British Columbia Purchase Agreement

A complete Contract of Purchase and Sale for residential real property in British Columbia following the standard form published by the British Columbia Real Estate Association (BCREA) and commonly used by licensees. This document sets out the agreement between buyer and seller including property description, purchase price, deposit, subject-to conditions with removal deadlines, completion and possession dates, adjustments, representations, and required disclosures. Property Transfer Tax (PTT) and foreign buyer restrictions apply in designated areas., -

This Contract of Purchase and Sale (the "Agreement") is made as of [[Agreement Date]] ("Effective Date") between:

Seller: [[Seller Full Legal Name(s)]] ("Seller")
Address for notices: [[Seller Notice Address]]
Phone: [[Seller Phone]] | Email: [[Seller Email]]

Buyer: [[Buyer Full Legal Name(s)]] ("Buyer")
Address for notices: [[Buyer Notice Address]]
Phone: [[Buyer Phone]] | Email: [[Buyer Email]]

Seller agrees to sell and Buyer agrees to purchase the Property described below on the terms set out in this Agreement., -

ARTICLE 1, PROPERTY

1. Property Description

The Property is the residential real property located at:

[[Street Address, Unit Number if strata]]
[[City or Town]], British Columbia [[Postal Code]]

Legal description (from title search): [[Full Legal Description, e.g. Lot X, Block Y, Plan ZZZ, District Lot ABC, Land District]]

PID / Parcel Identifier: [[PID Number]]

Tax roll / folio number: [[Tax Folio Number]]

The Property includes all buildings, improvements, fixtures and appurtenances.

Included chattels and personal property: [[List e.g. refrigerator, stove, dishwasher, washer, dryer, window coverings, light fixtures, or "as per attached Schedule A"]].

Excluded items: [[List exclusions or "None"]].

2. Title and Permitted Encumbrances

Seller will convey good and marketable title free and clear of all encumbrances except:

1. Permitted easements and restrictive covenants that do not materially affect use or value.

2. Any mortgage or charge to be discharged from sale proceeds on or before Completion.

3. Any other matters disclosed in the Property Disclosure Statement or accepted by Buyer in writing., -

ARTICLE 2, PURCHASE PRICE AND DEPOSIT

3. Purchase Price

Purchase Price: $[[Purchase Price]] (the "Purchase Price").

4. Deposit

Buyer will pay a deposit of $[[Deposit Amount]] (the "Deposit") by [[cash / bank draft / e-transfer / lawyer trust]] to [[Listing Brokerage / Seller's Lawyer / Deposit Holder Name]] within [[e.g. 24 hours / 3 business days]] of removal of all subjects or upon acceptance if no subjects.

The Deposit will be held in trust and applied toward the Purchase Price on Completion. If the transaction does not complete due to Buyer's default, the Deposit may be forfeited to Seller as liquidated damages (subject to any dispute resolution).

5. Payment of Balance

On the Completion Date, Buyer will pay the balance of the Purchase Price by solicitor's or notary's trust cheque or electronic funds transfer to Seller's lawyer or notary., -

ARTICLE 3, CONDITIONS AND SUBJECTS

All conditions below are for the sole benefit of the party indicated and may be waived or declared satisfied by written notice on or before the removal date.

6. Financing Condition (if applicable)

This Agreement is subject to Buyer obtaining financing on terms satisfactory to Buyer in Buyer's sole discretion by no later than [[Financing Removal Date, e.g. 5:00 p.m. on DD Month YYYY]].

Buyer will use reasonable efforts to obtain such financing. If not satisfied or waived by the deadline, this Agreement terminates and the Deposit is returned to Buyer.

7. Property Inspection / Due Diligence Condition

This Agreement is subject to Buyer, at Buyer's expense, obtaining a satisfactory inspection report from a licensed home inspector or other professional of Buyer's choice by no later than [[Inspection Removal Date]].

Buyer may have additional professionals (engineer, pest, etc.) inspect during this period. Seller will provide reasonable access upon 24 hours' notice.

If Buyer is not satisfied, Buyer may terminate by written notice on or before the deadline and the Deposit is returned.

8. Appraisal Condition (if financing or otherwise required)

This Agreement is subject to the Property appraising at or above the Purchase Price by an appraiser acceptable to Buyer's lender by [[Appraisal Removal Date]].

9. Sale of Buyer's Property Condition (if applicable)

This Agreement is subject to Buyer entering into an unconditional agreement to sell Buyer's current property located at [[Buyer's Current Address]] on or before [[Buyer's Sale Removal Date]]. Buyer will provide Seller with a copy of the accepted contract upon request.

10. Strata / Title Documents Condition (for strata or leasehold properties)

If the Property is a strata lot, this Agreement is subject to Buyer reviewing and being satisfied with the following documents by [[Strata Document Review Date]]:

1. Form B Information Certificate (current).

2. Form F Certificate of Payment (showing no arrears).

3. Most recent depreciation report and any engineering or reserve fund studies.

4. Minutes of strata council and annual general meetings for the past two years.

5. Current strata bylaws, rules, and financial statements.

6. Any special levies or major repairs disclosed or pending.

Seller will deliver copies of the above within [[e.g. 3 business days]] of request.

11. Other Conditions

Additional subject(s): [[Describe any other conditions or "None"]] to be satisfied or waived by [[Removal Deadline]]., -

ARTICLE 4, DATES AND POSSESSION

12. Completion Date

Completion Date: [[Completion Date]] (the date on which title transfers and funds are exchanged). On Completion, Seller will deliver vacant possession of the Property (subject to any tenancy disclosed and accepted) and all keys, access devices, codes, and remote controls.

13. Possession Date

Possession Date: [[Possession Date]] (the date Buyer is entitled to take physical possession). Possession is separate from Completion. Buyer may take possession only after funds have cleared and title has been transferred or as otherwise agreed in writing.

14. Adjustment Date

Adjustments for property taxes, strata fees, rents, utilities, and other items will be made as of the Completion Date or as agreed. Seller is responsible for all expenses up to but not including the Completion Date; Buyer thereafter., -

ARTICLE 5, PROPERTY TRANSFER TAX AND FOREIGN BUYER TAX

15. Property Transfer Tax (PTT)

Buyer is responsible for all Property Transfer Tax payable under the *Property Transfer Tax Act*. Current rates (residential):

1. 1% on the first $200,000 of the Purchase Price.

2. 2% on the portion from $200,000 to $2,000,000.

3. 3% on the portion above $2,000,000.

Additional rates may apply for residential properties in specified areas or for higher-value transactions. Buyer will pay PTT directly to the Land Title Office or through their lawyer/notary on Completion.

16. Foreign Buyer Restrictions and Tax

If the Buyer is a foreign buyer or a corporation controlled by foreign buyers purchasing in a designated area, additional restrictions and the Foreign Buyer Tax (additional PTT) may apply under the *Property Transfer Tax Act* and related regulations.

1. Buyer represents that [[Buyer is / is not]] a foreign entity as defined.

2. If applicable, Buyer will pay any additional tax and provide required declarations.

3. Certain exemptions exist (e.g., for Canadian citizens, permanent residents in some cases, or specific family transfers). Buyer is solely responsible for determining eligibility and compliance., -

ARTICLE 6, SELLER DISCLOSURES AND REPRESENTATIONS

17. Property Disclosure Statement

Seller has delivered (or will deliver within [[e.g. 3 business days]] of acceptance) a completed Property Disclosure Statement (PDS) for residential properties. The PDS discloses known material latent defects and other matters. The PDS is not a warranty. Buyer acknowledges they are purchasing based on their own inspections and the PDS.

18. Seller Representations

Seller represents and warrants that, to the best of Seller's knowledge:

1. Seller has the authority to sell the Property and is not aware of any title defects other than those disclosed.

2. There are no pending or threatened legal proceedings affecting the Property except as disclosed.

3. All fixtures and included chattels are in working order and will remain with the Property.

4. Seller has not received notice of any proposed rezoning, road widening, or major municipal works that would materially affect the Property, except as disclosed in writing., -

ARTICLE 7, DEFAULT AND REMEDIES

19. Buyer's Default

If Buyer fails to complete on the Completion Date for reasons other than Seller's default or failure of a condition, Seller may:

1. Terminate this Agreement and retain the Deposit as liquidated damages (not a penalty).

2. Pursue other remedies available at law or equity, including specific performance or damages.

20. Seller's Default

If Seller fails to complete or is unable to convey clear title, Buyer may:

1. Terminate and receive return of the Deposit plus any reasonable out-of-pocket costs.

2. Seek specific performance or damages., -

ARTICLE 8, ADDITIONAL TERMS

21. Included / Excluded Items Schedule

See attached Schedule A (if any) for detailed list of included and excluded chattels and fixtures.

22. Additional Terms

[[Insert any additional lawful terms agreed by the parties or "None. This Agreement constitutes the entire agreement between the parties."]], -

ARTICLE 9, GENERAL

23. Time of Essence

Time is of the essence of this Agreement. All dates and times are strict.

24. Notices

All notices under this Agreement must be in writing and delivered by hand, email (if previously agreed), registered mail, or courier to the addresses above or to the lawyers/notaries acting for the parties.

25. Governing Law

This Agreement is governed by the laws of British Columbia. The parties attorn to the exclusive jurisdiction of the courts of British Columbia.

26. Severability

If any provision is held invalid or unenforceable, the remainder of the Agreement remains in full force.

27. Entire Agreement

This Agreement, including all schedules and any accepted addenda, constitutes the entire agreement and supersedes all prior negotiations and representations. Amendments must be in writing and signed by both parties., -

SIGNATURES

SELLER

Signature: ______________________________ Date: ___________

Print Name: [[Seller Full Legal Name]]

Signature: ______________________________ Date: ___________

Print Name: [[Seller 2 Full Legal Name if joint]]

BUYER

Signature: ______________________________ Date: ___________

Print Name: [[Buyer Full Legal Name]]

Signature: ______________________________ Date: ___________

Print Name: [[Buyer 2 Full Legal Name if joint]], -

LAWYER / NOTARY INFORMATION (if applicable)

Seller's Lawyer/Notary: [[Firm and Name]]
Contact: [[Phone / Email]]

Buyer's Lawyer/Notary: [[Firm and Name]]
Contact: [[Phone / Email]], -

BC STATUTORY AND PRACTICE NOTES

*Template, not legal advice. British Columbia real estate transactions are governed by the Real Estate Services Act, Strata Property Act, Property Transfer Tax Act, and BCREA standard forms. Tax rates, foreign buyer rules, and forms are current as of June 2026 and are subject to change. Always obtain current title search, use licensed professionals, and verify all figures and requirements with a British Columbia realtor, lawyer, or notary before signing. This document is a sample and does not replace professional advice or the official BCREA form.*