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Developer incentives available to buyers this quarter.
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Presale developments in Metro Vancouver’s most active communities.
Hot right nowOrtus
Developed by AB Wall Properties, Ortus is a six-storey condominium building at 8398 Oak Street, in Marpole, Vancouver. The building holds 54 homes and is now…
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Presales in BC, answered
What is a presale condo in BC?
A presale is a home bought before it is built, directly from the developer under a contract and disclosure statement rather than an MLS listing. You pay a deposit now and complete when the building finishes, usually two to four years later.
Why does price per square foot matter?
A starting price tells you nothing on its own, because it depends entirely on the size of the smallest home in the building. Price per square foot lets you compare a Surrey townhome against a Burnaby condo on the same basis, which is why we publish it on every project.
How much deposit do I need?
Most Metro Vancouver developers take 10 to 20 percent in stages, commonly 5 percent on signing then further instalments at set dates. Deposits are held in trust under the Real Estate Development Marketing Act.
What is the 7 day rescission period?
BC law gives every presale buyer seven days after receiving the disclosure statement and signing to cancel for any reason and get the full deposit back. It cannot be waived.
Do I pay GST on a presale?
Yes, 5 percent applies to new construction, separate from property transfer tax. Eligible first time buyers purchasing under $1 million may qualify for a full rebate.
Can I sell before completion?
Sometimes, through an assignment, but only if the contract permits it and the developer consents. Fees usually apply, and BC's flipping tax may apply to gains within two years.


