Presale condos can be a smart investment — but only when you understand the process, the risks, and the opportunities. Viet is one of the Fraser Valley's most experienced presale specialists. He'll help you find the right project and protect your interests every step of the way.
A presale (also called a pre-construction purchase) is when you buy a condo, townhome, or house before it's built — usually 1 to 4 years before completion. You sign a contract and make a deposit today, with the balance due when the building is complete and ready to move in.
Developers sell presales early to secure financing and generate demand. Buyers who get in early often benefit from lower prices and strong appreciation by the time they complete — but there are risks too. That's why having an experienced presale agent like Viet in your corner makes all the difference.
Viet has access to VIP and priority pricing at many Fraser Valley and Metro Vancouver developments — often before public sales open, which means better unit selection and lower prices for his clients.
Presale purchases follow a different timeline than resale. Here's what to expect from the first conversation to the day you pick up your keys — which could be 2 to 4 years away.
Viet is registered with many developers across the Fraser Valley, Langley, Surrey, Coquitlam, and the broader Metro Vancouver area. This means his clients often get access to new projects before the general public opens — at better prices, with more choice. Tell Viet your budget and goals, and he'll match you with projects worth looking at.
Why VIP matters: VIP purchasers typically get a 2–5% pricing advantage and access to the best units (corner suites, higher floors, preferred views) before they're gone.
Not all developers are created equal. Viet reviews the developer's track record, past projects, reputation for quality and timelines, and the project's amenity package, strata fees, and unit mix. He'll also look at the Disclosure Statement — a lengthy legal document that outlines your rights and the developer's obligations — and flag any concerns before you sign anything.
Important: In BC, you have a 7-day rescission period after signing. This gives you time to have a lawyer review the Disclosure Statement. Always use it.
Once you've picked your unit, Viet reviews the Purchase Agreement with you before you sign. He explains every clause in plain English — deposit structure, completion date, what's included, what can change, and when you can walk away. The initial deposit (typically 5–10%) is due within a few days and held in trust by the developer's lawyer.
Deposit structure example: 5% on signing, 5% at 6 months, 5% at 12 months, balance on completion. Deposits are held in trust and protected by the Strata Property Act.
This is the waiting period — anywhere from 12 months to 4+ years depending on the project and its stage of development. Viet monitors the project's progress, keeps you updated on any amendments to the Disclosure Statement (which must be disclosed to you), and answers any questions along the way. Your deposits continue according to the schedule.
Stay in touch with your mortgage broker: Your financial situation at completion is what matters for financing. Major life changes (job switch, new debt) during this period can affect your approval.
When the building is registered and your unit is ready, you'll receive a completion notice (typically 2–4 weeks' notice). Before completion, you do a Pre-Delivery Inspection (PDI) with the developer's team to document any deficiencies. Your lawyer registers your unit and mortgage. GST applies to new builds — budget for this. Then the keys are yours.
GST rebate: If you're buying as a primary residence and the unit qualifies, a partial GST rebate (up to $6,300) may be available. Ask Viet for details.
An assignment sale is when the original presale buyer sells their contract to a new buyer before the building completes. The original buyer (assignor) transfers their rights and obligations — and any profit — to the new buyer (assignee).
Viet specializes in both sides of assignment sales: helping buyers find assignment opportunities with built-in equity, and helping sellers maximize their profit from an assignment. Assignments are complex transactions with significant tax implications — Viet navigates all of it.
Since 2022, all assignments must be reported to CRA and profits are generally taxed as business income or capital gains, depending on your situation. Transparency with your accountant is essential.
Not all presale contracts allow assignments. Viet reviews your Purchase Agreement to confirm and understand any developer conditions or fees (typically 1–2% of original price).
Viet researches comparable completed and presale units to determine realistic assignment pricing. He markets the assignment through FVREB, targeted ads, and his network of investors.
The developer must approve the new buyer. Viet manages this process, negotiates assignment terms, and makes sure all paperwork is properly executed.
Assignment profits are taxable. Viet recommends working with a tax professional familiar with BC real estate to ensure proper reporting and maximum after-tax outcome.
Many presale contracts have rental restrictions — some require owner occupancy for a period after completion. Viet reviews rental clauses before you sign. If renting is your plan, he steers you toward investor-friendly projects.
Developers can cancel if they can't secure financing or permits. In BC, your deposits are held in trust and returned in full. Viet researches developer financial strength and project status before recommending anything.
Yes — 5% GST applies to all new construction in Canada. If you're buying as a primary residence, a partial rebate may be available (up to $6,300). If buying as an investment/rental, you may be able to claim GST back as an ITC — consult your accountant.
In BC, you have 7 calendar days to rescind (cancel) a presale agreement after receiving the Disclosure Statement. You get all deposits back, no penalty. Always have a lawyer review before this window closes.
No — your pre-approval from today does not guarantee financing at completion. Lenders reassess your income, debt, and the property's value at closing. Keep your finances stable during the construction period.
Viet is registered with developers as a realtor partner, giving his clients early access at developer-set pricing — before the general public sale opens. This often means better unit selection, preferred floors, and 2–5% lower entry prices.
Since January 1, 2025, selling a property (including completing on a presale) within 2 years of purchase may trigger a flipping tax of up to 20% of profits. This affects assignment sales and quick resales at completion. Ask Viet about your specific timeline.
Yes. In BC, presale deposits for strata units are held in a lawyer's trust account and protected. For non-strata presales, other protections may apply. Viet confirms deposit protection on every project before recommending it.
Viet has VIP access to new projects across the Fraser Valley right now. Let him match you with the right opportunity — at the right price, before it's gone.