The BC Contract of Purchase and Sale: Every Clause That Matters

Written by Rob Visnjak, Personal Real Estate Corporation | Oakwyn Realty Ltd. | Published October 31, 2026

When you buy a resale home in BC, your offer is almost always written on the standard Contract of Purchase and Sale, the form prepared by the British Columbia Real Estate Association and used across the province. It runs several pages, and most buyers sign it after a quick read on a busy evening. Yet every clause decides something real: when your deposit is due, what's included with the house, who pays if the roof is damaged before you move in, and what happens if a deadline is missed. This guide goes through the clauses that matter, in plain language, with what to watch for in each and examples from Langley and Surrey.

The contract at a glance

Source: Rob Visnjak summary of the standard BC Contract of Purchase and Sale (form BC2057, revised December 2025), the BCREA Legally Speaking series and the BC Financial Services Authority. Accessed October 31, 2026. Clause numbers change between revisions, so this guide uses clause names.

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The first page: parties, property, price and deposit

Parties

The buyer and seller are named with their full legal names. If you're buying with a spouse, partner or family member, both names go on the contract as buyers. Get this right at the start, because changing it later may need the seller's agreement, and adding or removing a buyer can affect property transfer tax exemptions and your mortgage.

The property

The property is identified by its civic address, its parcel identifier (PID) and its legal description. In a strata, the strata lot number matters, and so do any parking stalls or storage lockers assigned with it. In Langley and Surrey, I also check whether the address and legal description match on rural or subdivided lots, where it's easy to get a lot number wrong.

Purchase price

The price is written in figures. On a resale home, GST doesn't usually apply. On a new home or a substantially renovated one, it may, so the contract should say whether the price includes or excludes GST. On a $950,000 new townhouse in Willoughby, that difference is $47,500.

Deposit

Under the standard form, the deposit is due within 24 hours of acceptance, unless the contract says otherwise. It's paid to the listing brokerage, which holds it in trust, and it's credited to you on completion. If the deposit isn't paid on time, the seller may be able to end the contract. In Langley and Surrey, deposits are often around 5% of the price, but there's no legal minimum, and the amount is negotiable. A larger deposit can strengthen an offer in a competitive situation.

Terms and conditions: where your subjects go

This is the part of the contract you and your agent write. It holds your subject clauses, which make the deal conditional on financing, an inspection, the strata documents and so on, and any extra terms, such as "the seller will remove the hot tub before completion".

Subjects and terms are different

A subject must be satisfied or waived by a set date, or the contract ends. A term is a promise that stays part of the contract and must be carried out. Mixing the two causes problems, so the wording should be clear about which is which and, for each subject, whose benefit it's for and the deadline. My guide to subject clauses and subject removal covers them in detail.

Common extra terms

• The property disclosure statement forming part of the contract, if the seller has provided one.
• Repairs or removals the seller agrees to make before completion.
• A pre-completion walk-through, so you can confirm the condition before money changes hands.
• Tenancy notice, if you want vacant possession of a home that has tenants.
• Specific chattels, such as a garage fridge or a shed, that aren't in the standard included items.

Completion, possession and adjustment dates

Completion

The completion date is the day your lawyer or notary registers the transfer at the Land Title Office and the seller receives the money. You'll usually sign your documents with your lawyer a few days before. Pick a date that gives your lender time; for most resale purchases, at least three to four weeks after subject removal is comfortable. Avoid a Friday or the last business day of a month if you can, since those days are busy at the Land Title Office.

Possession

Possession is when you get the keys. In BC, it's usually a day or more after completion, at a set time, often 1 p.m. The standard contract gives you vacant possession, except for any tenancies listed in the contract. If a tenant is living in the home and you want it vacant, the contract needs a clause requiring the seller to give the tenant proper notice under the Residential Tenancy Act, and the dates must allow for the notice period.

Adjustments

The adjustment date is the day property taxes, strata fees and some utilities are split between buyer and seller. It's usually the same as the completion date. From that day, the costs are yours. My guide to closing costs when buying in BC explains how adjustments work.

A Surrey example

A buyer in Cloverdale wants to move at the end of the month. The contract sets completion on Wednesday the 27th, possession on Thursday the 28th at 1 p.m., and adjustments on the 27th. The seller has a full day to move out after receiving the money, and the buyer has a weekend before the new month to settle in. If completion were scheduled for the 31st and fell on a Friday, any delay in funds could push possession into the next week.

Included items and the viewed clause

What's included

The standard contract includes a list of items that stay with the property, such as fixtures and attached window coverings. Appliances and other chattels should be named in the contract. If you want the washer and dryer, the fridge in the garage or the wall-mounted TV, list them. If the seller wants to take a light fixture or a heritage mirror, they should list it as excluded.

The viewed clause

The contract states that the property and included items will be in substantially the same condition at possession as when you viewed them on a specific date. Write the date of your last viewing. If you notice damage after possession, this is the clause that helps.

What "substantially the same" means

It doesn't mean perfect. Normal wear from the seller living in the home until they move out is expected. A broken window, a missing appliance or new water damage is a different matter. A pre-completion walk-through, if you've added one, is your chance to catch problems while the money is still in trust.

Title, documents and tender

Title

The standard contract gives you title free and clear of all charges except those in the original Crown grant and restrictive covenants and rights of way in favour of utilities and public authorities. That's narrower than most people think. Private easements, building schemes and restrictive covenants that benefit neighbours aren't covered by that exception. If they're on title and the contract doesn't mention them, the seller may be required to remove them, which may not be possible. Your agent should review title before you write the offer and include any charges that will stay.

Clearing title and buyer financing

Most sellers have a mortgage on the home. The contract lets the seller use the purchase money to pay it off on completion, and lets you use your mortgage funds to pay the price. Your lawyers handle the exchange of undertakings so the seller's mortgage is discharged and yours is registered.

Documents and tender

The contract requires the parties to deliver the documents needed to complete. It also sets out how payment can be tendered, usually by lawyer's trust cheque or electronic funds. These are mostly lawyer business, but they show why choosing a lawyer or notary early matters. My guide to finding a notary or lawyer in Langley can help.

Time, risk and costs

Time is of the essence

The contract says time is of the essence. In practice, that means every deadline is strict: the deposit, subject removal, completion. A buyer who misses a deadline can lose the deal, and possibly the deposit. If you need more time, ask the other side for a written amendment before the deadline passes.

Risk

The home stays at the seller's risk until 12:01 a.m. on the completion date. After that, it's at your risk, even though you may not have possession for another day or more. Arrange home insurance starting at 12:01 a.m. on completion day. Your lender will want proof of it before advancing funds.

Costs

The buyer pays the costs of the transfer, including property transfer tax and the costs of the buyer's mortgage. The seller pays the costs of clearing title, including discharging their mortgage. Each side pays its own legal fees.

The rest of the form: rescission, assignment, residency and acceptance

Home Buyer Rescission Period

Most residential purchases in BC carry a three-business-day rescission period after acceptance. You can cancel by delivering written notice within that time and paying the seller 0.25% of the price. On an $802,600 Langley townhouse, that's $2,006.50. The right can't be waived, and the form includes a notice about it. Some properties are exempt, including those sold by court order.

Restriction on assignment

The standard contract restricts the buyer from assigning the contract to someone else without the seller's written consent. Assignments of resale contracts are uncommon, and they carry reporting and tax consequences.

Seller's residency

The contract asks whether the seller is a non-resident of Canada for income tax purposes. If they are, your lawyer may need to hold back part of the price until the seller provides tax clearance. It's a technical point, but it protects you from being liable for the seller's tax.

Representations and warranties

The contract states that there are no representations, warranties or agreements other than those written in it. If the seller tells you the roof is five years old and that matters to you, put it in the contract or confirm it through inspection. Verbal assurances aren't enough.

Acceptance irrevocable

Once accepted, the contract can't simply be withdrawn by either side. During the subject period, the seller can't cancel the deal to accept a better offer, unless the contract includes a time clause, such as on a subject-to-sale offer.

Strata properties: extra points in the contract

Condos and townhouses make up a large share of sales in Langley and Surrey, and they bring a few extra details to the contract.

Parking, storage and common property

Parking stalls and storage lockers can be part of the strata lot, limited common property, or assigned by the strata council. The contract should describe exactly which stall and locker come with the unit. If a stall is only assigned by the council, it may not be guaranteed, so ask.

Special levies

The contract should deal with any special levy that has been approved or proposed, and say who pays it. Under the Strata Property Act, a levy is generally owed by whoever owns the unit when it's due, unless the buyer and seller agree otherwise. If the minutes show a levy coming, address it in your offer.

Bylaws and rentals

If you plan to rent the unit or keep a pet, check the bylaws during your strata documents subject. BC ended most strata rental bans in 2022, but age restrictions and pet bylaws can still apply.

A Langley example

A buyer writing an offer on a Willoughby townhouse sees in the minutes that the strata is considering a roof replacement next year. The offer includes a term that the seller will pay any special levy approved before completion, and a strata documents subject so the buyer can read the depreciation report before going firm.

Clause-by-clause checklist before you sign

Source: Rob Visnjak.

Common contract mistakes

• Leaving an item off the included list and finding it gone on possession day.
• Possession on the completion date without changing the wording, which can create problems if funds arrive late.
• Assuming tenants will leave when the contract doesn't require notice.
• Not reviewing title before writing, then finding a private easement after acceptance.
• Vague subjects without a clear deadline or beneficiary.
• Insurance starting on possession day instead of completion day.

FAQ

Is the BC Contract of Purchase and Sale standard? Yes. Most resale residential transactions in BC use the standard form prepared by the BC Real Estate Association. Presales use the developer's own contract.

When is the deposit due? Under the standard form, within 24 hours of acceptance, unless the contract sets a different time.

Can I change the standard clauses? You can add terms and modify clauses by agreement. Changing standard wording should be done carefully, ideally with legal advice.

When does the house become my responsibility? At 12:01 a.m. on the completion date, under the risk clause. Insure it from then.

What's the difference between completion and possession? Completion is when title and money change hands. Possession is when you get the keys, usually a day or more later.

Can I cancel after the contract is accepted? You can rescind within three business days for 0.25% of the price, or let a subject lapse in good faith. Otherwise, backing out can cost you the deposit and more.

Conclusion

The BC Contract of Purchase and Sale is a standard form, but it isn't one-size-fits-all. The deposit, the subjects, the three dates, the included items, the viewed date, title and risk are where most problems start, and where a few minutes of care prevents them. Read the whole form before you sign, ask about anything that isn't clear, and have your lawyer or notary review anything unusual. When you're ready to put a contract together, my guide to writing an offer in BC explains how the price, subjects, deposit and dates fit together, and my earlier post on the Contract of Purchase and Sale covers the basics.

What happens next: When you book a chat, I'll walk you through a blank Contract of Purchase and Sale line by line, so you know exactly what you're signing before your first offer. There's no cost and no obligation. Book a no-pressure chat with Rob.

This article is general information about the standard BC Contract of Purchase and Sale as of October 2026. It isn't legal advice. Forms are revised from time to time, and your contract may include different terms. Have your lawyer or notary review your contract before you sign. Rob Visnjak Personal Real Estate Corporation, Oakwyn Realty Ltd.