10 Questions People Ask About Presale Condos in Vancouver (Answered by a Presale Expert)

By Uzair Muhammad, REALTOR® — Real Broker BC · Published · Updated

Considering a presale condo in Vancouver? Here are the 10 most common questions buyers ask—answered by a presale expert with 300+ transactions.

PresaleProperties.com is the buyer-side representation practice of Uzair Muhammad (REALTOR, Real Broker BC), serving presale and new construction buyers across Metro Vancouver and the Fraser Valley from 3211 152 St, Building C, Suite 402, Surrey BC V3Z 1H8 — (672) 258-1100.

First-time presale buyers in Vancouver have dozens of questions. "Is this a good investment? How much do I need to put down? Can I assign the contract?" As someone who's guided over 300 buyers through presale transactions, I hear these questions constantly. Here are the top 10 presale questions—answered by someone who actually does this every day.

Top 10 Presale Condo Questions Answered

1. What's the difference between presale and resale condos?

Presale: You buy directly from the developer before or during construction. Prices are lower, but you wait 2-4 years for completion.

Resale: You buy from the current owner after completion. You move in immediately but pay a premium.

Expert tip: Presales offer better long-term value if you can wait for completion.

2. How much do I need to put down on a presale?

Typical deposits range from 5-20%, paid in stages during construction:

  • 5% at signing
  • 5% at start of construction
  • 5-10% as construction progresses

Expert tip: Negotiate lower deposits. Savvy realtors can get developers to reduce this significantly.

3. Should I buy presale for investment or personal use?

Presales work for both:

  • Investment: Buy, wait for completion, rent it out for strong cash flow
  • Personal: Buy, move in at completion, enjoy your new home
  • Assignment: Buy at presale price, assign contract before completion for quick profit

Expert tip: The best strategy depends on your timeline and financial goals.

4. Can I assign my presale contract?

Yes—most developers allow contract assignments. This is how investors flip presales for profit without ever owning the property. You sell your contract to another buyer at a higher price before completion.

Expert tip: Assignment rules vary by developer. Your realtor should understand them.

5. What if the developer goes bankrupt?

Rare but possible. Your real estate lawyer should verify:

  • Developer financial health
  • Deposit protection through holdback provisions
  • Insurance requirements

Expert tip: Established developers have better track records. Do your research.

6. How long until completion?

Typical Vancouver presales: 2-4 years from purchase to occupancy. Your realtor should help you understand timelines and how financing works during the construction period.

Expert tip: Ask about construction delays in the contract. Some projects run over schedule.

7. Will my presale appreciate before completion?

Often yes. As construction progresses and market conditions improve, presale values typically rise 10-25% before completion. This is where presale investing profits come from.

Expert tip: Market timing matters. Buy in soft markets for better appreciation potential.

8. What closing costs should I expect?

Budget for:

  • Legal fees ($1,500-$2,500)
  • Home inspection ($300-$500)
  • Property tax adjustment (~$300)
  • Strata fees (varies)
  • Mortgage insurance (if less than 20% down)

Expert tip: Negotiate for the developer to cover some closing costs. It's standard.

9. Should I get a presale agent or a traditional realtor?

Get a presale specialist. They understand:

  • Developer relationships and incentives
  • Contract language and hidden clauses
  • VIP access to early launches
  • Assignment and financing strategies

Expert tip: Traditional realtors often miss presale-specific strategies.

10. What makes a good presale investment?

Look for:

  • Location: Future transit, neighborhood growth, amenities
  • Developer: Established track record, on-time completion
  • Project: Strong demand, sustainable prices, good floor plans
  • Timing: Buy in soft markets before price increases

Expert tip: Work with a specialist who knows all these factors.

Ready to Buy Presale in Vancouver?

These 10 questions cover the basics, but every presale is unique. The best move? Work with a presale specialist who's guided hundreds of buyers through this process.

Contact Uzair Muhammad to discuss your presale strategy and explore Vancouver's hottest presale opportunities.

Founded by Uzair Muhammad, REALTOR® — Real Broker BC