The real estate board for the BC Interior has made rules changes that will help level the playing field for home buyers.
No More Bully Offers
This is when a seller sets a date to look at offers and then accepts an offer before that stated date. This is no longer allowed. If sellers choose to hold off offers until a specified date, they may receive offers, but will not be able to accept any until that stated date.
No More Escalation Clause
This clause allowed buyers to state that they would pay a certain amount above the next highest offer. That clause is no longer allowed to be written, presented, or accepted. Buyers and their realtors will once again enter negotiations on a more level playing field.
