Making an offer is the moment everything gets real, and it is the part of buying a home that almost nobody explains properly. There is no lender guide for it and no government pamphlet, because it is not about the mortgage. It is a legal contract, and getting the terms right is the difference between winning the home on good terms and making an expensive mistake.

This is the full step-by-step for making an offer on a house in Ontario in 2026.

What is an offer in Ontario?

In Ontario, an offer to buy a home is a written contract called the Agreement of Purchase and Sale (APS), usually prepared on the standard OREA Form 100. It sets out everything about the deal: the price, the deposit, any conditions, the closing date, what is included, and a deadline (the irrevocable date) by which the seller must accept, reject, or counter.

An offer is not casual. Once it is accepted and any conditions are met, it is a legally binding contract to buy the home.

The 6 parts of an offer

Every offer comes down to six decisions. Get these right and you have a strong, clean offer.

The 6 key terms in an Ontario offer

  • Price. What it is: What you are offering to pay; Typical choice: Based on sold comparables
  • Deposit. What it is: Good-faith money delivered on acceptance; Typical choice: About 5% of the price
  • Conditions. What it is: Things that must be satisfied for the deal to firm up; Typical choice: Financing, inspection, status certificate
  • Closing date. What it is: When ownership transfers and you get keys; Typical choice: 30 to 90 days out
  • Inclusions. What it is: Appliances and fixtures included in the sale; Typical choice: Listed specifically
  • Irrevocable date. What it is: Deadline for the seller to respond; Typical choice: 24 hours or less in a fast market

Source: Zown Realty, Ontario 2026

How much deposit do you need?

The deposit is the money you put down with your offer to show you are serious. In Ontario it is typically about 5% of the purchase price, delivered by certified cheque or bank draft, usually within 24 hours of the seller accepting your offer. It is held in the listing brokerage's trust account and credited toward your down payment at closing, so it is not an extra cost, it is the first slice of your down payment.

A larger deposit can strengthen your offer in a competitive situation, because it signals commitment. But understand the trade-off: once the deal is firm, your deposit is at risk if you walk away without a valid reason.

5%

the typical deposit on an Ontario offer, delivered on acceptance and credited to your down payment

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