Home Sweet Chloe

Lead feature / The presale playbook

Buying before the building.

A field guide for Lower Mainland buyers.

A presale purchase is a contract to buy a home that doesn't exist yet. The developer builds the tower; you commit to the unit now, pay deposits over time, and complete when keys are ready — often two to four years out. Handled well, it's one of the smartest ways to enter the market. Handled poorly, it locks you into terms you didn't fully understand.

Tower under construction, dusk.
An architectural maquette, in scale.
Scaffolding geometry, golden hour.
An interior in waiting — pre-keys.

The 8-point review

No. 01

Deposit timing

When is each installment due, and what happens if a payment misses by a day?

No. 02

Completion and extensions

What is the developer's right to extend? Have they used it before?

No. 03

Assignment clause

Can you sell before completion? At what fee? With what consent?

No. 04

Disclosure amendments

Material facts change. The developer can amend; you have a window to respond.
Reading a presale is a series of small details.

No. 05

Tax exposure

GST, Property Transfer Tax, foreign buyer tax — none of which appear on the price tag.

No. 06

Mortgage timing

Rates change between contract and completion. Pre-approval is a date stamp, not a guarantee.

No. 07

Strata details

Bylaws, rental restrictions, parking and storage allocation. Often buried in addenda.

No. 08

Developer track record

Past completions, dispute history, and what residents say after the keys arrive.

On method

I don't charge for the review itself; the brokerage compensation comes from the developer if you go ahead. What that means in practice: the review is honest because it has to be — if I tell you a presale is fine when it isn't, I lose your future business and the next three referrals.

Looking at a specific presale? Let's review it together.

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