Vancouver & BC Presales Search Page

Welcome to BC Presales Search Page. On this page you will find a comprehensive list of Vancouver and BC new condos for sale! Search our new constriction homes to find new condos for sale Vancouver and across British Columbia.

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Presales

Presales

Presales is what you find on this page. VancouverNewCondos.com is your number one source for presales in Vancouver and across British Columbia.

By signing up for Vancouver New Condos VIP email list, you can purchase new construction homes before anyone else and get information on new Vancouver and BC new development condos before anyone else. We can also get you access to detailed pricing & floor plans before anyone else.

What is a Presale?

The article titled “What are presale condos?” provides a detailed explanation of presale condos in British Columbia (BC).

A presale condo, also known as a pre-construction condo or an off-plan property, is a type of real estate transaction where a unit in a new home project is purchased before it has been built or completed. This method is common in many markets globally, including BC. Developers pre-sell condos to prove to their lenders that the project is market viable.

The article also outlines the buyer protection rules in BC, such as the 7-Day Rescission Period, protection of presale condo deposits, and the requirement for developers to provide a disclosure statement.

The article further explains the process of purchasing an pre-construction property, including writing an offer, paying deposits, and what happens once an offer is accepted. It also discusses the benefits and risks of buying a presale condo. The article concludes by advising potential buyers to consult with a lawyer when buying a presale condo in BC.

Undecided on Presales? Check out the Pros & Cons on Buying a Presale Condo

Buying a new construction condo or townhouse in British Columbia is a major commitment and should not be entered into lightly. Before making a decision, check out our page on The Pros And Cons Of Buying Presale Condos In BC.

Vancouver New Condos Focuses on Buying Presales Safely

Buying a presale in Vancouver and across British Columbia can be a nerve wracking process. All the Realtors with Vancouver New Condos are experienced new home specialists who are focused helping clients with safe new home purchases. Please see some of the articles below discussing the safe purchase of presales in BC.

Presales are Regulated in British Columbia to Ensure Buyer Safety

The purchase of new construction residential properties in BC are regulated by the British Columbia Financial Services Authority BCFSA. The legislation that BCFSA uses to regulate presales in BC is call the Real Estate Development Marketing Act REDMA. One of the most important aspects of these protections is the 7 day rescission period for presale condo purchases.

7-Day Rescission Period for Presale Condos in British Columbia

The 7-Day Rescission Period allows purchasers of presales in BC can kill their accepted offer for up to 7 days after it is accepted. This period is a provision under section 21 of the Real Estate Development Marketing Act (REDMA), allowing buyers to cancel their purchase agreement without penalties within seven days of signing the contract.

The purpose of this provision is to protect buyers from making rushed decisions, giving them time to review the contract, seek legal and accounting advice, and ensure they are comfortable with their purchase.

The rescission period begins either when the offer is accepted and signed by both parties or when the buyer receives a copy of the disclosure statement. If the buyer does not take action to rescind the contract during this period, the deal automatically proceeds.

The article emphasizes the importance of this period in protecting new home buyers and enabling informed decision-making for purchasers.