Is The "Cooling Off Period" A Good Idea?

On March 28, 2022 the Minister of Finance introduced a one sentence amendment that would allow homebuyers the opportunity to back out of a contract within a given amount of time. The details at this point are vague at best, but we wanted to share our thoughts on what we know so far. Essentially, the Bill is being put in place, to be implemented by Summertime, to allow buyers the time to perform an inspection and obtain financing. Well, any good realtor will tell you this ca...