Multiplex Pre-Sale Timeline: Deposit to Keys (2026)

Buying a multiplex unit pre-sale in Vancouver is two transactions stitched together. The first is the day you sign the contract and write a deposit cheque. The second — the part most buyers underestimate — is the long quiet stretch between then and the day you actually walk through the door with keys in your hand.

That stretch is usually 18 to 36 months for a Vancouver multiplex, and a lot happens in it: more deposits come due, the building gets framed and finished, you do a walk-through, your lawyer registers title, and your mortgage finally funds. Knowing the sequence in advance is the difference between feeling in control of the process and feeling like the developer is calling all the shots.

Here's exactly what happens, in order, from the day you sign to the day you get the keys.

The high-level timeline

• Day 0: Sign the pre-sale contract and pay the initial deposit.
• Day 1–7: BC's seven-day rescission period — your only no-cost exit.
• Months 0–6: Subsequent deposit installments come due on contract dates.
• Months 6–24: The building actually gets built. Quiet on your end.
• Months 18–30: Mortgage broker re-engages. Final approval before completion.
• ~4 weeks before completion: Pre-completion walk-through ("deficiency walk").
• Completion day: Funds transfer, title registers, you become the legal owner.
• Possession day: Keys handed over, usually 1–3 days after completion.

The total elapsed time is normally 18 to 36 months for a four- to six-unit Vancouver multiplex, shorter than the 3–5 years that's typical for a tower, per Rain City Properties' 2026 BC pre-sale buyer's guide. Multiplex projects are smaller and finish faster than highrises.

Day 0: Signing and the initial deposit

You'll sign the Contract of Purchase and Sale (CPS) and a Disclosure Statement at the same time. The disclosure statement is the project's official prospectus — every page matters and your lawyer should read it before you sign, not after.

At signing, you'll usually pay an initial deposit of $5,000 to $10,000 by certified cheque or bank draft. This holds the unit while you complete the rest of the first installment. By BC law, every deposit must be held in a trust account by the developer's lawyer or a licensed trust company — not in the developer's operating account, per the BC Financial Services Authority. If a developer ever asks you to wire a deposit directly to a corporate account, stop and call your lawyer.

Days 1–7: The rescission period

BC's Real Estate Development Marketing Act gives every pre-sale buyer a seven-day rescission period from the date you receive the disclosure statement. During those seven days you can cancel the contract for any reason — or no reason — and get your deposit back in full.

Use the time. Have a real estate lawyer review the contract and disclosure, walk through the floor plan against the showroom unit, and re-check your mortgage pre-approval against the actual price (including parking, lockers, and GST). After day 7, walking away usually means losing your deposit. There's no comparable cooling-off period in resale contracts, so this is genuinely your only free exit.

Months 0–6: The deposit schedule

Pre-sale deposits in BC typically total 15% to 25% of the purchase price, paid in installments over the first 6 to 18 months. The exact schedule lives in your contract. A common pattern for a Vancouver multiplex looks like this on a $1,400,000 unit:

• At signing: 5% ($70,000), with $10,000 paid on the day of signing and the balance within seven days.
• Six months later: 5% ($70,000).
• Twelve months later: 5% ($70,000).
• At completion: balance of purchase price (mortgage funds, plus your remaining cash, plus closing costs and GST).

Some contracts add a 1–2% deposit two to three months before completion as a final hold-back. Bridgewell Real Estate Group's pre-sale deposit primer gives a clear walk-through of typical BC schedules. Read your specific contract — every developer structures it slightly differently.

Three things to check on the deposit schedule:

• Are the deposits tied to specific calendar dates or to construction milestones? Calendar dates are predictable; milestones can shift if construction is delayed.
• Where are the deposits held? Trust account at a named law firm or licensed trust company is the only acceptable answer.
• Do the deposits earn interest, and who keeps it? In BC, deposit interest typically accrues to the buyer.

Months 6–24: The quiet phase

This is the longest stretch and the one buyers find most disorienting. The developer is busy. You aren't. Excavation, foundation, framing, mechanical, finishing — months pass and you might hear from the project once a quarter, in an email update with construction photos.

What you should be doing during the quiet phase:

• Keep your finances clean. Don't take on new debt, don't change jobs without telling your mortgage broker, and don't cosign anything for anyone. Lenders re-verify every borrower at completion.
• Save aggressively for closing costs. Property transfer tax, GST on new construction, legal fees, title insurance, and moving will run roughly 4 to 7% of the purchase price on top of your deposits.
• Drive past the site every few months. You're allowed. Take photos. It's reassuring to see progress.
• Watch your contract dates. If a deposit is due and you somehow miss it, the developer can declare the contract in default and keep what you've paid.

Months 18–30: Mortgage approval round two

Your original mortgage pre-approval was a placeholder. Lenders won't actually fund a pre-sale until the building is close to ready, because rates and rules will have moved. Roughly 90 to 120 days before the developer's estimated completion, your mortgage broker will need to formally re-qualify you against current rates, current lender stress-test rules, and current appraised value of the unit.

Three risks live here:

• Rate risk. The five-year fixed you assumed at signing might be 100 basis points higher at completion.
• Income risk. If a co-borrower has changed jobs, gone on parental leave, or started a business, requalifying gets harder.
• Appraisal risk. If the market has cooled, the lender's appraisal might come in below the contract price, which means you'll need to bring extra cash to closing.

Smart buyers stay in monthly contact with their broker for the last six months before completion. Surprises here are expensive.

Four weeks before completion: the walk-through

About four to six weeks before the developer's projected completion date, you'll be invited to a pre-completion walk-through, also called a deficiency walk. This is your one chance to inspect the actual unit you're buying before you take ownership.

Bring three things: a checklist, a roll of low-tack painter's tape, and your phone with the camera ready.

What to look for, in priority order:

• Anything missing or wrong against the spec sheet — wrong appliance, wrong floor, wrong cabinet colour.
• Doors and windows — every one should open, close, and lock.
• Plumbing — run every tap, flush every toilet, check under every sink.
• Electrical — flip every switch, plug a phone charger into every outlet.
• Cosmetic — scratches on the floor, dings in the drywall, cabinet doors that don't sit straight.

Tape and label every issue, photograph it, and have it added to a written deficiency list signed by the developer's representative on the spot. The deficiency list is your contractual proof that something needs fixing — and crucially, the home is also covered by BC's mandatory 2-5-10 New Home Warranty for major issues that show up later. Hire a private inspector to come with you if you can; many buyers find $400 here is the best money they spend in the whole process.

Completion day: the legal handoff

On completion day, your lawyer wires the balance of the purchase price (mortgage funds plus the rest of your cash) to the developer's lawyer. The Land Title Office registers the transfer. You become the legal owner, even if you don't have keys yet. The clock on your mortgage starts on this date.

Things you'll handle through your lawyer in the days leading up to completion:

• Sign closing documents (mortgage, statement of adjustments, transfer).
• Pay BC Property Transfer Tax — generally 1% on the first $200,000 and 2% on the balance up to $2 million, with new-home and first-time-buyer exemptions if you qualify.
• Pay GST on new construction (5%), with the federal GST New Housing Rebate available on principal-residence purchases under the rebate threshold.
• Set up insurance — your strata covers the building envelope; you cover everything inside your unit and your liability.

Possession day: keys

Possession day is usually one to three business days after completion. The developer's representative meets you at the unit, hands over keys, fobs, garage remotes, and a packet of warranty information. They walk through the deficiency list with you one last time. You sign for the keys. The home is yours.

Most buyers arrange movers for possession day or the day after. We strongly suggest scheduling a buffer — Vancouver elevator bookings and parking-permit logistics for moves are a real thing in stratas, and a 24-hour gap between possession and move-in keeps the day from becoming a circus.

What can go wrong, and what protects you

Three things go wrong most often in BC pre-sales:

• The developer pushes the completion date back. BC contracts allow this within a stated outside-completion-date range (usually a 12-month window). If the developer misses the outside date, you can walk away and recover your deposit. Read your contract for the exact date.
• The developer materially changes the project (different finishes, different layout, different parking). BC's disclosure-statement rules require an amendment, and material amendments give you a fresh seven-day rescission period.
• Your mortgage falls through at completion. This is the buyer's risk and the most common reason pre-sale buyers lose deposits. Stay in tight contact with your broker for the last year.

What this comes down to

A pre-sale multiplex is not a standard real estate deal. It's a long, structured agreement with checkpoints baked in: signing, the seven-day window, deposit dates, the requalifying mortgage, the deficiency walk, completion, and finally keys. Each one is a place where you have rights, and a place where mistakes cost real money.

In our view, the buyers who do best are the ones who treat the pre-sale period like a part-time job for the first month and the last six months — and otherwise let the developer build. The middle is supposed to be quiet.

FAQ

How long does a Vancouver multiplex pre-sale take from signing to keys?

Most four- to six-unit multiplex projects in Vancouver complete 18 to 30 months after pre-sale launch. That's noticeably faster than the 3–5 years that's typical for highrise condo towers. Smaller buildings simply move through the build process more quickly.

How much deposit do I need for a Vancouver pre-sale multiplex?

Plan on 15% to 25% of the purchase price, paid in installments over the first 6 to 18 months after signing. The exact schedule is in your contract. A common pattern is 5% at signing, 5% at six months, and 5% at twelve months.

Can I cancel a BC pre-sale contract?

You can cancel at no cost during the seven-day rescission period that begins when you receive the disclosure statement. After day seven, walking away usually means losing your deposit, unless the developer materially changes the project or misses the outside completion date in your contract.

What's a deficiency walk-through?

It's the pre-completion inspection of your finished unit, usually four to six weeks before completion day. You and the developer's rep document any issues — wrong fixtures, cosmetic damage, anything missing from spec — on a written deficiency list the developer must address before or shortly after completion.

Next step

Want a plain-English read of a specific pre-sale contract or deposit schedule before you sign? Reach out to the MultiLiving team — we'll walk through the timeline and the trap doors with you. Or browse current Vancouver multiplex pre-sales on our properties page.