your Presale
Peace of MiND

You can learn more through several options:

•  Explore our website, which offers detailed project information

•  Explore our presentation room at Royal LePage Sussex, located at 5665 Teredo St #101, Sechelt, BC V0N 3A0

•  At the showroom, you’ll find sample finishings, appliance specifications, mechanical details, and more to help visualize your future home

Yes. There are two colour schemes to choose from, plus various upgrades are available. All options are detailed at the Westward showroom.

Construction is expected to begin between September 1, 2025, and November 30, 2025.

Phase One is anticipated to be completed between November 1, 2026, and January 31, 2027.

Yes. The deposit structure is as follows:

1.   $1,000 upon presentation of an offer.

2.   5% of the purchase price (minus the $1,000 already paid) is due 7 days after contract acceptance.

3.   An additional 10% is due within 7 days of the developer getting their building permit, or 180 days after the second deposit, whichever is later of the two.

4.   All deposits are held in trust, meaning the developer cannot access the funds until the project is completed or they are returned if the contract is canceled. Please note this is a broad overview; always review all terms carefully with your lawyer.

As a buyer, you don’t pay any commission—your Realtor is compensated by the developer through the listing brokerage. However, you should budget for these additional costs:

•  Legal fees: Expect $2,000–$3,500 for contract review and conveyancing at completion, depending on complexity.

•  Property Transfer Tax (PTT): Payable upon completion and calculated as:

           1% on the first $200,000
           2% on the portion from $200,001 to $2,000,000
           3% on amounts over $2,000,000

As this is a new build, buyers using the home as their primary residence may be exempt from Property Transfer Tax. Please speak to your accountant or lawyer about whether this applies to you.

•  GST: As per federal tax law:

           Calculated at 5% of the purchase price
           GST is due at the time of completion
           GST is payable in addition to the purchase price
           First time home buyers may be exempt from GST on purchases below $1m, and partially exempt below $1.5m

Always consult your accountant to confirm your total tax obligation based on the purchase price.

This is a legal document developers in British Columbia must provide to buyers of presale condos or new developments. Under the Real Estate Development Marketing Act (REDMA), it helps you make an informed decision before committing to purchase.

It outlines key information about the development, including:

•  Developer details
•  Project description (units, amenities, etc.)
•  Estimated construction timelines and completion dates
•  Proposed strata fees and bylaws
•  Warranties and insurance coverage
•  Potential risks or changes that could impact the project

It ensures you fully understand what you’re buying and protects you by disclosing all material facts before you sign a contract.

Yes. However, Disclosure Statements can change over time. While you can get a general overview beforehand, the final version you receive upon an accepted offer—reviewed with your lawyer—is the definitive document.

Yes. Upon officially receiving the REDMA Disclosure Statement after your offer is accepted, you have a 7-day rescission period. During this time, you can cancel your purchase agreement without penalty or explanation.

•  Yes, selling a presale contract before completion is known as an assignment.

•  If the Assignee is a family member (spouse, parent, sibling, child, grandparent, or grandchild), a fee of $2,000 plus applicable taxes covers the developer’s legal costs.

•  If the Assignee is a third party added as an additional purchaser, the Administration Charge is $500 plus applicable taxes.

•  If the Assignee is not a family member, a $2,000 administration fee plus applicable taxes applies, plus an additional fee equal to the greater of:

         3.0% of the Purchase Price (plus taxes), or
         The assignment price paid by the Assignee (plus taxes)

Please always consult your lawyer for specific details and advice.

•  Some lenders offer pre-approval programs for future financing at the time of purchase.

•  Mortgage interest typically starts accruing only upon completion.

•  Financing the deposit is generally not possible; you will need to provide these funds upfront.

•  It’s wise to have a solid financial plan and understand how market fluctuations could affect your financing.

•  Westward is working with a lender who has pre-assessed these units, and may be able to offer highly competitive rates as well as longer pre-construction approval. Please speak to a team at O’Reilly Real Estate Group for more information.

Presale condos usually require only a down payment upfront, with no mortgage, maintenance fees, or property taxes during construction (in most cases). This allows investors to potentially benefit from market appreciation over the 1-3 year build period—without ongoing carrying costs.

Yes. New condo developments in B.C. come with 2-5-10 year warranty protection covering defects in materials, labour, and major structural components. This offers peace of mind and minimizes unexpected repair costs—unlike older buildings, which may require immediate upkeep or renovations.

New, modern units tend to attract quality tenants and often command higher rental rates. Their fresh design and upgraded amenities help reduce vacancy and turnover.

Having your own representation is always the best idea. O’Reilly Real Estate Group can most certainly answer your factual questions – and can recommend many amazing local Realtors to represent your interests and give you great advice, local knowledge and key insights.

Please reach out to;

Scarlet Osborne – 604 329 7877 or scarlet@oreillyrealestate.ca

Joel O’Reilly – 604 741 1837 or joel@oreillyrealestate.ca

Or come and visit us at our showroom at 5665 Teredo St #101, Sechelt, BC V0N 3A0, by appointment.