Presale deposit schedule

Presale deposit schedule

Estimate only. Deposit dates count from the day you sign; your contract sets the exact dates. Confirm costs with your lawyer.

How presale deposits work

• Most Metro Vancouver presales ask for 10% to 20% in deposits, usually 5% at a time: at signing, then about 90 and 180 days later, sometimes again at one year.
• You have 7 days after signing (and receiving the disclosure statement) to cancel for any reason. This is the rescission period under BC's Real Estate Development Marketing Act.
• Deposits are held in trust by a lawyer, notary or brokerage, not paid to the developer, and count toward your down payment.
• The rest of the price is due at completion, when the building is finished. That's when your mortgage starts, so you need final mortgage approval close to completion.
• GST (5%) is usually added at completion. First-time buyers of a new home get it back, up to $50,000, on homes up to $1,000,000, phasing out to $1,500,000 (contracts signed after March 19, 2025).
• Newly built homes pay no BC property transfer tax up to $1,100,000, phasing out to $1,150,000.

Sources: CRA: First-time Home Buyers' GST/HST Rebate, Presale deposit structures. Checked October 2026.