A Buyer’s Guide to Near-Completion Presales in Metro Vancouver

Most people think of a presale condo as something you buy years before it’s built — you hand over a deposit, wait out a long construction timeline, and hope everything goes according to plan. But there’s another category of presale that doesn’t get nearly enough attention: near-completion inventory. These are units in projects that are already built, or weeks to months away from completion, where the original presale buyers are assigning their contracts or developers still hold unsold suites.

Right now, in mid-2026, this category of inventory is one of the most interesting opportunities in Metro Vancouver’s condo market. With over 26 projects completing across the region this year and new presale launches effectively stalled, there is a real volume of near-completion units available — and motivated sellers on the other side of the table. This guide walks you through how to evaluate these opportunities intelligently.

What Exactly Is Near-Completion Presale Inventory?

Near-completion inventory comes in two forms. The first is developer-held units: suites that were never sold during the original presale campaign, or were released back to the developer, that are now being offered as the building nears or reaches occupancy. The second is assignment sales: the original presale buyer is transferring their contract to a new buyer before the title transfers, typically because they no longer want to complete the purchase.

Both types can offer real value in the current market. Developer-held units in a soft market often come with negotiating room on price, upgrades, or closing costs. Assignments from original buyers who purchased in 2021–22 are sometimes priced at a loss relative to what was originally paid — not because anything is wrong with the unit, but because the seller needs to exit a contract they can no longer sustain.

How to Evaluate Whether the Price Is Actually Good

The most important step is understanding what comparable completed units are selling for in the same building and neighbourhood. Pull recent resale sales data for similar-sized suites nearby: your realtor can provide this. If the near-completion unit is priced at or below the resale comparable, you’re likely getting fair value or better. If it’s still priced significantly above resale, the seller may not yet have adjusted their expectations to match the market.

Also factor in the GST. Presale condos (including assignment) are subject to GST, typically five per cent of the purchase price, which is not applicable on most resale purchases. Make sure you’re comparing apples to apples when you look at total acquisition cost. A $700,000 near-completion unit carries roughly $35,000 in GST on top of the purchase price.

What Due Diligence Looks Like on a Completing Project

With a near-completion building, you have access to information that’s simply not available when you buy into a project years before it’s built. Use it.

Walk the building. Request access to the specific suite if possible, or at minimum to a comparable unit in the building. Check the quality of finishes, the suite layout, and how the common areas feel. Look at the parking and storage situation. Ask whether the building has received its occupancy permit and, if not, what the projected timeline is.

Read the disclosure statement carefully. This is the legal document the developer is required to provide that outlines everything about the project, the developer’s background, the strata bylaws, any restrictions on rentals or pets, estimated strata fees, and any amendments made during construction. Your real estate lawyer should review this with you before you sign anything.

Check strata fee estimates. Developers are required to estimate monthly strata fees in the disclosure statement. These are sometimes set low and can increase once the strata takes over management. Ask whether the building has a professional property manager lined up and what the estimated contingency reserve fund contribution is.

Questions to Ask Before You Make an Offer

There are a handful of questions worth asking directly before you proceed, whether you’re dealing with a developer rep or an assigning buyer’s realtor.

What is the current presale percentage of the building? How many units are sold versus unsold? A building that is 95 per cent sold is a very different situation than one that is 50 per cent sold, where the developer may still be dealing with a large volume of unsold units that could affect the strata’s financial stability early on.

Has the construction financing been fully discharged, or is it still in place? Your lawyer will flag this, but it’s worth asking upfront.

Are there any known deficiencies or construction issues that have been identified during the inspection process? Reputable developers will disclose known issues; if the answer is a flat “no” delivered too quickly, it’s worth probing further.

What are the deposit adjustment terms? In an assignment, the amount of the original deposit being transferred and how it’s handled can vary. Make sure your lawyer reviews the assignment agreement in detail.

The Most Important Thing to Remember

Near-completion presales offer something rare in Vancouver: the ability to see what you’re buying before you fully commit. That’s a significant advantage over a traditional presale where you’re buying based on renderings and floor plans. Use that advantage. Take the time to visit the building, read the documents, and run the numbers independently. The deal that feels urgent is rarely as urgent as it’s presented — and in the current market, with inventory levels elevated and buyer demand soft, you have more time and more leverage than buyers have had in years.

For personalized guidance on which near-completion projects in Metro Vancouver are worth your attention right now, visit vancouverdwelling.ca/market-intel/.