The biggest offer mistake Ontario buyers make
Most buyers think an offer is a price. It isn’t. It’s a contract with seven moving parts — price, deposit, conditions, closing date, chattels, irrevocable, and schedule attachments — and any of them can be the difference between winning and losing.
Here’s the how to make an offer on an Ontario home playbook I use for 2026, including when a Letter of Intent beats a full offer.
The anatomy of an Ontario offer (OREA Form 100)
Price
Anchored to sold comparables from the last 90 days, adjusted for your home’s condition relative to those comps. Never to list price (which is the seller’s wish, not the market’s verdict).
Deposit
Typically 5% of purchase price, delivered to the listing brokerage within 24 hours of acceptance via bank draft or certified cheque. A larger deposit (10%+) signals strength in multiple-offer situations.
Conditions
Financing (5-10 business days), inspection (5 business days), status certificate (5-10 business days, condos only), lawyer review (3-5 business days, optional), sale of buyer’s home (if applicable).
Closing date
30-90 days standard. Match the seller’s needs where possible — a closing date that fits their next move is often worth $10K-$20K of pricing power.
Chattels and fixtures
List everything you want included: appliances, light fixtures, window coverings, garage door opener, lawn tractor. “As viewed at the showing” is too vague — itemize.
Irrevocable date
The deadline by which the seller must respond. Short (12-24 hours) for urgency, longer (48-72 hours) for relationship-building.
Schedule attachments
Schedule A: any custom clauses. Schedule B: chattels and fixtures list. Schedule C: condo-specific items if applicable.
When a Letter of Intent (LOI) beats a full offer
An LOI is a non-binding outline of major deal terms. Used in commercial transactions all the time, increasingly useful in residential when:
- The property is off-market and you want to negotiate price before drafting a full APS
- The seller wants to test interest before going live on MLS
- The transaction is complex (multiple properties, assumed mortgage, vendor take-back)
LOIs are 1-2 pages, signed by both parties, and convert into a full APS within 7-14 days. Useful, underused, and worth raising with your agent.
The 3 levers beyond price that win deals
1. Closing date flexibility
If the seller is selling to buy and their next purchase closes June 15, offering a June 15 closing date often wins over a higher offer with a July 30 close. Ask the listing agent what works.
2. Deposit size and timing
A 10% deposit delivered within 12 hours instead of 5% within 24 hours signals serious financial capacity. In multiple offers, this signal often beats $10-20K of price.
3. Firm vs conditional
A firm offer (no conditions) with pre-inspection and underwritten financing beats a conditional offer at the same price almost every time. The seller knows the deal won’t collapse.
The 4 offer mistakes that lose Ontario deals
- Bidding round numbers. $1,250,000 loses to $1,251,000 in multiple offers — and the agent who wrote the round number looks lazy.
- Long irrevocable. 72-hour irrevocable on a hot property tells the seller to wait for other offers.
- Vague chattels. “All appliances included” creates fights when the seller takes the new fridge and leaves the old one.
- No pre-approval attached. Listing agents will steer their seller to offers with pre-approvals attached — yours isn’t, you’re at the back of the line.
The Bottom Line for Ontario Buyers in 2026
The strongest offer isn’t always the highest. It’s the one that gives the seller the most certainty about closing successfully and on their preferred timeline.
Get the price right with sold-comp analysis. Get the conditions right with pre-inspection and underwritten financing. Get the terms right by asking what the seller actually needs.
Use Your Offer Strategy for the full playbook, and read the fair offer strategy breakdown for the negotiation framework.
Every offer I draft for RE/MAX Your Community Realty, Brokerage clients starts with real MLS sold comparables from Repliers — so the price is grounded and the strategy is sound.
About to bid on an Ontario home? Get a free range and offer-strategy check → instantcalculator.ca/home-value/
— Alex Goodman, Sales Representative, RE/MAX Your Community Realty, Brokerage
