Understanding the Contract of Purchase & Sale for Real Estate

Century 21 Horizon West's mission is to help educate you, the consumer to make better informed decisions when purchasing and selling real estate and help you understand the process. The British Columbia Real Estate Association (BCREA) has created the video below for REALTORS® to share with their clients to help explain one of the key documents used in a real estate transaction: the Contract of Purchase and Sale.

Central to any transaction, the Contract of Purchase & Sale outlines the terms and conditions on which a transaction takes place. This video will help introduce the Contract of Purchase & Sale, so that when consumers are ready to make or review an offer, they are familiar with the general content of the form.

The video provides essential information to help consumers understand the CPS, addressing many common questions they may have, including:

  • When does the process begin and when is the Contract of Purchase and Sale used?
  • What information is included in the Contract of Purchase and Sale?
  • What do the terms in the contract mean?
  • And many more
With this information, we hope the consumer will have a better understanding of the Contract of Purchase and Sale before signing it.