How to Make an Offer on a House in Ontario (Step-by-Step)

Conditions: which ones you actually need

Conditions are clauses that must be satisfied for the deal to become firm. They protect you. If a condition is not met and you cannot waive it, you can walk away and get your deposit back. The three most common:

1. Financing condition. Gives you a few business days to confirm your mortgage. Protects you from being locked in if financing falls through.
2. Home inspection condition. Lets you inspect the home and walk away, or renegotiate, if there are serious problems.
3. Status certificate condition (condos). For a condo, lets your lawyer review the status certificate, which shows the fees, reserve fund, and any issues. See condo fees explained.

Here is the hard reality of competitive markets: in a bidding war, sellers often accept only firm offers, meaning offers with no conditions. Waiving conditions makes your offer stronger, but it removes your safety net. Never waive a condition without understanding exactly what you are giving up, and without doing that homework in advance instead.

Firm offer versus conditional offer

Firm offer versus conditional offer

• Has escape clauses. Conditional offer: Yes; Firm offer: No
• Deposit protected if a condition fails. Conditional offer: Yes; Firm offer: Not applicable
• Competitive strength. Conditional offer: Lower; Firm offer: Higher
• Risk to buyer. Conditional offer: Lower; Firm offer: Higher
• Best when. Conditional offer: Normal market, due diligence pending; Firm offer: Bidding war, homework done in advance

Source: Zown Realty, Ontario 2026

The safest way to compete with a firm offer is to do the due diligence before you offer: get fully pre-qualified, review the status certificate in advance, and where possible arrange a pre-offer inspection. That way you get the strength of a firm offer without flying blind.

Step by step: making the offer

1. Get pre-qualified first. Know your budget and have it confirmed, so your offer is credible and your financing is not a guess.
2. Study the comparables. Look at what similar homes actually sold for, not asked. This sets your price.
3. Decide your terms. Price, deposit, conditions, closing date, and inclusions, with your agent.
4. Sign the Agreement of Purchase and Sale. Your agent prepares Form 100 with your terms.
5. Submit before the irrevocable deadline. The seller accepts, rejects, or counters.
6. Negotiate. Counters go back and forth on price and terms until you agree or walk.
7. Satisfy conditions. Complete financing, inspection, and any reviews within the condition period.
8. Firm up. Once conditions are waived or met, the deal is binding, and you are on the way to closing.

What happens after your offer is accepted?

Acceptance is not the finish line. If your offer had conditions, you now work through them within the agreed period. Once they are all met or waived, the deal becomes firm. From there your lawyer handles the title search and closing, your lender finalizes the mortgage, and on the closing date, ownership transfers and you get the keys. Closing is typically 30 to 90 days after acceptance.

Having a salaried agent who negotiates on your behalf, and who has no incentive to just close the deal fast, matters most in exactly these moments.

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Frequently asked questions

How do you make an offer on a house in Ontario?

You make a written offer using the Agreement of Purchase and Sale (usually OREA Form 100), setting the price, deposit, conditions, closing date, and inclusions, with an irrevocable deadline for the seller. Your agent prepares and submits it. Once accepted and any conditions are met, it becomes a binding contract.

How much deposit do I need to make an offer?

Typically about 5% of the purchase price, delivered by certified cheque or bank draft within about 24 hours of acceptance. It is held in trust and credited toward your down payment at closing, so it is part of your down payment rather than an extra cost.

Can I make an offer with conditions in a bidding war?

You can, but conditional offers are usually weaker than firm ones, and in competitive situations sellers often choose firm offers. The safer way to compete is to do your due diligence (pre-qualification, status certificate, inspection) before offering, so you can go firm with confidence.

What happens if I back out after my offer is accepted?

If the offer is firm, or all conditions are met, it is binding. Backing out without a valid reason can mean losing your deposit and potential further liability. If a condition is not satisfied and you cannot waive it, you can usually walk away and recover your deposit.

Is an accepted offer legally binding in Ontario?

Yes. Once the seller accepts and any conditions are satisfied or waived, the Agreement of Purchase and Sale is a legally binding contract. That is why the terms, deposit, and conditions all need to be right before you sign.

Last updated July 27, 2026. General information, not legal advice. A real estate lawyer and your agent should review your specific agreement.