What Buyers Should Review Before Making an Offer

Confirm Your Financing Is Actually Ready

Before writing any offer, you want more than a general sense that you can afford the home. A current mortgage pre-approval, ideally confirmed with your lender or broker within the last few weeks, tells you what you can actually borrow and at what rate, and signals to a seller that your offer is credible. If your pre-approval is more than a couple of months old, or your financial situation has changed, it is worth a quick check-in with your lender before you offer.

For a full walkthrough of this step, see our companion guide, Mortgage Pre-Approval in 2026: A York Region Guide.

Review the Listing Data Line by Line

It is easy to skim a listing for photos and price, but the data fields matter just as much. Review the property taxes, lot dimensions, square footage source (MPAC versus builder plan versus appraisal), age of major systems, and any disclosed inclusions or exclusions. If anything is unclear or missing, that is worth a direct question to the listing agent before you offer, not after.

Check Recent Comparable Sales, Not Just the Asking Price

An asking price tells you what the seller wants, not what the home is actually worth in today's market. Before you decide on an offer amount, look at genuinely comparable recent sales in the immediate area, similar size, condition and lot, ideally within the last three to six months. This is one of the areas where a knowledgeable buyer's agent adds the most value, since public listing sites typically do not show sold prices with the same detail as MLS data.

Think Through Condition and Inspection Before You Write

Whether or not your offer includes a home inspection condition, it helps to walk the property with a critical eye before you write: look for signs of water damage, uneven floors, cracks in the foundation, the age of the roof, and any recent renovations that may not have been permitted. In a competitive market, some buyers waive inspection conditions, but that decision should be made with a clear understanding of the risk, not simply because it is common practice.

Extra Steps for Condos: The Status Certificate

If you are buying a condo, the status certificate is one of the most important documents in the entire transaction. It includes the condo corporation's financial statements, reserve fund study, current budget, any special assessments, and rules that apply to the unit. Reviewing this document, ideally with a lawyer, before your conditions expire can reveal financial or structural issues that are not visible from a showing.

For more on how condo ownership compares to freehold, see our guide, Condo vs. Freehold in York Region.

Which Conditions Actually Protect You

Common conditions in an Ontario purchase offer include financing, home inspection, status certificate review (for condos), and sometimes the sale of the buyer's current home. Each condition exists to give you a defined window to confirm something material before the deal becomes firm. Which conditions make sense for your specific offer depends on the property, the competitiveness of the market, and your personal risk tolerance, and is worth discussing directly rather than defaulting to a template.

Understand the Full Closing Cost Picture

The purchase price is only part of what you will need at closing. Land transfer tax, legal fees, title insurance, home inspection fees, and adjustments for prepaid property taxes or utilities all add up. Ontario also offers a land transfer tax rebate for eligible first-time buyers, which is worth confirming with your lawyer based on your specific situation.

This article is general educational information and does not replace advice from your lawyer, lender, home inspector or real estate agent on your specific transaction.

Jonathan Colford

Sales Representative, eXp Realty Brokerage | York Region Buyer Guidance