pre-sale contract in British Columbia. This is known as the rescission period and applies to most pre-construction home purchases, including new condos and townhomes.
The 7-day countdown begins on the later of:
- The date you signed the purchase agreement, or
- The date you signed a written acknowledgment confirming that you received and read the Disclosure Statement.
During this period, you can cancel the agreement for any reason, with no financial penalty.
Can You Cancel a Pre-Sale in B.C. If You Didn’t Get a Disclosure Statement?
Yes. If the developer fails to give you a Disclosure Statement you’re entitled to under REDMA, you have the right to rescind the contract at any time — even after the title has transferred.
This legal protection exists because the Disclosure Statement contains key information about the development, including unit specs, project timelines, common property, strata rules, and deposit terms.
Note: This does not apply if the only reason you didn’t receive the disclosure is due to a specific request you made that wasn’t fulfilled. The rescission right applies when the developer fails to deliver what they’re obligated to under REDMA.
What Happens If a Developer Makes Changes After You Signed a Pre-Sale Contract?
If the developer makes a material change (such as changes to unit size, building features, or completion timing) and does not issue an amended Disclosure Statement, you may still have the right to rescind the contract — even if you already took possession.
To qualify, these conditions must be met:
- The change relates to something material and relevant to your decision to purchase
- You were not provided an amended Disclosure Statement reflecting that change
- You act within one year of title transfer
This right is designed to protect buyers from being locked into agreements that no longer match the original offer.
Because this type of rescission often involves complex facts and legal interpretation, it’s strongly recommended that you consult a real estate lawyer if you feel you are entitled to rescind your contract.
How to Rescind a Pre-Sale Contract in B.C. Under REDMA
If you want to cancel a pre-sale contract, you must provide written notice of rescission to the developer or their representative.
There’s no special form, but the notice must clearly state your intent to rescind. It’s a good idea to send it in a trackable form (such as registered mail or email with confirmation of receipt).
Once received, the developer is required to inform the party holding your deposit, which must then be returned to you promptly.
FAQ: Cancelling a Pre-Sale in B.C.
Q: How do I cancel a pre-sale contract in B.C.?
Submit a written notice of rescission to the developer within the time allowed by REDMA.
Q: Can I cancel a pre-sale contract after the 7-day rescission period?
Yes — in limited cases where you never received the required Disclosure Statement or if the developer made a material change without notifying you.
Q: Do I get my deposit back if I cancel under REDMA?
Yes. If your rescission is valid under REDMA, your full deposit must be refunded.
How Is This Different from the Homebuyer Protection Period (HBRP)?
It's important to understand that REDMA rescission rights are not the same as the Homebuyer Protection Period (HBRP) introduced in 2023 for resale homes in B.C.
The HBRP applies to most residential real estate purchases (like detached homes, resale condos, or townhomes) and gives buyers 3 business days to cancel after an accepted offer—regardless of subject conditions.
In contrast, REDMA applies specifically to pre-construction (presale) developments, such as new condos or townhomes sold by developers. Under REDMA, buyers have 7 calendar days to rescind the contract, starting from the later of signing the agreement or acknowledging receipt of the Disclosure Statement.
Additionally, REDMA includes longer-term protections if the developer fails to disclose material information or makes significant changes without proper notice—something HBRP does not cover.
So if you're buying a presale, your rescission rights fall under REDMA, not HBRP—be sure you know which applies to your situation.
Buying a pre-sale home in B.C. comes with exciting opportunities — but also important legal protections you need to understand. Under the Real Estate Development Marketing Act (REDMA), you have a clear 7-day rescission right that gives you time to review, reflect, and ensure everything disclosed about the development is accurate and complete.
Before signing, be sure to receive a copy of the Disclosure Statement, understand your rescission deadline, and speak with a trusted real estate professional if anything feels unclear.
If you’re considering rescinding a presale contract after closing or due to non-disclosure, getting legal advice is essential to understand your rights and next steps.
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