General information only — not legal, tax, financial, or real-estate advice. Verify with a licensed BC professional before acting.
The buy-first approach describes the sequence where a consumer purchases (or firmly commits to purchase) their next home before selling their existing home. Consumers commonly research this approach when they want certainty of housing between transactions, when the target market is highly competitive, or when their finances support carrying two properties briefly. Trade-offs may include bridge financing, dual mortgage-carrying costs, and the possibility of the existing home selling for less than expected. Whether a buy-first, sell-first or simultaneous approach is right for you is a decision to discuss with your own licensed REALTOR®, mortgage broker and — where relevant — a lawyer or notary.
Bridge financing is a short-term loan (typically up to 90-120 days) that lets you access the equity in your existing home to complete the purchase of the next one, before the existing home has closed. Lenders typically require a firm sale before advancing bridge funds. Terms and eligibility vary — verify current terms with your mortgage broker or lender.
Yes — a subject-to-sale clause is a common condition in a Contract of Purchase and Sale. Sellers may accept, reject or add a 'time clause' allowing them to keep marketing the property. Discuss suitability with your licensed REALTOR® and lawyer.
Verify the specific statutory language, thresholds, deadlines and current guidance directly with the governing authority: