BCREA works with BC's eight real estate boards, lawyers and other industry experts to draft and update the standard forms that are the backbone of real estate transactions. We provide ongoing REALTOR ® education related to the forms so consumers can have full confidence in the profession. BCREA Standard Forms are available for REALTOR ® use.. The BC contract of purchase and sale is an official document that contains the main aspects of the agreement between seller and buyer during the real estate purchase. This form is crucial in British Columbia. It contains information on the price of the purchase, details on the deposit, and deadlines. It also informs both parties of their duties.
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UPDATE (January 11, 2021): An update has been made to this video at the 11 minute mark to provide greater clarity on acceptance of a Contract of Purchase and Sale concerning counter offers. All other aspects of this video remain unchanged. The British Columbia Real Estate Association (BCREA) has created a video for REALTORS® to share with their clients to help explain one of the key documents.. A contract of purchase and sale, also known as an agreement of purchase and sale or an offer to purchase, is the written contract that formalizes a real estate transaction in British Columbia. It is jointly published by the Canadian Bar Association BC Branch and the British Columbia Real Estate Association (BCREA) and serves as the standard.
