Property Disclosure Statement (British Columbia-specific)
Understand how the Property Disclosure Statement works in British Columbia, what sellers must reveal, and why it’s important for buyers.
May 22, 2025
What is a Property Disclosure Statement (PDS)?
A Property Disclosure Statement (PDS) in British Columbia is a legal document completed by the seller to disclose known issues or defects with the property being sold.
Why Do Property Disclosure Statements Matter in Real Estate
The PDS is a crucial part of many real estate transactions in B.C., offering transparency to buyers and legal protection to sellers. While not always mandatory, it is commonly included in offers to purchase.
The form asks sellers to disclose issues related to:
- Structural problems
- Past water damage or flooding
- Roof or plumbing defects
- Unauthorized renovations
- Environmental concerns (e.g., oil tanks, asbestos)
If a seller knowingly omits a defect, they may be liable for damages—even after the sale. For buyers, the PDS serves as an early warning system and can inform decisions on whether to proceed or request further inspections.
Understanding the PDS helps buyers make informed offers and protects sellers by providing a record of what was disclosed at the time of sale.
Example of a Property Disclosure Statement in Action
A seller in Kelowna fills out a Property Disclosure Statement and reveals a prior plumbing leak in the basement that was repaired in 2022.
Key Takeaways
- Used primarily in B.C. real estate.
- Outlines known property defects.
- Protects both buyer and seller.
- Can be legally binding if included in offer.
- Encourages full transparency in transactions.
Related Terms
- Seller Disclosure Statement
- Home Inspection
- As-Is Sale
- Material Latent Defect
- Real Estate Law
6525 Mississauga Road and its surrounding context. (RBC Capital Markets & CBRE)
Property details for 6525 Mississauga Road. (RBC Capital Markets & CBRE)
National average resale-price growth and housing-starts growth, smoothed over three months. The comparison illustrates the cycle; it does not establish how much a price change causes construction to change.
Trailing 12-month starts in centres of 50,000 or more remove the usual monthly seasonality. Ownership combines the homeowner and condominium categories; rental is shown separately.
Six-month averages of provincial starts, expressed at annual rates. The smoothing reduces the influence of individual apartment projects.
The same August benchmark compared with two different starting points. Three-month changes are not annualized.
Average sale prices show the difference in purchase costs across markets. They do not measure affordability relative to local incomes or construction costs.
Newfoundland and Labrador remains above its pre-pandemic sales pattern, but August activity was below last year. Historical lines retain their original release vintages.
Average and median describe different aspects of the same month’s transactions. Both are affected by the mix of homes sold.
Category averages compare different homes and locations; the gaps are not estimates of the cost to upgrade an otherwise identical property.
The five categories shown account for 5,000 of the board’s 5,057 sales. The remaining 57 transactions were in other housing categories.
Monthly observations are not seasonally adjusted. Active listings count properties available at month-end; they are not construction inventory.
Average and median prices share one dollar axis. These unadjusted transaction measures do not control for changes in the homes sold.
TRREB’s 416/905 categories compare the apartments sold in each area. The difference does not isolate a location premium for equivalent units.
5680 Oak Street in Vancouver and its surrounding context. (MCMP Architects)
Ground-level renderings of the tower proposed for 5680 Oak Street in Vancouver. (MCMP Architects)