How to Make an Offer on a Resale Duplex or Multiplex in BC

In BC, you make an offer on a resale duplex, triplex or fourplex home by signing a written Contract of Purchase and Sale, almost always on the standard form from the BC Real Estate Association (BCREA). The offer names a price, a deposit, the conditions you need met (called "subjects" in BC) and the dates for completion and possession. Once the seller signs it, you have a legally binding contract.

This guide takes each step in order. Buying a home before it is finished follows different rules, covered in our guide to how pre-sale works.

Before you write an offer: four things to have ready

An offer is easier to write when you prepare before you find the home.

• A mortgage pre-approval. The BC Financial Services Authority (BCFSA), which regulates real estate licensees in BC, warns in its Are You Ready to Purchase? guide that a pre-approval is not a guaranteed approval. The lender can still say no if your finances change or if it decides the home is worth less than the price.
• Deposit money you can move within a day. The deposit can fall due within 24 hours (details below).
• A lawyer or notary. BCFSA says buyers normally hire one to transfer ownership. Pick them before you sign.
• Knowing how the home is owned. Half of a duplex can be a strata lot, or a non-strata home on its own lot with a shared wall agreement. The paperwork you ask for depends on which. Our guide to strata and non-strata duplexes explains both.

What goes in the BC Contract of Purchase and Sale

The contract records every term you and the seller agree to. BCFSA's page on offers to sellers says your REALTOR® should go through it with you line by line before you sign. The main parts of BCREA's standard residential form are:

• Parties and property. Names, the address, and the parcel identifier (PID) and legal description used at the Land Title Office.
• Purchase price. The amount you offer.
• Deposit. The amount, when it is due, and who holds it in trust.
• Terms and conditions. Your subjects, each with a date by which it must be met or waived, and any other terms you negotiate.
• Completion date. The day ownership passes to you and the seller is paid.
• Possession date and time. When you can move in.
• Adjustment date. The date from which you take over property taxes, utilities and similar costs.
• Included and excluded items. Name anything beyond fixed items that should stay, such as the washer and dryer.
• Viewed date. The seller promises the home will be in "substantially the same condition" at possession as when you saw it on this date.
• Offer deadline. If the seller does not accept by this time, BCFSA says it is as if they rejected your offer.

Two printed clauses matter most. The Time clause says "time will be of the essence", which means its deadlines are strict: if you do not pay the balance by the completion date, the seller can end the contract and keep what you paid. The Risk clause keeps the home at the seller's risk until 12:01 a.m. on the completion date, so your home insurance must start at that minute.

BCREA's list of standard form changes shows that on December 1, 2025 it added a "Final Acceptance Date" section to the residential form. The accepting party writes in the date, and the rescission period described below counts from it.

Counter-offers. If the seller changes anything in your offer, BCFSA treats that as a rejection and a new offer back to you. Once a counter-offer goes out, the seller cannot go back and accept your original offer.

When it binds you. BCFSA says a contract is legally binding as soon as both buyer and seller sign it, even when it contains subjects. Either side can go to court to enforce it.

The deposit: how much, when, and who holds it

BCFSA's consumer guide to deposits says five to 10 per cent of the purchase price is typical, and any amount can be negotiated. On an example price of $1,500,000, that is $75,000 to $150,000. The deposit becomes part of your down payment when the sale completes.

When it is due. BCFSA says that in most cases the deposit is paid either when the offer is accepted or when you remove subjects. The printed wording on the BCREA form makes it due within 24 hours of acceptance unless you and the seller write in a different time. Read that line carefully: the form lets the seller end the contract if you fail to pay the deposit as agreed. In our view, the timing is worth raising openly with the seller's agent, since it is one more term you can negotiate along with price and dates.

Who holds it. In most cases your own brokerage holds it in its trust account, a separate account protected under the Real Estate Services Act, according to BCFSA. The brokerage holds it as a "stakeholder": a neutral party holding the money for the deal, on behalf of neither buyer nor seller. Ask for a receipt. BCFSA's deposits page adds that unless the contract says who gets the interest earned on a deposit, it goes to the Real Estate Foundation of BC.

Getting it back. If a subject is not met and the deal ends, the brokerage still needs both you and the seller to sign a written release before it returns your deposit. If the seller refuses, BCFSA says you will need legal advice, and the money may be paid into the BC Supreme Court for a judge to decide. The rescission period is the one case where no release is needed.

Subjects: the conditions that protect you

A subject is a condition in the contract that must be met, or waived by you, by a set date. BCFSA says subject clauses must be "carefully and precisely worded", and that you must use every reasonable effort to satisfy them. A financing subject protects you if a lender says no after you tried. Changing your mind gives you no right to end the contract under a subject.

Financing

This gives you time to get final approval from your lender for this home. The lender may want an appraisal, its own estimate of what the home is worth. BCFSA advises making sure your contract covers the appraisal, because some lenders ask for one late.

Inspection

A licensed home inspector checks the parts of the home they can see and reach. BCFSA puts the cost at a few hundred dollars to over a thousand, depending on the size of the property, and notes that hidden problems may not be found. Our resale inspection checklist lists what to look at in an older multiplex.

Strata documents

For a strata lot, section 59 of BC's Strata Property Act requires the strata corporation to provide an Information Certificate (Form B) within one week of a request from an owner or buyer. It must attach the rules, the current budget and the most recent depreciation report (a long-term plan for repairs and their cost), if one exists, and include a summary of the strata's insurance. The Strata Property Regulation caps the fee at $35 plus copying of up to 25 cents a page.

Ask for the bylaws, recent meeting minutes and financial statements too. The Act gives the strata up to two weeks to supply most records, so set your subject date with that in mind. For a non-strata duplex there is no Form B, and your lawyer reviews the title and any shared wall agreement registered on it.

Title

A title search shows the owner and any charges registered against the property, such as easements (a right for someone else to use part of the land) or restrictive covenants (limits on how the land can be used). BCFSA lists searching title among the lawyer's jobs. We suggest getting a copy before you remove subjects, so your lawyer can raise anything unusual while you can still act.

Insurance

BCFSA notes that most lenders require you to keep the home insured. An insurance subject gives you time to read the strata's coverage and deductibles, and to get a quote for your own policy.

Property Disclosure Statement

A seller may fill out a Property Disclosure Statement, answering questions about the home, and you can make your offer subject to approving it. We cover this form, and the Property No-Disclosure Statement BCREA added in July 2025, in its own post later this month.

How long subjects last

BC law sets no fixed length; each subject runs to the date in the contract. BCFSA points out that you are asking the seller to take the home off the market while you work on your conditions, so fewer and shorter subjects make an offer more attractive. Build your dates from the steps: booking the inspection, getting the strata documents and hearing back from the lender.

Subject removal: the step that makes your purchase firm

Subject removal is when you tell the seller in writing that your conditions are met or waived. After that, no condition is left that lets you leave the contract.

If you do not remove a subject by its date, the contract ends, and the deposit is returned through the release process above. If you remove subjects and then cannot pay on the completion date, the Time clause lets the seller end the contract, keep what you paid and pursue you for further losses. This is why we tell buyers to remove a financing subject only after the lender's approval is in writing.

BCFSA also notes that a seller can accept your offer with subjects and keep the home on the market, using a clause that requires you to remove all subjects within a set time if another acceptable offer arrives. If you cannot, your contract ends.

The Home Buyer Rescission Period

Under BC's Home Buyer Rescission Period, a buyer of a strata lot or a unit in a duplex or other multi-unit home can cancel within three business days after acceptance by written notice, for a fee of 0.25 per cent of the price ($3,750 on a $1,500,000 home), and the period runs at the same time as your subjects. We explain it in full in a separate post on October 17; our earlier rescission period guide compares it with the pre-sale rule.

Offering on a home with several offers

With several offers, the seller can pick the best one and reject the rest, with no second round. BCFSA says a seller does not have to show you other offers or even say whether they exist. A seller is not permitted to lie, though, so have your REALTOR® ask directly whether your offer will be competing.

Some buyers drop all subjects to make their offer more appealing. BCFSA says this "comes with several risks". In November 2024 BCREA updated its Buyer Acknowledgement of Advice, Rights, and Benefits form to point out the risk of making an unconditional offer before financing is secured. If the lender later says no, you are still bound to pay.

In our view, these steps make an offer stronger while keeping your protection:

• Do the inspection before the offer date, if the seller allows it.
• Ask the listing agent for the strata documents before the offer date.
• Ask your lender to review this home before you offer, so a short financing subject is realistic.
• Shorten your subject period to the days you need.
• Have your deposit ready to pay on acceptance.
• Match the seller's preferred completion and possession dates, if you can.

We would rather see a family lose a home in a bidding contest than remove financing without a written approval. A 5 per cent deposit on a $1,500,000 home is $75,000, and that is the amount at stake if the purchase cannot be funded.

From accepted offer to completion: the timeline

You and the seller set the dates. This is the order of events, based on BCFSA's guide to completing your purchase and the information page on the BCREA form.

• Acceptance. The seller signs and the final acceptance date is written in.
• First three business days. The rescission period runs alongside your subjects.
• Subject period. Inspection, lender approval and appraisal, strata documents, title and insurance.
• Subject removal. You sign the notice. The deposit is paid now if your contract says so.
• Lawyer or notary work. They search title, get the strata certificates, prepare the transfer and the Property Transfer Tax return, and prepare a statement of adjustments showing what you owe.
• Before completion. You sign the documents and give your lawyer the rest of your down payment and costs. The BCREA form's information page recommends doing this at least two days before completion, and advises against a Saturday completion date because lenders will generally not fund new mortgages on Saturdays.
• 12:01 a.m. on completion day. The home is at your risk, so your insurance must be in force.
• Completion day. The transfer is registered at the Land Title Office and the seller is paid.
• Possession day. You get the keys at the time in the contract. BCFSA notes that completion and possession are not necessarily on the same date.

Our guide to closing day covers the last week in more detail.

What this comes down to

• The contract binds you once both sides sign, even with subjects in it.
• A deposit of five to 10 per cent is typical according to BCFSA. A brokerage holds it in trust as a neutral party, and it forms part of your down payment.
• Subjects protect you only while you make every reasonable effort to satisfy them.
• After subject removal, failing to complete can cost you the deposit and more.

Frequently asked questions

Is an accepted offer with subjects legally binding in BC?

Yes. BCFSA says a Contract of Purchase and Sale is legally binding as soon as both buyer and seller sign it, even if it contains subjects. The subjects set conditions that must be met before the sale completes, and you must make every reasonable effort to satisfy them.

How much deposit do I need for a resale duplex offer?

BCFSA's consumer guide says five to 10 per cent of the purchase price is typical, and any amount can be negotiated. On an example price of $1,500,000, that range is $75,000 to $150,000. The deposit counts toward your down payment when the sale completes.

When is the deposit due?

The printed BCREA form makes it due within 24 hours of acceptance unless the contract says otherwise. BCFSA says that in most cases a deposit is paid either on acceptance or when the buyer removes subjects. Check the deposit line of your own contract before you sign.

Do I get my deposit back if my financing falls through?

If you made every reasonable effort and the lender said no before your financing subject date, the contract ends. The brokerage still needs a release signed by both you and the seller before it returns your deposit. If the seller refuses, the matter may go to court.

How long do subjects usually last?

BC law sets no fixed length. Each subject runs to the date you and the seller agree on. Plan around the steps: a strata must provide a Form B within one week of a request and most other records within two weeks, and inspectors and lenders need time too.

What strata documents should I ask for on a duplex?

Ask for the Form B Information Certificate with its rules, budget and depreciation report, plus the bylaws, recent minutes, financial statements and the insurance summary. The Strata Property Regulation caps the Form B fee at $35 plus copying of up to 25 cents a page.

What if the duplex is not a strata?

There is no strata corporation, so there is no Form B or strata minutes to review. Your lawyer reads the title search and any shared wall agreement or easements registered on it. Make your offer subject to approving those documents, and ask how insurance works for the shared wall.

Can I back out after removing subjects?

You can, but it can cost you the deposit and more. Under the Time clause in the BCREA form, if you do not pay on the completion date the seller can end the contract, keep what you paid and claim other losses. Call your lawyer right away if something goes wrong after subject removal.

Should I make a subject-free offer?

BCFSA says subject-free offers carry several risks, and BCREA updated a buyer form in November 2024 to highlight the risk of offering before financing is secured. Do your inspection and document review before the offer date instead, and keep a short financing subject unless your lender has approved this home.

Will the seller tell me about other offers?

The seller does not have to share other offers or confirm that they exist, BCFSA says, but a seller is not permitted to lie. Have your REALTOR® ask directly whether your offer will compete. The seller can then pick the offer they prefer with no second round.

Is the completion date the day I get the keys?

Only if both dates match. Completion is the day ownership transfers and the seller is paid. Possession is the date and time in the contract when you can move in. BCFSA notes the two are not necessarily on the same day, so check both lines before you book movers.

General information only: the deposit ranges, fees and rules on this page come from BCFSA, BCREA and BC law as of October 2026, and the dollar examples are illustrations. This is not legal or financial advice. Rules and fees change, so speak with your REALTOR® and a real estate lawyer or notary before you sign any offer.

When you are ready to look at homes, browse duplexes and multiplex homes for sale, or talk to our team about writing your first offer.