What deposit do I need for a BC presale condo?
BC presale deposits are typically 5–15% paid in stages over 12–18 months, commonly 5% on signing, 5% at 90 days, and 5% at 180 days. Every dollar is held in a lawyer's trust account under REDMA.
How to Buy a Presale Condo in British Columbia
A definitive 2026 guide to buying a presale condo or townhome in BC — covering VIP access, contract review, the 7-day rescission period, typical 5–15% staged deposits, GST and the new home rebate, assignment rules, and what happens at completion.
Frequently asked questions
How long is the rescission period in BC?
BC law gives presale buyers a 7-calendar-day rescission period after signing the contract. During that window you can cancel for any reason and receive your deposit back in full.
Do I pay GST on a BC presale condo?
Yes. New construction homes in BC are subject to 5% GST. Eligible first-time buyers can fully rebate the GST on homes under $1,000,000 through the GST New Housing Rebate.
Common BC presale questions
What is a presale condo in BC?
A presale (pre-construction) condo is a home you buy from a developer before it is built, typically at today's price with a staged deposit, and you take possession when construction completes — often 1–4 years later.
How much deposit do I need for a presale in BC?
Deposits are staged and typically total 5%–20% of the purchase price, paid in instalments tied to milestones (e.g., on signing, then at set intervals). The exact structure varies by project and developer.
Do buyers pay commission on a presale?
No. With The Presale Properties Group, buyers pay $0 — the developer pays the buyer-agent commission. Using a buyer-side agent does not increase your price.
Is there GST on presale condos in BC?
Yes. New-construction homes in BC are subject to 5% GST. A partial GST rebate may apply for owner-occupiers depending on the price; investors are treated differently. Confirm specifics for your situation.
Are presale deposits protected in BC?
Under BC's Real Estate Development Marketing Act (REDMA), presale deposits are generally held in trust. Protections and conditions depend on the contract and developer.
What is an assignment sale?
An assignment is the sale of a presale contract to a new buyer before the building completes. Assignment is only allowed if the original developer contract permits it, and tax (including GST on the assignment) can apply.
Why use a buyer-side presale specialist instead of going to the developer's sales centre?
The developer's sales staff represent the developer's interests. A buyer-side specialist represents only you — comparing projects, negotiating incentives, reviewing contracts and disclosure statements, and accessing VIP pricing — at no cost to you.
Who runs The Presale Properties Group?
Uzair Muhammad, a Surrey-based REALTOR (Real Broker) who spent 10 years at the City of Surrey before real estate. The team has helped 450+ buyers and holds a 5.0 Google rating.
What cities does The Presale Properties Group serve?
We help buyers across Metro Vancouver and the Fraser Valley — Surrey, Langley, Abbotsford, Coquitlam, Delta, Burnaby South, Vancouver, Richmond, North Vancouver, New Westminster, Port Moody, Port Coquitlam, Maple Ridge, Mission, Pitt Meadows, White Rock, Chilliwack and Squamish.