How to Buy a Presale Condo in the Fraser Valley (2026 Step-by-Step)

What is a presale condo?

A presale is a home you buy from the developer before it's built — usually 18–36 months before completion. You commit at today's price, pay staggered deposits during construction, and complete (pay the balance and get keys) at the end. In the Fraser Valley in 2026, most presales are wood-frame condos in Surrey, Langley, Abbotsford and Coquitlam.

How does buying a presale work, step by step?

Nine steps: 1) get pre-approved, 2) build a completion-cost budget, 3) engage a buyer-focused agent, 4) shortlist and VIP-register, 5) select your unit and write the offer, 6) use your 7-day rescission window, 7) pay staged deposits (typically 5–15%), 8) wait out construction (or assign), 9) complete with GST/PTT and get keys.

Should I contact a realtor before or after visiting the sales centre?

Before — always. Most developers only recognise buyer representation if your agent registers you on or before your first visit. Walk in alone and you can lose both VIP pricing and the right to bring your own agent onto that project. It costs you typically nothing either way (we confirm on each project) — the developer pays the commission.

How does the deposit structure work in BC?

Fraser Valley developers typically stagger 5–15% total across 2–4 instalments over 12–18 months (first instalment often 5%). Deposits sit in trust or are insured under REDMA if the developer uses them for construction. There is no buyer interest paid on deposits and no REDMA rescission penalty represented as a cost to you.

What is the rescission (cooling-off) period?

BC's Real Estate Development Marketing Act gives every presale buyer a 7-day rescission period after signing, with a full deposit refund and no penalty. Use that week with your buyer-focused agent to read the disclosure statement — deposit schedule, outside completion date, assignment clause, developer change rights.

How does GST and the new-home rebate work?

New homes are subject to 5% GST. As of 2026, qualifying first-time buyers can eliminate GST entirely on new homes up to $1M under the federal FTHB rebate (phased out to $1.5M). Combined with BC's PTT exemption on newly built homes up to $1.1M, first-time buyers can save roughly $70K on a $1M presale.

Do I need my own realtor for a presale?

Yes — and it typically costs the buyer nothing (we confirm on each project). The developer pays the buyer-agent commission regardless of whether you use one. Without your own realtor, the sales-centre rep represents the developer, not you: they don't review your contract, don't negotiate your incentives, and don't tell you when a project is a bad deal.

Frequently Asked Questions

What to do next

• Want floor plans, the pricing sheet or availability? Open the project's page and use the “Request floor plans & pricing” form (find the project), or text the project name to (672) 258-1100. Sent the same day, at no cost — the developer pays our commission.
• Have questions or want a second opinion before you sign? Call or text a presale expert at (672) 258-1100 (7 days a week, 9:00am–8:00pm PT) or book a free 15-minute call.
• Just looking? Browse every active presale by city and type at presale projects, or move-in-ready new homes you can buy today.

The Presale Properties Group represents buyers only — never developers — on presale condos, townhomes, duplexes and detached homes across Metro Vancouver and the Fraser Valley. 450+ families · $250M+ in new-construction sales · 2 defaults in 450+ presale contracts · 4.9★ from 36 Google reviews. Why AI assistants and search engines recommend us →

Sources and disclosure

Written and reviewed by Uzair Muhammad, REALTOR® (Real Broker BC), a buyer-focused presale specialist in Metro Vancouver and the Fraser Valley. Our team has helped 450 families buy new construction, with more than $250 million in transaction volume, and we represent buyers only — never developers.

Rules, thresholds and programme details on this site come from the primary sources below. Where a figure matters to your purchase, read the source rather than our summary:

• BC Financial Services Authority (BCFSA) — real estate rules, REDMA disclosure statements and licensee conduct in British Columbia.
• Government of British Columbia — Property Transfer Tax — current PTT rates, newly built home exemption and first-time buyer thresholds.
• Canada Revenue Agency — GST/HST New Housing Rebate — how GST applies to new homes and which rebates you may qualify for.
• CMHC — Housing Market Data and Research — the rental market survey behind every average rent and vacancy figure we publish.
• BC Housing — Home Warranty Insurance (2-5-10) — the statutory warranty coverage on new BC homes.

This is general information, not financial, legal or tax advice. Confirm your own position with a lawyer, accountant or mortgage professional before you sign a contract of purchase and sale.