Buying a home in Nova Scotia - Rule Change

By
Real Estate Agent with EXP Realty Canada Inc. NSREC# 9421

As of January 4, 2022, the province of Nova Scotia Real Estate Commission implemented a new rule that changed how a property is considered sold during the purchase transaction. A form 408 needs to be signed removing the conditions to the offer and consider the property sold. Without it, the seller can consider the offer null and void and accept another offer. Big change from before when it was assumed all was good when there is no notification of dissatisfaction upon the deadline.

Comments (2)

Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

I guess Nova Scotia is catching up to the rest of the world and realizing that there's lawsuits just waiting to happen.

Jan 12, 2022 04:57 PM
Tina Parker

Indeed. I always thought it was a recipe for disaster. Thankfully, I didn't have to deal with any.

Jan 13, 2022 01:49 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Tina, good to get the word about this very important change in the purchase process.

Jan 13, 2022 07:20 AM