Presale Deposits in BC: Structures, Protection and Schedules
How presale deposits work in BC: typical 15 to 20 percent staged schedules, why your money sits in trust, and the deadlines you cannot miss.
One of the first real questions every presale buyer asks is simple: how much do I need, and when? Presale deposits work differently from a resale down payment. They are larger up front, paid in stages over the construction period, and governed by rules meant to protect your money. Here is how they work in BC.
How much, and on what schedule
Presale deposits are typically 15% to 20% of the purchase price, staged over the construction period rather than paid all at once. A common structure looks like 5% on signing, another 5% a few months later, and further instalments tied to dates or construction milestones. Some developments offer lower deposits, around 10%, while others require extended deposits of 25% or more, particularly for non-residents or luxury product. The exact structure is set in your contract.
Because the deposit is staged, presale can be easier on cash flow than a resale purchase, where the full down payment is due at closing. Even so, every instalment is a commitment you need to plan for.
Where your money is held
Deposits on BC presales are generally required to be held in trust, for example in the developer’s lawyer’s or brokerage’s trust account, rather than spent by the developer during construction. Holding the money in trust is an important protection: if the deal does not complete, your deposit is not tied up in the developer’s operations. Confirm the trust arrangement in your contract, and keep records of every payment.
The schedule is a set of hard deadlines
Each deposit date in your contract is a firm deadline, not a suggestion. Missing one can put you in default and, in the worst case, cost you the deposits you have already paid. Map the full schedule against your cash flow before you sign:
- List every deposit date and amount.
- Confirm where the funds will come from for each one.
- Build in a buffer, because some dates are tied to construction progress that is hard to predict.
Deposits and your rescission window
Your initial deposit is paid around signing, but you still have the seven-day rescission period to cancel for any reason and get it back in full. If you exercise that right, the developer must return the deposit, with interest, within 15 days. After the window closes, your deposit is committed, which is exactly why the seven days matter.
This is part of our Complete Guide to Buying a Presale in BC, and it pairs with our guide to the 7-day rescission period. If you want help mapping a specific deposit schedule against your finances, I work with Greater Vancouver presale buyers in plain language, at no cost to you. Book a consultation.
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This article is general information, not legal or financial advice. Deposit structures and protections depend on your specific contract. Confirm the details with a BC real estate lawyer before signing.
