Presale Deposit Structures in Burnaby in 2026 — What You Pay and When

When a buyer walks into a Burnaby presale sales centre, the number on the wall is the purchase price. The number that actually governs the next two years of their finances is the deposit schedule, and it's usually buried in the contract rather than featured on the brochure. I spend more time explaining deposit structures than almost any other part of a presale, because it's where buyers either get caught short on cash or get caught not knowing where their money went.

This is a walk through how presale deposits work in Burnaby towers in 2026: how much, when, where it's held, and what happens if the project doesn't get built. None of it is legal advice — a presale contract is a binding legal document and you should read it with a real estate lawyer — but knowing the structure before you sit down makes you far harder to rush.

How much you put down, and over how long

Most Burnaby presale condo projects ask for a total deposit of 15% to 20% of the purchase price. You don't write one cheque. The deposit is staged across milestones, and the schedule varies from project to project.

A common pattern looks something like this on a $700,000 unit:

• An initial deposit on signing — often 5% ($35,000), sometimes more.
• A second deposit a few months later — another 5% ($35,000), frequently tied to the end of the rescission period plus a set number of days.
• Further instalments at later dates or construction milestones — bringing the total to 15% or 20% over the course of a year or two.

So on that $700,000 unit, you might commit $105,000 to $140,000 in deposits, spread out, long before the building is finished and long before you hold keys. Foreign buyers and some investor purchasers are often asked for a higher total deposit, sometimes more than 20%.

The exact percentages and dates are spelled out in the contract of purchase and sale. Read that schedule carefully and map it against your own cash flow, because once you sign, those dates are obligations. Missing a deposit instalment can put you in default and put the earlier deposits at risk.

Where your money actually sits

This is the question buyers should ask first and usually ask last: where is the deposit held while the building goes up?

In British Columbia, presale marketing is governed by the Real Estate Development Marketing Act, usually shortened to REDMA. Under that framework, deposits paid by presale buyers generally must be held in trust — typically by a brokerage or a lawyer or notary acting as trustee — rather than handed straight to the developer to spend. The intent is to keep your money protected and accounted for while construction proceeds, not used as the developer's working capital.

That word "generally" matters, and so do the exceptions. In some cases a developer can access deposit funds earlier if they post adequate security, such as a bond. This is exactly the kind of term that lives in the disclosure statement, and it's exactly the kind of term a sales representative is unlikely to walk you through unprompted. Confirm how your deposit is held and whether the developer has any right to draw on it before completion. After two Burnaby presale projects ran into insolvency, this stopped being an abstract concern.

The rescission period — your window to read everything

When you sign a presale contract and receive the disclosure statement, B.C. law generally gives you a rescission period of seven days. During that window you can cancel the contract without penalty and have your deposit returned. It's a genuine protection, and it exists precisely so you have time to review the documents you couldn't fully digest at the sales centre.

Use those seven days deliberately. The disclosure statement is the document that sets out the deposit schedule, how deposits are held, the developer's rights to make changes, the anticipated completion timeline, and the developer's ability to extend it. I tell buyers to get the disclosure statement in front of a real estate lawyer inside that window every time. It's a modest cost against a six-figure commitment, and the lawyer is reading for the clauses that don't make it into the sales pitch.

For the broader presale picture — financing risk, GST, assignment, and how presale compares to buying resale — I walk through the full trade-offs in presale vs. resale condo in Burnaby.

What happens to your deposit if the project is cancelled

This is the scenario that used to feel theoretical in Burnaby and no longer does. Presale projects can be cancelled or fall into insolvency when a developer can't secure financing, can't hit pre-sale targets, or runs out of money mid-build.

What happens to your deposit depends heavily on how it was held and the specific circumstances:

• If your deposit was held properly in trust and the developer simply cancels before construction, the deposit is generally returned to you — though often without the interest you might have earned had that money been invested elsewhere for a year or two.
• If the developer becomes insolvent, things get more complicated. The outcome can depend on whether the deposit funds were genuinely protected in trust, whether the developer had drawn on them under a bonding arrangement, and where you sit relative to other creditors. This is the situation where buyers can face real loss or long delays, and it's why verifying both the developer's financial strength and the deposit protection up front matters so much.

There's no blanket guarantee that a presale deposit is risk-free. The protection comes from the structure — money held in trust under REDMA — combined with choosing a financially solid developer. Neither alone is enough.

What I tell Burnaby presale buyers to confirm before signing

If you're considering a presale in a Brentwood tower or anywhere else in Burnaby, here's the short list I run through with clients:

1. The full deposit schedule — every amount and every date — mapped against your own cash flow.
2. Where the deposit is held, who the trustee is, and whether the developer has any right to draw on the funds before completion.
3. The developer's track record and financial backing. A well-capitalized developer with completed projects behind them is a different bet than a newcomer funding construction off your deposits.
4. The completion timeline and the developer's rights to extend it — your deposit stays tied up for the duration.
5. The contract reviewed by a real estate lawyer inside your rescission window.

Get those five right and you've removed most of what goes wrong with presale deposits. Skip them and you're trusting a brochure with six figures of your money.

Key Takeaways

• Burnaby presale deposits typically total 15% to 20% of the purchase price, staged across milestones over a year or two rather than paid all at once.
• Under B.C.'s REDMA framework, presale deposits generally must be held in trust, not spent freely by the developer — confirm this before signing.
• The rescission period (generally seven days) is your window to review the disclosure statement, ideally with a real estate lawyer.
• If a project is cancelled and the deposit was properly held in trust, it's usually returned; insolvency is more complicated and can lead to delay or loss.
• Verify both the deposit protection and the developer's financial strength — one without the other isn't enough.

Frequently Asked Questions

How much deposit do I need for a presale condo in Burnaby?

Most Burnaby presale projects require a total deposit of 15% to 20% of the purchase price, paid in stages over a year or two rather than all at once. Some investor or foreign-buyer purchases require more. On a $700,000 unit, that's roughly $105,000 to $140,000 committed before completion.

Is my presale deposit safe in British Columbia?

Under the Real Estate Development Marketing Act, presale deposits generally must be held in trust rather than spent by the developer, which provides real protection. However, exceptions exist — some developers can access funds early with adequate security. Confirm how your deposit is held and verify the developer's financial strength before signing.

What happens to my deposit if a Burnaby presale is cancelled?

If the deposit was properly held in trust and the developer cancels before building, it's generally returned, often without interest. If the developer becomes insolvent, the outcome is more complicated and can involve delays or loss depending on how funds were held. Two Burnaby projects recently entered insolvency, making this a real concern.

Can I get my deposit back during the rescission period?

Yes. B.C. law generally gives presale buyers a seven-day rescission period after signing and receiving the disclosure statement, during which you can cancel without penalty and recover your deposit. Use that window to review the disclosure statement carefully, ideally with a real estate lawyer.

Sources

• Province of BC — Real Estate Development Marketing Act (REDMA)
• BC Financial Services Authority — Buying into a development (presale)
• Greater Vancouver REALTORS — Monthly Market Report

Information sourced June 2026. This is general guidance, not legal or financial advice. Presale contracts and disclosure statements are binding legal documents — review them with a real estate lawyer before signing.

Work With Jersey Li

A presale deposit is one of the largest financial commitments you'll make before you own anything, and the terms are easy to misread at a sales centre. If you want help reviewing a specific Burnaby presale — including a hard look at the deposit schedule and the developer behind it — read my presale and new construction guide, then get in touch. Selling to fund the purchase? Start with a no-obligation valuation.