Most developments require a deposit of between $5,000 and 10% of the Purchase Price as the 1st Deposit Installment.   If you decide within 7 days that this was not the right selection for you, the deposit will be refunded to you.      
The total deposit required and how quickly the installments have to be paid will vary widely (from 5%-25%) depending on the development and the incentives being offered at the time of purchase.  
Usually the full deposit is paid within 6 months of the Purchase.  The final balance is paid once the building is completed, an Occupancy Permit has been issued and you are notified that your suite is ready.  

The Disclosure Statement is a document detailing everything the developer intends to do on the project.   

 

​A developer may not enter into a purchase agreement with a purchaser for the sale or lease of a development unit unless a copy of the Disclosure Statement has been provided to the purchaser, the purchaser has been afforded an opportunity to read the Disclosure Statement, and the purchaser has signed a written statement acknowledging that the purchaser had an opportunity to read the Disclosure Statement. ​

For more information:  

https://www.bclaws.ca/civix/document/id/complete/statreg/04041_01#division_d2e1888

Step 4: PURCHASE and COMPLETE THE SALE!

After you have selected a property, you will be given a Disclosure Statement, asked to sign a Purchase Agreement and pay a Deposit.    

The Disclosure Statement is a document detailing everything the developer intends to do on the project.   

​Before a purchase agreement is signed, a developer must provide a copy of the Disclosure Statement and the purchaser must sign a written statement acknowledging that he/she has had an opportunity to read the Disclosure Statement. ​

Questions?  Contact Us!​

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Most developments require a deposit of between $5,000 and 10% of the Purchase Price as the 1st Deposit Installment.   If you decide within 7 days that this was not the right selection for you, the deposit will be refunded to you.      
The total deposit required and how quickly the installments have to be paid will vary widely (from 5%-25%) depending on the development and the incentives being offered at the time of purchase.  
Usually the full deposit is paid within 6 months of the Purchase.  The final balance is paid once the building is completed, an Occupancy Permit has been issued and you are notified that your suite is ready.  
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T: 778-710-8860   

T: 604-601-2028

CREIA REAL ESTATE SERIVCES INC.

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