What Are Addendums in a Presale Contract, and What They Actually Do
Addendums carry the same weight as the contract itself. What they cover, why they matter, and what BC presale buyers should watch for.
When buyers think about a presale contract, they picture the main agreement. But the terms that most often affect you are tucked into the addendums attached to it. They are easy to skim and easy to underestimate. Here is what addendums are, and why they deserve as much attention as the contract itself.
What an addendum is
An addendum is an attachment that modifies or adds to the main Contract of Purchase and Sale. Developers use addendums to set out the details that do not fit neatly into the standard contract body. Critically, an addendum carries the same legal weight as the contract. If it is signed and attached, it binds you.
What addendums usually cover
- Finishes and specifications. The materials, appliances, and fixtures the developer commits to, and often a right to substitute equivalents.
- Parking and storage. Whether they are included, assigned, or sold separately.
- Assignment rights. Whether you can sell the contract before completion, the fee, and the conditions.
- Deposit terms. The schedule and how deposits are held.
- The developer’s right to make changes. Powers to adjust the plan, the unit, or the building.
- Completion and delay provisions. How completion works and what happens if the project runs late.
Why they are easy to miss
Addendums arrive as part of a thick stack at signing, often after you have already decided you want the unit. Because they read as technical attachments, buyers tend to sign them quickly. But this is frequently where the substantive terms live, including the ones that decide whether you can assign, what finishes you are actually guaranteed, and how much the developer can change.
How to handle them
Read every addendum during your seven-day rescission window, and treat them as part of the contract, because they are. Match the finishes addendum against what the display suite and brochure promised. Confirm parking and storage in writing. Note the assignment terms if you might ever need to sell early. Anything unclear is a question for your lawyer before the window closes.
This connects to our guides on the Contract of Purchase and Sale and what to look for in a presale contract.
This is part of our Complete Guide to Buying a Presale in BC. If you want help reading the addendums before you commit, 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 advice. Addendum terms vary by developer and project. Confirm the details with a BC real estate lawyer before signing.
