Updated September 2026
Once you find the right home, it's tempting to write an offer on the spot. A few questions first will help you offer the right amount, on the right terms, without overpaying or losing the home over something avoidable.
1. What is the market doing right now?
When there are more homes for sale than buyers, sellers have to negotiate and you may be able to offer below the asking price. When homes are scarce, you may face competing offers and need to be at or above asking. Ask your agent for recent local numbers, such as how many homes are for sale in the area and how quickly they're selling.
2. What have comparable homes sold for?
The asking price is the seller's opinion. Recent sales of similar homes nearby tell you what buyers have actually paid. Your agent can pull these from the MLS® System and walk you through them, much like a comparative market analysis. Look at size, lot, condition, location and the date of each sale.
3. How long has it been for sale, and has the price changed?
A home that has been listed for weeks, or has had its price reduced, may leave room to negotiate. A home listed a few days ago with an offer date is likely priced to attract several buyers. Your agent can also check whether it was listed before and taken off the market.
4. Is there an offer date?
Many sellers hold offers until a set date so every interested buyer can see the home. If so, you'll need to be ready by that date, and you may be competing with other buyers. Under Ontario's rules, anyone who submits a written offer is told how many competing offers there are. Our guide to how sellers respond to offers explains how offer nights work.
5. What condition is the home in?
A home that needs a new roof or furnace should be priced with that in mind. Decide whether you'll make your offer conditional on a home inspection or inspect before the offer date so you can offer firm. Our guide to inspection red flags covers what to watch for.
6. What can you really afford?
Your mortgage pre-approval sets the upper limit, but it isn't your budget. Add up your down payment, closing costs such as land transfer tax and legal fees, moving costs and a cushion for repairs. Decide your walk-away number before you start negotiating, not during.
7. What matters to you besides price?
Price is one part of an offer. The deposit, the closing date, the conditions you include and what stays with the home, such as appliances and light fixtures, can all make your offer stronger or weaker. Sometimes a flexible closing date matters more to a seller than a few thousand dollars.
Talk to us
We have helped buyers across York Region, Simcoe County and Durham since 1989. We'll help you answer each of these questions and write an offer that's right for you. Call us at (905) 830-9111.
