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Making an Offer on a Home in Victoria BC — Complete Buyer Guide | Janine Thomson, ABR®
Buying a Home › Making an Offer on a Home — Victoria BC
Victoria, BC · Buyer Resource Guide
Making an offer on a home in Victoria BC.
Writing a strong offer is about far more than purchase price. From contract basics and deposit strategy to subject clauses, counter offers, and competing in multiple offer situations — here is everything you need to know.
The BC Contract of Purchase and Sale — what it is and why it matters
In British Columbia, all real estate offers must be made in writing using the Contract of Purchase and Sale — a legally binding document that governs every residential real estate transaction in the province. Understanding what goes into this contract, and what each clause means for you as a buyer, is one of the most important things your Realtor does before you write a single offer.
The Contract of Purchase and Sale is prepared by BC real estate professionals and sets out the terms under which a buyer agrees to purchase and a seller agrees to sell a specific property. Once both parties sign and all conditions are satisfied, it becomes a legally enforceable agreement. There is no cooling-off period for most standard resale transactions in BC — when you remove your subjects, you are committed.
Legally binding
Every word matters
The Contract of Purchase and Sale is a legal document. Each clause carries real implications. Having an experienced Realtor draft and review every term on your behalf is not optional — it is essential.
Buyer protection
Subject clauses are your safety net
Conditions written into the contract protect your deposit and give you the right to walk away if financing falls through, the inspection reveals problems, or title issues arise.
Negotiation tool
Price is only one term
Experienced buyers know that possession date, deposit size, included items, and subject periods are all negotiable — and can be as important as the purchase price in winning an offer.
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Janine’s advice: Before we write any offer, I walk every buyer through the full Contract of Purchase and Sale line by line. Nothing goes in without you understanding exactly what it means and agreeing to it. A well-drafted offer protects you legally and positions you competitively — both matter equally in Greater Victoria’s market.
Contract basics
The key terms in every BC real estate offer
Every offer on a home in Victoria BC contains the same core elements. Understanding what each one means — and how each can be used strategically — gives you a significant advantage as a buyer.
What your offer must include
Every BC Contract of Purchase and Sale must identify the property by legal description and civic address, name the buyer(s) and seller(s), specify the purchase price, define the deposit amount and when it is due, establish a completion (closing) date, set a possession date, list any included or excluded items, identify any subject clauses and their removal dates, and be signed by all parties.
Each of these elements can be negotiated. An experienced buyer’s Realtor uses every term strategically — not just the price — to make your offer as attractive as possible to the seller while protecting your interests completely.
1
Purchase price
The amount you are offering to pay for the property. Establishing the right price requires a comparative market analysis of recent sales in the area — not a guess, not a lowball, and not simply the asking price. In Greater Victoria, properties in Fairfield, Oak Bay, and Saanich often attract offers at or above list price. Properties in Colwood, Langford, or Sooke may have more flexibility. Your Realtor will advise on current market conditions before you commit to a number.
2
Deposit
A good-faith payment made by the buyer within 24 hours of offer acceptance (or within a timeframe specified in the contract). The deposit is held in trust by the listing brokerage and applied toward your purchase price at closing. In Victoria BC, deposits typically range from 5% of the purchase price. A stronger deposit signals serious intent to the seller.
3
Completion date
The date on which legal title transfers from the seller to the buyer and the purchase funds are transferred through your lawyer. This is the day your mortgage funds and the balance of the purchase price flow through the Land Title Office. Completion typically happens one to two days before possession.
4
Possession date
The date on which you receive the keys and can physically occupy the property. Possession is typically one to two days after completion. The gap allows the legal transfer to register before you take occupancy. In some cases — particularly with vacant properties or motivated sellers — same-day completion and possession can be negotiated.
5
Subject removal date
The deadline by which all conditions in your offer must be satisfied or waived. Subject periods in Greater Victoria typically run five to seven business days for standard residential purchases. Once subjects are removed, the contract becomes firm and unconditional — your deposit is at risk if you do not complete.
6
Included and excluded items
The contract must specify what stays with the property and what the seller is taking. In BC, fixtures are generally included unless excluded in writing. Chattel (moveable items) must be specifically included to stay. Appliances, light fixtures, window coverings, built-in shelving, and outdoor equipment are common areas of dispute — your Realtor will make sure everything you expect is written into the contract clearly.
7
Irrevocability
Your offer is open for the seller to accept until the irrevocability date and time you specify. In competitive situations, short irrevocability windows — sometimes just a few hours — create urgency. In quieter markets, offering the seller 24 to 48 hours gives them time to consider your offer without pressure. Your Realtor will advise on timing strategy based on the specific property and market conditions.
Good-faith commitment
The deposit — what it is, how much, and what happens to it
The deposit is one of the most misunderstood elements of a BC real estate offer. Many buyers confuse it with the down payment — they are not the same thing. Understanding how deposits work protects your money and strengthens your negotiating position.
Deposit
Your deposit is not your down payment
The deposit is a portion of your purchase price paid immediately after offer acceptance — typically within 24 hours — and held in the listing brokerage’s trust account until completion. It demonstrates your commitment to the purchase and gives the seller confidence in your offer.
At closing, your deposit is credited toward the total purchase price — it becomes part of your down payment. You are not paying twice. The full purchase price minus your deposit balance is what your lawyer reconciles at completion.
In Greater Victoria, deposits of approximately 5% of the purchase price are typical for resale properties. In competitive situations, a larger deposit can strengthen your offer without changing the total purchase price.
5%typical deposit
If subjects are removed
Deposit is at risk
Once all subject clauses are removed, the contract is firm
If you fail to complete for any reason, the seller may claim your deposit
The seller may also pursue damages beyond the deposit amount
Never remove subjects unless you are fully committed to completing
Work with your Realtor and lawyer if unexpected issues arise after subject removal
If subjects are not removed
Deposit is returned
If you exercise a subject clause legitimately, your deposit is returned in full
The return is processed through the listing brokerage’s trust account
Written notice of subject removal failure is required
Both parties must sign a release to return the deposit in most cases
Disputes over deposit return require legal resolution — rare in standard transactions
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Practical note: Your deposit must be paid by certified cheque, bank draft, or wire transfer within the timeframe specified in the contract — typically 24 hours of acceptance. Make sure these funds are liquid and accessible before you write an offer. A deposit payment that cannot be made on time puts your accepted offer at risk.
Timing matters
Completion, possession, and adjustment dates in Victoria BC
The dates in your offer are not just logistics — they are negotiating tools. Aligning your dates with what the seller needs can make your offer more attractive even when your price is not the highest.
Date type
What it means
Completion date
Legal transfer of title and funds — your lawyer's closing day
Possession date
When you receive the keys — typically 1 to 2 days after completion
Adjustment date
The date from which prepaid costs (property tax, strata fees) are split between buyer and seller
Subject removal date
Deadline for satisfying all conditions — typically 5 to 7 business days after acceptance
Irrevocability date
How long the seller has to accept, reject, or counter your offer
Deposit due date
When certified funds must be delivered to the listing brokerage — typically within 24 hours of acceptance
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Janine’s advice: In Greater Victoria, asking the listing agent what dates work best for the seller — before you submit your offer — can be powerful. A seller who needs a quick close, a long possession period, or a specific month-end date may choose your offer over a higher-priced one that doesn’t work with their timeline. I always gather this intelligence before we write.
What stays, what goes
Included and excluded items — getting it in writing
In British Columbia, the rule of thumb is that fixtures stay and chattels go — unless the contract specifies otherwise. In practice, the line between a fixture and a chattel is often blurry, and ambiguity in this area is a common source of buyer disappointment at possession. Everything you expect to remain in the home must be written into your offer explicitly.
Generally included (fixtures)
Attached to the property
Light fixtures — unless specifically excluded by the seller
Built-in shelving, cabinetry, and storage systems
Blinds, shutters, and window coverings attached to the wall
Central vacuum systems and attachments
In-ground irrigation systems
Garage door openers and remotes
Security system hardware (not monitoring contracts)
Fireplace inserts that are not permanently installed
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Common Victoria BC scenario: Character homes in Fairfield and Oak Bay frequently have cherished original light fixtures, claw-foot bathtubs, period hardware, and custom built-ins the seller may want to take. These items must be explicitly excluded in the listing — if they are not excluded in writing and were present when you viewed the home, they belong to you at possession. I review the exclusions list on every listing before we write and make sure your offer protects what you saw.
Your conditions
Subject clauses — the conditions that protect your purchase
Subject clauses are conditions written into your offer that must be satisfied before the contract becomes unconditional. They are your legal right as a buyer to investigate the property, confirm your financing, and review relevant documents — before you are committed to closing.
1
Subject to financing
Gives you the right to withdraw if your lender does not approve the mortgage on the specific property within the subject period. Even with a pre-approval in hand, final mortgage commitment depends on the lender approving the property itself — including its appraised value, title, and property characteristics. This subject protects your deposit if financing is declined. For competitive offers, your mortgage broker can sometimes provide a near-firm commitment in advance that allows you to shorten or remove this subject.
2
Subject to home inspection
Gives you the right to have a licensed BC home inspector assess the property and withdraw from the purchase if the findings are not satisfactory to you. The standard language gives you broad discretion — you do not need to find a specific defect; if you are genuinely not satisfied with the inspection results, you can walk away. For older homes in Victoria — pre-1970 character properties in Rockland, Fernwood, James Bay, or Oak Bay — this subject is especially important.
3
Subject to review of strata documents
For any strata property — condo or townhome — this subject gives you the right to review the strata corporation’s financial statements, depreciation report, meeting minutes, bylaws, rules, and Form B Information Certificate. The depreciation report reveals planned major repairs and whether the contingency reserve fund is adequately funded. An underfunded strata is a red flag that can justify withdrawing from the purchase or renegotiating the price.
4
Subject to sale of buyer’s property
A condition that allows you to withdraw if your existing home does not sell within a specified period. Sellers are generally reluctant to accept this subject in a competitive market, and it often comes with an escape clause giving the seller the right to continue marketing and accept another offer with a set notice period for you to remove or waive the subject. In Victoria’s market, this subject significantly weakens your offer and is best avoided through proper sale planning.
5
Subject to title review
Gives your lawyer the right to review the property title at the Land Title Office and identify any registered charges, easements, covenants, rights of way, or other encumbrances that could affect your use and enjoyment of the property. Most residential transactions in Victoria have clean titles, but older properties occasionally carry registered charges from historical dealings that warrant legal review before you commit.
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Removing subjects is permanent. Once you notify the seller in writing that all subjects are removed, your offer becomes firm and unconditional. Your deposit is immediately at risk. I never recommend removing subjects under pressure or before every condition has been genuinely and fully satisfied. If you need more time, the right move is to request an extension — not to remove prematurely.
The negotiation
Counter offers — how negotiation works in BC real estate
A seller who does not accept your offer outright has two options: reject it entirely, or counter with revised terms. A counter offer is a new offer from the seller — it nullifies your original offer and begins a fresh negotiation. Understanding how this process works keeps you in control at every step.
How counter offers work in Greater Victoria
When a seller counters your offer, they can adjust any term — price, deposit amount, completion date, possession date, included items, subject periods, or all of the above. They sign the counter offer with their changes, and it is presented to you for acceptance, counter-counter, or rejection.
Each counter offer has its own irrevocability period — a deadline by which you must respond. Missing this deadline allows the seller to withdraw the counter and negotiate with another buyer.
Counter offers are common and entirely normal in Victoria’s market. They signal that the seller is engaged and willing to deal. The goal of negotiation is not to win on every term — it is to reach an agreement that works for both parties while protecting your core interests.
Your Realtor’s role in this process is to advise you on which terms to concede, which to hold firm on, and how to frame your responses to maintain goodwill while advancing your position.
Price counters
Meeting in the middle
Know your absolute maximum before negotiations begin. Decide in advance how far you are willing to move, and let your Realtor handle the communication — emotion and pressure can cloud decisions in the moment.
Term counters
Beyond the price
Sometimes the seller counters on dates, deposit, or included items rather than price. Understanding which terms matter most to the seller — and which you can flex on — can close a deal without moving on price at all.
Realtor communication
The conversations behind the scenes
Much of the most important negotiation in Victoria BC real estate happens between Realtors before a counter is even drafted. Janine’s relationships and communication skills are a direct advantage to you at this stage.
Competitive situations
Multiple offers in Victoria BC — what happens and how to compete
Multiple offer situations — where two or more buyers submit offers on the same property simultaneously — are a reality in Greater Victoria’s market, particularly for well-priced homes in Saanich, Oak Bay, Fairfield, Langford, and Sidney. Knowing how these situations are handled in BC, and how to position your offer to win, is one of the most valuable things your Realtor brings to the table.
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BC disclosure rules: In British Columbia, a seller’s agent must disclose to all competing buyers that multiple offers exist — but they cannot disclose the specific terms of competing offers. You will know you are competing, but not what the other offers say. This means your first offer must be your best considered offer, not an opening bid designed to be countered.
Strongest signals
What wins multiple offers
Strong price supported by a current CMA. Clean, short subject periods with solid pre-approval. Large deposit demonstrating commitment. Dates aligned with the seller’s needs. Personal letter where appropriate and permitted.
Consider carefully
When to escalate your price
Escalation clauses — where you agree to beat any competing offer by a set amount up to a ceiling — are used occasionally in Victoria BC. They carry risk: you must be prepared to pay the ceiling price and verify competing offers exist. Discuss this strategy with your Realtor before using it.
Proceed with care
Waiving subjects in competition
Removing inspection or financing subjects to win a competition is a high-risk strategy. It is sometimes appropriate — but only when your financing is essentially confirmed and you accept the property as-is. Never waive subjects under pressure without fully understanding the consequences.
Often overlooked
Non-price terms matter
A seller moving to their dream home in Mexico on a specific date does not want the highest price with the wrong possession timeline. Sellers are humans with real needs. Alignment on dates, deposit, and terms can win over a slightly higher competing offer that doesn’t work for the seller’s life.
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Janine’s competitive advantage: Having represented buyers in Greater Victoria through multiple market cycles, I know how to position an offer to compete — without encouraging you to overpay or take on unnecessary risk. My approach is always: what is the right offer for this buyer, at this property, in these conditions? Not simply: what is the highest number.
From viewing to accepted offer
The offer process — step by step in Victoria BC
Understanding exactly what happens between finding the right home and having an accepted offer keeps you organized, calm, and in a position to move quickly when it matters.
1
Property review and market analysis
Before writing any offer, your Realtor reviews recent comparable sales in the neighbourhood to establish the property’s fair market value. In Greater Victoria, this analysis is hyper-local — sales in Rockland price differently than Hillside, and sales in Cordova Bay price differently than Gordon Head, even within the same Saanich municipality.
2
Gather intelligence on the listing
Your Realtor contacts the listing agent to understand the seller’s priorities — ideal dates, any concerns about the property, whether other offers are expected, and what terms matter most. This intelligence shapes your offer strategy before a single clause is drafted.
3
Draft the Contract of Purchase and Sale
Your Realtor prepares the full contract, drafting every term carefully — price, deposit, dates, included items, subject clauses, and any special conditions specific to this property. Nothing is boilerplate. Each clause is considered and explained to you before you sign.
4
Review, discuss, and sign
You review the offer with your Realtor line by line. Every term is explained and you confirm your understanding and agreement before signing. No buyer of mine signs anything they haven’t fully read and understood.
5
Offer presentation
Your Realtor presents the offer to the listing agent and seller — in person where possible, or digitally. The manner of presentation matters. Realtors with strong reputations and professional relationships in Victoria’s market carry more credibility than unknown agents from outside the area.
6
Negotiate and respond
The seller accepts, counters, or rejects. If a counter is received, your Realtor advises you on each changed term and recommends a response strategy. This stage moves quickly — irrevocability periods can be as short as a few hours in a competitive situation.
7
Acceptance and deposit
When the offer is accepted by all parties, you have a binding contract — subject to your conditions. Your deposit must be delivered within the timeframe specified in the contract. Your subject period begins the day of acceptance.
8
Satisfy subjects and remove
During the subject period, you complete your home inspection, finalize your mortgage approval, review strata documents if applicable, and address any other conditions. When all subjects are satisfied, you remove them in writing. Your contract is now firm and you are committed to closing.
Common questions
Making an offer FAQ — Victoria BC buyers
Honest answers to the questions buyers ask most about writing and negotiating offers in Greater Victoria.
Can I make an offer on more than one property at the same time? ⌄
Yes — there is no BC law preventing you from submitting offers on multiple properties simultaneously. However, if both offers are accepted, you could find yourself legally obligated to complete two purchases. In practice, most buyers work with their Realtor to prioritize their preferred property and move sequentially rather than simultaneously. If you are considering multiple offers at once, discuss the legal implications with your Realtor and a lawyer before proceeding.
What happens if I change my mind after the offer is accepted but before subjects are removed? ⌄
Before subjects are removed, you can still walk away from the purchase — but only if you have a legitimate subject clause that you can exercise. If you have an inspection subject and choose not to proceed based on the inspection results, you can decline to remove that subject and the contract dies. However, if you attempt to walk away without exercising a valid subject clause, you may be in breach of contract and your deposit is at risk. Always talk to your Realtor and potentially a lawyer before declining to remove subjects.
What is the difference between completion and possession date in BC? ⌄
Completion is the legal and financial closing day — when title transfers at the Land Title Office and purchase funds flow through your lawyer. Possession is when you physically receive the keys. In BC, completion typically happens one to two business days before possession to allow the Land Title Office to register the transfer. You cannot move in until possession day, even if completion has occurred. Same-day completion and possession is sometimes possible on vacant properties.
Can the seller back out after accepting my offer? ⌄
Once a seller has signed your offer — including any counter offers — and you have a fully executed contract, the seller is legally bound. They cannot simply change their mind and sell to someone else. If a seller attempts to back out of an accepted contract in BC, the buyer has legal remedies including specific performance (compelling the sale to proceed) or damages. This situation is rare but real — having an experienced Realtor and lawyer in your corner is your best protection.
Should I offer over asking price in Victoria BC? ⌄
It depends entirely on the property, the neighbourhood, and current market conditions — not a general rule. Some Victoria BC properties are listed below market value to generate competition. Others are listed at or above market and need to be negotiated down. Your Realtor should provide you with a comparative market analysis before you decide on an offer price. In strong sellers’ markets in areas like Saanich, Fairfield, and Oak Bay, offers above list price are common. In buyers’ markets or for overpriced listings, negotiating below asking is entirely appropriate.
How long do I have to decide whether to accept a counter offer? ⌄
The irrevocability period specified in the counter offer. This can be as short as a few hours or as long as 24 to 48 hours depending on the situation. If you do not respond within the irrevocability window, the counter offer expires and the seller is free to negotiate with other parties. In competitive situations, counter offers come with short deadlines to maintain pressure. Your Realtor will always advise you on timing and strategy — never feel forced to accept before you are ready, but understand the consequences of letting a deadline pass.
Can I ask the seller to include furniture or personal items in the offer? ⌄
Yes — and it happens regularly in Greater Victoria, particularly for furnished vacation properties or when sellers are relocating internationally and prefer not to move furniture. Any personal property included in the purchase must be listed specifically in the contract as included items. Note that personal property can have GST implications depending on the situation — your lawyer and accountant can advise on this for high-value inclusions.
What is a "bully offer" and should I consider making one? ⌄
A bully offer — also called a pre-emptive offer — is an offer submitted before a seller’s scheduled offer review date, designed to force a decision before other buyers can compete. Sellers in BC are not obligated to accept or even review bully offers, but many do if the terms are compelling. Bully offers typically need to be significantly above expected market value, with minimal conditions and a very short irrevocability period. They are a legitimate strategy in heated markets, but carry risk — discuss the approach carefully with your Realtor before submitting one.
What clients say
Buyers who trusted Janine to negotiate on their behalf
★★★★★
“Janine works for you to achieve the best outcome. She is passionate about what she does. Above and beyond is what I experienced. If you want someone to truly represent you and understand your needs, she is simply the best in the area.”
— Troy Wilson, Victoria BC
★★★★★
“Janine was easy to work with and understood what our requirements were. She was highly dedicated and I would have no hesitation in recommending her. Her professionalism and interpersonal skills are second to none.”
Information on this page reflects BC real estate practices and legislation as of 2026. Real estate transactions are complex legal matters. Always work with a licensed BC REALTOR® and consult a real estate lawyer before signing any contract. Janine Thomson is a licensed REALTOR® with Pemberton Holmes, Victoria BC.
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