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 used in a real estate transaction: the Contract of Purchase and Sale (CPS). Central to any transaction, the CPS outlines the terms and conditions on which a transaction takes place.
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 used in a real estate transaction: the Contract of Purchase and Sale (CPS). Central to any transaction, the CPS outlines the terms and conditions on which a transaction takes place.