Posted by Maryann Quenet on Friday, August 22nd, 2025 11:40am.
Two offers land on your listing the same evening. One is the highest price on paper, but contains a financing condition, a long inspection window, and a modest deposit. The other is slightly lower, firm, and closes on your ideal date. Which one actually gets you to the finish line with the least risk, the fewest surprises, and the strongest net? This guide breaks down how GTA sellers can read between the lines, separate signal from noise, and pick the offer that truly serves their goals.
A compelling offer is more than a big number. Focus on what lands in your account on closing: price, minus any credits or concessions, and measured against certainty of closing. In Ontario, the Agreement of Purchase and Sale (APS) includes an irrevocability clause—your window to accept before the offer expires. If you do not accept within that window, the offer dies and the buyer’s deposit is returned. Understanding this timing helps you compare competing offers apples-to-apples, and prevents you from losing leverage by missing deadlines.
Ontario’s APS makes the offer binding on the party that signed it until the specified irrevocable date and time, giving the other side a clear window to accept, reject, or counter. Once the irrevocable period passes without acceptance, the offer becomes null and void. Being organized around these clocks helps you keep momentum—especially on multiple-offer nights.
The deposit signals commitment and gives you recourse if the buyer defaults. In Ontario, deposits are typically due within 24 hours of acceptance, unless otherwise specified, and are commonly held in a real estate brokerage trust account. Those trust accounts are regulated, and consumer deposit insurance adds an additional layer of protection when you are working with a registered brokerage.
How much is “strong”? Market customs vary, but in practice many GTA deals see deposits in the ~3%–5% range of the purchase price, with higher deposits often viewed as more compelling. The exact number is negotiable; what matters is that it be meaningful, paid on time, and held appropriately in trust.
A firm offer (no financing condition) removes a major uncertainty, but you should still understand lender steps that occur after acceptance. Lenders, or mortgage insurers, may require an appraisal or other validation. If an appraisal comes in lower than the purchase price, buyers may need to increase their down payment, renegotiate, or rely on any financing condition to walk away. This “appraisal gap” is why higher prices paired with weak financing sometimes fail to close.
If the offer includes a financing condition, watch the timeline. In Canada, five to ten business days is a common range for buyers to obtain full approval, though this varies by file and market conditions. Shorter, clearly defined timelines reduce your risk and keep your listing’s momentum.
Conditions are not “bad,” but each adds risk and delay. Know what you are trading.
Gives the buyer time to secure lender approval. Keep the window tight, and ensure the deposit timing does not drift. If a competing offer is firm, weigh your risk tolerance against any price gap.
Reasonable in many contexts, but a long inspection window can reopen negotiations. If you did a pre-listing inspection, share it—this can shorten or remove the buyer’s condition window.
In Ontario, condo corporations must provide status certificates within 10 days of request and may charge up to $100. This package includes essential financials, bylaws, and litigation details that buyers and their lawyers will review. If you expect a status review, plan your timelines accordingly.
This clause makes the purchase contingent on the buyer selling their current home. It is useful for buyers, but riskier for you. If you consider it, pair it with a well-crafted escape clause so you can keep marketing the home and, if a stronger offer appears, give the first buyer a defined period (often 24–48 hours) to go firm or step aside.
Under Ontario’s updated framework (TRESA), sellers can opt into an open offer process, instructing their brokerage on what offer details (if any) to share with competing buyers. Regardless of whether you choose open or traditional “closed” presentations, buyers who have submitted an offer are entitled to know the number of competing offers. Used strategically, calibrated transparency can increase buyer confidence without compromising your leverage.
If you set a delayed offer date, your listing brokerage must plan for, and explain, how any pre-emptive (bully) offers will be handled. Good process protects you from confusion, missed opportunities, and complaint risk—and lets serious buyers participate fairly.
The “best” date is the one that aligns with your next move and financing. A clean match can be worth more than a small price bump, because it avoids bridge loans, storage, and extra stress. (Your lawyer and mortgage professional can help you quantify trade-offs.)
In Ontario, fixtures generally stay with the property unless excluded, and chattels are moveable items that go unless specifically included. Because grey areas lead to disputes, itemize anything that could be ambiguous—window coverings, wall-mounted TVs and brackets, EV chargers, smart thermostats, outdoor play structures, and specialty lighting. Clear lists keep deals calm.
After acceptance, buyers’ lenders may order an appraisal or insurer review; appraisers use comparable sales, condition, and market trends to determine lending value. If valuation falls short, your options typically include negotiating the price, granting time for the buyer to source additional funds, or relying on the contract as written if the offer is firm. Expect requests for access for appraisal and final walkthroughs—your agent will coordinate timing to minimise disruption.
Use a simple, weighted rubric with your agent:
Net proceeds after realistic adjustments (weight high).
Deposit size and timing (“upon acceptance” with a strong amount is best).
Financing strength (firm vs conditional, documentation, lender reputation).
Condition risk (type, clarity, and duration).
The closing date fits with your logistics.
Paperwork clarity (clean schedules, specific inclusions/exclusions, no contradictions).
Make your agent provide a one-page summary with their recommendation and the reasoning behind it. This brings discipline to fast decisions and makes trade-offs explicit.
Trade time for certainty: If a buyer needs a financing window, counter with a larger deposit “upon acceptance” and a shorter condition period.
Optimise the closing date: If price is close, push for your ideal date, or a rent-back where appropriate and lawful, to avoid bridge costs.
Clarify the grey: Replace vague language with specifics—brand/model for appliances, serials, if practical, and explicit fixture/chattel lists.
Set process early: If you are holding offers, publish clear instructions, and decide in advance how pre-emptives will be managed. This keeps you compliant and maximises participation.
Consider an open-offer tactic: When appropriate, your brokerage can disclose selected offer details (never personal identifiers) to increase competitive tension and reduce “blind bidding” anxiety—only if you instruct them to do so.
Deposit delivery: Confirm funds arrive in the designated trust account on time; your brokerage must handle trust accounts per regulation, and consumer deposit insurance provides added protection when you are working with a registrant.
Condition period (if any): Your agent keeps tight communication, tracks deadlines, and manages any amendments.
Lender and insurer steps: Expect appraisal or other checks; cooperate with reasonable access requests.
Lawyer’s prep and closing: Your lawyer handles statements of adjustments, title transfer, and keys/funds exchange on closing day.
Do I know my realistic net on each offer?
Is the deposit meaningful, due “upon acceptance,” and held in a regulated trust?
Are conditions specific and short, with status-certificate timing understood for condos?
Does the closing date fit my next move?
Are fixtures/chattels documented to avoid disputes?
Have we planned for bully offers and decided whether to use an open-offer approach?
Is the irrevocable time workable for both sides, so we do not lose momentum?
Choosing the right offer is a mix of price, certainty, timing, and clean paperwork. You do not have to weigh those trade-offs alone.
Meet The Johnson Team — Toronto Real Estate
The Johnson Team is a renowned name in the local real estate market, known for their strong reputation, unparalleled market knowledge, and creative marketing strategies. Led by Jeff and Liz Johnson, our top-performing GTA team prioritises service, transparency, and results—earning repeat and referral business across the region. We stay on top of market conditions, government regulations, and upcoming developments, so you can focus on your move.
How we help sellers win
Pricing strategy grounded in current comps and buyer behaviour
Listing prep, staging advice, and high-impact marketing
Offer-night playbooks, including open-offer options, bully-offer management, and clean paperwork execution
Negotiation focused on your net, your timeline, and your risk tolerance
Thinking about selling? If you want a clear, data-driven plan to maximise your sale price and minimise risk, let’s talk. To start working with an agent right away, please contact The Johnson Team.