Before you make an offer, research the home the way an agent would: look at what similar homes actually sold for (not their asking prices), read the listing's price history and days on market, check the property's permit and renovation record, and for a condo, review the status certificate. Doing this homework is how you offer with confidence and avoid overpaying.
The asking price tells you what the seller hopes to get. It does not tell you what the home is worth. Good research closes that gap, and most of it can be done before you ever set foot inside.
What are sold comparables and why do they matter?
Sold comparables ("comps") are recently sold homes similar to the one you want, in the same area, of a similar size, age, and type. They are the single best guide to fair market value, because they show what real buyers actually paid, not what sellers listed for.
Ask for comps from the last 60 to 90 days, as close to the property as possible. Compare like with like: a detached home to a detached home, a two-bedroom condo to a two-bedroom condo. Adjust for differences such as an extra bathroom, a finished basement, a parking spot, or a better view.
Two homes on the same street can sell for very different amounts because of condition, layout, or timing. That is normal. What you are looking for is the range, so you know whether a list price is fair, a bargain, or a stretch.
the deposit you typically submit with an Ontario offer, held in trust and credited to your purchase at closing
How do I check a home's price history and days on market?
Price history shows every time a property has been listed, relisted, or had its price changed. Days on market (DOM) shows how long the current listing has been active.
These two numbers tell a story. A home that just came on the market and is priced near recent comps is usually holding firm. A home that has sat for weeks, or has been relisted at a lower price, often signals room to negotiate. A property that was listed, taken off the market, and relisted at a higher price can be a sign the seller is testing the market.
None of these signals is a rule. But together with comps, they help you decide how aggressive your offer can be and how much competition you might face.
What is the property's permit and renovation history?
Many homes have been renovated, finished, or added onto over the years. The question is whether that work was done with proper permits. Permits matter because unpermitted work can mean safety issues, insurance headaches, or costs to fix later.
If a listing advertises a finished basement, a new addition, a second unit, or major electrical or plumbing work, it is fair to ask whether permits were pulled and closed. Your agent can request this, and in many Ontario municipalities you can look up permit records through the local building department.
This is also where a home inspection earns its keep. Research tells you what to look for; the inspection confirms the condition.
What is a status certificate and do I need one for a condo?
If you are buying a condo, the status certificate is essential reading. It is a package the condo corporation provides that shows the building's financial health, the reserve fund, monthly fees, any planned fee increases or special assessments, rules, and whether there is any active litigation.
A healthy reserve fund and stable fees are good signs. A thin reserve fund, a looming special assessment, or ongoing legal disputes are reasons to slow down. Many condo offers are made conditional on a lawyer reviewing the status certificate, and that review is money well spent.
If condos are new to you, our guide to what condo fees actually cover walks through what those monthly payments pay for and why they change.
What neighbourhood factors should I research?
The home is only half the purchase; the location is the other half. Before you offer, look into the things that will shape daily life and future resale.
- Commute times and transit access at the hours you actually travel
- Schools, parks, and amenities that matter to your household
- Planned development nearby (a new build, road, or transit line can help or hurt)
- Noise, traffic, and how the street feels at different times of day
- Flood or environmental considerations for the specific lot
Walk or drive the area on a weekday evening and a weekend. Listings and photos flatten a neighbourhood; being there tells you the truth.
Your pre-offer research checklist and where to find it
- Sold comparables (recent nearby sales). Where to find it: Your brokerage's MLS data, via your agent
- Price history and days on market. Where to find it: Listing details and MLS history, via your agent
- Permit and renovation records. Where to find it: Local municipal building department
- Status certificate (condos). Where to find it: The condo corporation, reviewed by your lawyer
- Property condition. Where to find it: A licensed home inspector
- Neighbourhood and development plans. Where to find it: Municipal planning info and in-person visits
Source: Zown Realty, Ontario 2026
How does a brokerage's data help you offer with confidence?
Most of the research above runs on data that a brokerage sees clearly: full sold prices, complete listing histories, and how homes in a pocket are actually trading. That is the difference between guessing from public asking prices and knowing what buyers are really paying.
At Zown, our agents are salaried, not paid on commission. So when we pull comps and read the signals for you, the advice is about getting you a fair deal, not closing a bigger sale. We help you interpret the numbers, spot the risks, and decide on a price and conditions that protect you.
When you are ready to write it up, our guide to how to make an offer in Ontario covers the Agreement of Purchase and Sale, deposits, and conditions step by step.
See what your Down Payment Boost adds up to →
If you are still early in the process, start with the basics in our first-time home buyer guide for Ontario, then come back here when you have a specific home in your sights.
Reviewed by Arjun Dhawan, Head of Account Management and REALTOR® at Zown Realty Inc. Last updated July 16, 2026. General information, not legal or financial advice.
