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Buyers are now entitled to rescind (cancel) a Contract of Purchase and Sale, within a period of 3 business days, after their offer is accepted, even if it is “unconditional”. If they choose to rescind their offer in this scenario, there is a penalty of .25% of the purchase price, payable to the Seller. This penalty does not apply to deals where conditions cannot be removed, and there are some exemptions for homes on leased land.


Prohibition on the Purchase of Residential Property by“Non-Canadians” Act

(CANADA wide)

This means that the Federal government will “prohibit the purchase of residential properties to those who are not Canadian citizens or permanent residents of Canada for a period of 2 years, including corporations that are not incorporated in Canada or are controlled by non-Canadians.


As of Dec 15, 2022, if you resell or “flip” a residential property, either an investment property or your principal residence, any price gain may be deemed to be business income and fully taxable. This rule only applies to gains; individuals cannot report a business loss on a property just because it meets the definition of a flipped property. The Fall Economic Statement 2022 also proposes to extend this rule to gains coming from assignment sales or pre-sale residential construction. So if you hold the rights to a pre-construction residential property and sell those rights for a gain within 12 months, the gain will be deemed to have received business income for tax purposes. Some exclusions may be possible where the property is disposed of due to a qualifying life event (divorce, job transfer, etc.)

  • LONG TERM RENTALS – Bill 44 removes the ability for strata corporations to enforce bylaws that prohibit or restrict long term rentals (1 month or longer). Short term rental bylaws prohibiting AirBnB or VRBO type of uses may still be enforceable however.
  • 55+ AGE RESTRICTION – Only age restrictions of 55+ are enforceable, there can be no other age restrictions
  • ELECTRONIC STRATA MEETINGS are now permitted without the need for a bylaw, no secret ballots at electronic meetings, and persons who attend and are verified in electronic meetings are deemed to be present in person.

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Client Love


Shawn and Reece have been the most solid, delightful, helpful, hardworking team that we have ever worked with in real estate. When selling our home, these guys were there with clear concise information and valuable opinions that helped us to make an informed decision that we were confident…


We chose to list our home with Shawn and Reece for a few reasons. A relative of mine listed his home with them and found them very knowledgeable and professional. I also knew Shawn casually for many years but not professionally or socially. My wife and I met…

DAN & CHRISTIE Emil Anderson Contracting

We had a good experience looking at all types of options around Kelowna, over many months, and we changed our preferences a number of times which Shawn and reece were able to accomodate. At times we felt too picky but at the end of the day, we were…

DEBOE & BRITTANY TRUSS First time home buyers!

Shawn and Reece were awesome to work with! They were very supportive and proactive when we were looking for our house. Not only did they recommend houses within our budget but they also shared their knowledge which helped us make the right decision. We ended up in a…


Shawn and Reece give great personal service. They take time to listen to their clients and faithfully follow through with every detail. No effort is too much.


It’s the privilege, pleasure, and honour, of being part of YOUR journey and YOUR story in one of the biggest decisions you’ll ever make! It’s building ongoing friendships and long-lasting relationships that make our lives richer. It’s knowing we’ve helped make a process that is often overwhelming and…


Shawn and Reece worked so patiently and cheerfully with me, showing me all the possibilities until finally I had found just the right place. They are an amazing team. They gave me their full attention and took my quest seriously, and at the same time we had a…


Both Shawn and Reece were a delight to work with – we not only bought a property but we also sold one through them. In both instances they were very professional, fair, and thoughtful. We would highly recommend them to others, they are a great team who are…


You won’t be disappointed hiring Shawn to sell your property! He will work hard to get the best offer for you and is honest with his feedback. I have listed two very difficult/unique properties with Shawn and the team, and each time he has done an amazing job.

CLINTON AND LESLIE SCHNEE & FAMILY Kelowna, BC (previously of Calgary, Alberta)

The level of service you provided our family is unsurpassed in the realty industry. Besides being highly professional and diligent, you went the extra mile to make our family welcome. You have our full gratitude.

TIM & DEBBIE GRAUMAN Grizzly Metals—Business Partner

Looking for a new home is challenging. Finding a trustworthy realtor is even more challenging. We were aware that Shawn Worsfold would bring a strong personal commitment to integrity to his company. We were also looking for someone who would really “go to bat” for…

DOUG & KAREN Long time friends and repeat clients

In 2016 my husband and I needed a new home that would have room for mom.  Of course we asked our dear friends Shawn and Reece to please help us. We were so satisfied with their past services in both buying and that selling that we knew we…


They worked on our house listing with attention to detail & a sense of urgency . We had offers within days and closed quickly with qualified buyers. Buying or selling, we highly recommend Shawn & Reece – a couple you can trust who are part of a very…


For us, finding a home, meant finding a place where we would set down some roots and raise our girls. As first time homeowners we were both overwhelmed and excited. Working with Shawn and Reece brought a calm and sense of direction throughout the entire process. Shawn patiently…

JULIA Photographer

Buying my first home was a really exciting, crazy and fast process . . . I had a great experience and I’m so happy with my new home! Thanks Shawn & Reece for helping me with everything! I couldn’t have asked for a better experience buying my first…

PERRY & YVONNE Flooring Canada & School District 23

Shawn had brilliant ideas to lower the stress while coordinating what became a complicated sale – we sold our home and purchased another one. Selling your home is definitely not DIY! Shawn & Reece are an exceptionally capable team with helpful hints, lots of patience and flexibility.  They…


Shawn and Reece are a Dream Team to work with. They are so fun and full of life, drive and energy. They worked so hard to find our family the perfect house to renovate in our TOP choice location. Love them!…


Yes we are very pleased with what Shawn and Reece did for us.  Shawn went out of his way to enable us to purchase our property in West Kelowna which we are very happy with. I would highly recommend Shawn as an above average…

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