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FAQs
Get answers to common questions about real estate investments and their processes.
A presale is a contract to buy a condo or townhome that hasn’t been built yet. You pay deposits now and close when construction completes—protected by a 7-day rescission right under REDMA.
Most Metro-Vancouver projects ask between 5 – 25 % total deposit, usually split into 3-4 installments over the first year; funds stay in trust.
An assignment lets you transfer your purchase contract to someone else, subject to the developer’s approval and a typical 2–5 % assignment fee (plus CRA/CSAIR reporting).
You’ll pay 5 % GST on completion, except first-time buyers now owe 0 % GST on new homes up to $1 million and a reduced rate up to $1.5 million (announced May 2025). PTT still applies at registration.
You can cancel for any reason within seven days of signing or receiving the disclosure statement and get all deposits back.
A disclosure statement is a legal document required under REDMA and filed with the Superintendent of Real Estate. It must be in writing, follow the Superintendent’s prescribed form, disclose all material facts, set out the purchaser’s 7-day rescission rights, and be signed. Inside you’ll find project details (legal description, unit sizes and finishes), developer background, deposit schedule, construction timeline or phasing, common-property & strata information, estimated operating budget, warranties, and any risks that could affect value or completion. Read it carefully—if material facts are missing or wrong, you may rescind the contract or seek remedies.
Contracts allow developers 6-12 months of extensions; beyond that you can usually cancel and receive your deposit (plus interest) back.
No, presales are residential property, and the foreign-buyer ban runs until Jan 1 2027 (few exemptions apply)
You don’t need final approval today. Lenders issue formal approvals and 90-120-day rate locks closer to completion.
I review the builder’s track record, financing, location fundamentals, and projected cash flow/appreciation — only solid projects make this page.
Looking to Invest or Buy Presale?
Whether you're eyeing a presale condo or building a real estate portfolio, I’ll help you find high-potential opportunities and make smart, strategic decisions.