The subjects period is when
you find the real story.
As a licensed Burnaby REALTOR®, the purchases I've seen go sideways almost always come down to one thing: buyers who waived conditions to win, or who had conditions but didn't take them seriously. The subject-removal period exists for a reason. Use it to actually check things — don't just let the clock run.
The four conditions every Burnaby buyer should include
Subject to financing
Confirms your mortgage is approved at the terms needed to complete the purchase. Your pre-approval letter is not a commitment — lenders can still decline after the offer is accepted. The subject-to-financing clause gives you an exit if they do.
Subject to home inspection
Gives you 5–7 business days to have a licensed home inspector assess the property. Cost: $400–$700. A good inspection surfaces defects that affect value or safety — foundation cracks, moisture, electrical issues, roofing problems.
Burnaby note: Burnaby-specific flags: high rainfall increases moisture and mould risk in basements, attics, and crawl spaces. Older homes (pre-1980) may have aluminum wiring. Roof moss is common and can indicate underlying moisture issues. Hillside properties may have settlement or drainage concerns.
Subject to strata documents (strata properties)
For any condo or townhome: you have the right to review the strata documents before the deal becomes firm. This is where you find out if the building is well-run or heading for a financial crisis.
Subject to title search
Your lawyer or notary reviews the land title for encumbrances — existing charges, easements, rights-of-way, or restrictions that could limit your use of the property. Most standard, but don't skip it.
Strata document review — the checklist
For any condo or townhome purchase, reading the strata documents is not optional. This is where expensive surprises live. The full process is explained in the strata document guide, but here is what you are specifically looking for:
Depreciation report
A 30-year projection of every major building component's remaining life and replacement cost. If there is no recent report (required every 5 years since BC's 2024 amendment), that is a red flag.
Contingency Reserve Fund (CRF) balance
How much money the strata has saved for major repairs. Compare the CRF balance to the depreciation report's projected costs. A $200k reserve against a $600k projected roof replacement is a problem.
Recent meeting minutes (last 2 years)
What has been discussed? Any special assessments approved or pending? Any major deficiencies, litigation, or disputes? Minutes tell you what the financials don't show.
Strata insurance certificate
Confirm the building has adequate property and liability insurance. Gaps in coverage become owner liability.
Bylaws and rules
Rental restrictions, pet policies, renovation approval processes, noise rules. If you plan to rent the unit or own a large dog, verify before committing.
Burnaby-specific due diligence beyond the standard checklist
Burnaby has a few specific factors that don't show up on a standard buyers' checklist but matter here:
Peat bog and soft soils
Burnaby and adjacent East Vancouver have pockets of peat and soft soil that create significant foundation and drainage challenges. If you are buying a detached home or lot in an affected area, the peat bog guide covers where the deposits are and what remediation costs. This is especially relevant for lots you plan to hold and eventually redevelop under Bill 44.
School catchment verification
School catchment boundaries do not always align with what the listing says. If school access is important to you, verify the actual catchment with the Burnaby School District directly before committing. The school catchments guide explains how the four Burnaby district zones work.
Lot-level zoning and Bill 44 eligibility
If you are buying a detached lot and plan to hold it, verify whether it qualifies for small-scale multi-unit housing under R1 SSMUH zoning. Lane access, lot depth, proximity to frequent transit, and tree coverage all affect what can be built. Knowing this before you buy informs both your offer price and your long-term plan.
Red flags that warrant walking away
- →Home inspection reveals active moisture or mould that the seller has not disclosed
- →Depreciation report shows a major repair due within 5 years with no reserve fund to cover it
- →Meeting minutes show a special assessment already approved or under active discussion
- →Title reveals an encumbrance or easement that limits your use (check with your lawyer)
- →Peat bog or soft soil layer present on a detached lot you plan to hold and redevelop
- →Aluminum wiring throughout a pre-1980 home without a recent electrical panel upgrade
- →Financing falls through — your subject-to-financing clause lets you walk without penalty
Walking away during subjects is free. Walking away after you have removed subjects costs you your deposit. Use the period as it was designed to be used.
Key Takeaways
- 01.Always include subject to financing, inspection, and (for strata) strata document review. In 2026's balanced market, you rarely need to waive conditions to win.
- 02.Home inspection costs $400–$700 and surfaces the problems that listings don't disclose. Worth it every time in a market where prices start at $700k.
- 03.For strata: the depreciation report and CRF balance matter more than the strata fee. A low fee with a depleted reserve is a deferred liability.
- 04.Burnaby-specific: peat soils, school catchment accuracy, and lot-level zoning are worth verifying for any detached purchase.
This guide is general information as of June 2026. Subject periods, rescission rights, and strata rules are governed by BC law — confirm current requirements with your REALTOR®, notary or lawyer before relying on them.
Frequently Asked Questions
What is subject removal in a BC real estate offer?
Subject removal is the process of satisfying — or waiving — the conditions written into your purchase offer. Common subjects include financing, home inspection, and strata document review. You have a set number of days (typically 5–7 business days) to complete these checks. When you are satisfied, you remove the subjects and the deal becomes firm. If a condition is not satisfied, you can walk away and reclaim your deposit.
What is the BC cooling-off period for home purchases?
In BC, buyers have a 3-business-day rescission right after accepting an offer on a residential property — you can cancel within that window for a fee (0.25% of the purchase price). This is separate from the subject-removal period: the rescission right exists whether or not you have subjects, and it starts from acceptance, not from subject removal.
How much does a home inspection cost in Burnaby?
Expect $400–$700 for a standard home inspection from a licensed inspector. Complex properties, larger homes, or older buildings with more systems to inspect cost more. Never waive the inspection to win a bid unless you have walked the property with a contractor and understand what you are taking on.
What is a strata depreciation report and why does it matter?
A depreciation report is a 30-year projection prepared by a qualified professional showing every major building component, its estimated remaining life, and the cost to replace it. It lets you see whether the strata is financially prepared for upcoming repairs. BC strata corporations are required to update it every 5 years. If a building does not have a current report, that is a significant information gap.
Should I waive subjects to make a more competitive offer in Burnaby?
In 2026's balanced-to-buyer market, waiving subjects is less common and less necessary than in the 2021–2022 peak. Most well-priced homes can be won without waiving. Waiving inspection and strata documents removes protections that exist for good reasons — a building with a depleted reserve fund or a home with active moisture issues is a major financial risk that subjects would surface. The short-term competitive advantage is rarely worth the downside.
What Burnaby-specific issues should a home inspector check?
High rainfall makes moisture and mould in basements, crawl spaces, and attics more common than in drier climates. Homes built before 1980 may have aluminum wiring — a fire hazard that requires upgrading. Hillside properties and properties near Burnaby's peat bog areas may have drainage, settlement, or soil-bearing issues. Roofing moss buildup is common and can signal moisture infiltration. A Burnaby-experienced inspector will know what to look for.
Sources & References
- Buying a home in BC — a step-by-step guide — People's Law School
- Strata Property Act — strata corporation requirements — Province of British Columbia
- Rescission right — homebuyer protection in BC — BC Financial Services Authority