Writing my first offer on an investment property was one of the most anxiety-producing experiences of my early investing education. Not because the paperwork is complicated — it is not — but because nobody walked me through what each clause actually meant in practice. Here is the guide I wish I had.
The BC Contract of Purchase and Sale
In BC, offers are made on a standardised form called the Contract of Purchase and Sale. Your realtor fills it out, but you are signing it, so you need to understand what you are agreeing to. The key variables you control are the purchase price, the subject conditions, the subject removal date, and the deposit amount.
Subject Conditions: Your Escape Hatches
Subjects are conditions that must be satisfied before the deal becomes firm. The three standard ones for an investment purchase are:
Subject to financing. You have until the subject removal date to get written confirmation from your lender that they will fund the mortgage. If you cannot secure financing, you can walk away and your deposit is returned in full.
Subject to inspection. You hire a home inspector — budget $500 to $700 in Kamloops — and if the report reveals something unacceptable, you can withdraw. In practice, most deals survive inspection. What you are screening for is major structural issues, old knob-and-wiring, significant moisture damage, or a furnace that is months from failure.
Subject to title review. Your lawyer or notary reviews the property title to confirm there are no liens, easements, or encumbrances that would affect your use or ability to finance. This is non-negotiable — always include it.
The Deposit
In BC, the deposit is typically 5% of the purchase price, delivered within 24 hours of subject removal (when the deal goes firm). On a $600,000 property, that is $30,000, held in trust by the listing brokerage.
Here is the part most first-time buyers do not understand: the deposit is at risk if you back out after removing subjects. If you go firm — meaning you sign subject removal — and then change your mind, the seller can pursue the deposit and potentially further damages. This is why subject removal is the real moment of commitment, not the initial offer.
If you walk away during the subject period for a legitimate reason (financing fell through, inspection revealed a major defect), your deposit is returned. No penalty.
Firm Offers: When and Why
A firm offer has no subject conditions. In a hot market, some sellers will not look at a subject offer if they have a competing firm offer on the table. The risk is obvious: if your financing falls through after going firm, you are exposed.
In the Kamloops sub-$700K market, this situation comes up but it is not the norm. Most sellers in that range will accept a standard subject offer, especially if the price is strong. I went firm on a property once — it was a townhouse with a lot of competition — and I would not do it again without doing significant pre-inspection due diligence first.
The Subject Period: Use It Properly
The typical subject period in Kamloops is 5 to 7 business days. That is enough time to book an inspection, submit your mortgage application, and have your lawyer pull title. Do not pad the timeline unnecessarily — it can make your offer less attractive — but do not compress it so tightly that you cannot actually complete your due diligence.
One thing I learned the hard way: line up your inspector before your offer is accepted. Good inspectors in Kamloops book out. If you write an offer on Thursday with a 5-day subject period and you have not called an inspector yet, you may end up scrambling.
What Happens if the Deal Falls Through
If you withdraw during the subject period for a valid reason, the process is straightforward: you sign a mutual release, the brokerage releases the deposit back to you, and the seller relists. It takes a few days and there is no financial loss to you.
If the deal collapses for an unusual reason — say, a title issue the seller was not aware of — the process is the same. The contract includes provisions for these scenarios.
Competing Offers in the Kamloops Market
In the current market (see my June 2026 market update), sub-$700K properties are seeing one to two competing offers, not the five to ten that Vancouver buyers deal with. That is a meaningful difference. It means subjects are still being accepted and you rarely need to waive inspection to win a deal.
My approach: write a clean offer with standard subjects, a competitive price based on recent comparables, and a short subject period. Save the aggression for price, not conditions.
One More Thing
Get a pre-approval, not just a pre-qualification, before you write an offer. A pre-qualification is a quick estimate based on self-reported income. A pre-approval means the lender has actually verified your documents. In a subject-to-financing situation, the pre-approval dramatically reduces the risk that your financing falls through during the subject period.