Multiple Offers

Yes. Under the Real Estate Services Act (RESA) and BCFSA's Real Estate Services Rules and Code of Conduct, the listing licensee must disclose to all competing buyers that multiple offers have been received. This obligation exists to ensure transparent dealing with all parties in the transaction.

No. While the listing licensee must inform all competing buyers that multiple offers exist, BCFSA's Real Estate Services Rules and Code of Conduct prohibit the licensee from disclosing the price or specific terms of any competing offer to other buyers. Violating this rule can constitute misconduct under RESA.

A buyer's licensed real estate professional can help structure strategy around the offer price, deposit amount, subject conditions, subject-removal date, and completion date. Each of these elements can affect how attractive the offer appears to the seller in a competitive situation.

No. A seller in BC is not legally obligated to accept the highest offer or any offer at all, and may consider any combination of price and terms when evaluating competing offers. The seller's listing licensee must act in accordance with the seller's lawful instructions under RESA and BCFSA's conduct rules.

Property Transfer Tax (PTT) under the BC Property Transfer Tax Act is calculated on the fair market value of the property at the time of registration, which in a multiple-offer scenario may be the accepted purchase price if it reflects fair market value. Current PTT tiers are 1% on the first $200,000, 2% on the portion between $200,000 and $3,000,000, and 3% on the residential portion above $3,000,000. Exemptions such as the First-Time Home Buyers' Program (full exemption up to $835,000) or the Newly Built Home Exemption (up to $1,100,000) may apply if the buyer and property qualify under the Property Transfer Tax Act.

Removing or waiving subject conditions — such as financing, home inspection, or title review — means the buyer is bound by the contract without those protections if the offer is accepted. If the buyer then fails to complete, they may forfeit their deposit and face a claim for damages from the seller under general contract law principles applicable in BC.

This situation creates a significant conflict of interest under RESA and BCFSA's Real Estate Services Rules, which require licensees to avoid conflicts of interest and to disclose any that arise. A licensee representing multiple competing buyers on the same property would generally be unable to fulfill their fiduciary and statutory duties to each client simultaneously, and BCFSA guidance should be consulted for the specific conduct requirements that apply.

No — the listing licensee's obligation to disclose the existence of multiple offers to competing buyers under RESA and BCFSA's Real Estate Services Rules applies regardless of whether the property is a strata lot or freehold. However, strata-specific documents such as the Form B Information Certificate under the Strata Property Act (SBC 1998, c. 43) remain important for any buyer conducting due diligence on a strata property, even in a fast-moving multiple-offer situation.

In BC, deposits submitted with offers are typically held in trust by the listing brokerage or, in some cases, the buyer's brokerage, in accordance with RESA and BCFSA's trust account rules. If the seller accepts one offer and the other buyers' offers are not accepted, those buyers' deposits must be returned to them promptly, as unccepted offers do not create binding contracts.

Yes. A seller may instruct their listing licensee to set a specific offer presentation date and time, effectively creating a structured multiple-offer process, and this practice is consistent with RESA and BCFSA's Real Estate Services Rules so long as the licensee acts on the seller's lawful instructions and meets all disclosure obligations to competing buyers. The listing licensee must still inform all prospective buyers that multiple offers have been received once that situation arises, but cannot disclose competing offer prices or terms.