Can a Realtor tell you what other offers are Ontario?
In Ontario, the seller’s real estate broker or salesperson is required to disclose the number of competing offers to all buyers who have submitted a written offer. However, the terms and conditions of each offer are confidential to the seller and their broker or salesperson.
Do real estate agents lie about offers?
Although they shouldn’t, estate agents can and do lie about offers to make it look to you as a seller that they’re creating lots of interest in your property. An estate agent may also lie about offers so they can push you in the direction of a specific REAL offer, so they can get their hands on their commission ASAP.
Can Realtors lie about offers Canada?
Currently, if there are multiple bids on a home, the seller’s broker can only disclose the number of competing offers, but not the details of them. Through this method in a hot housing market, buyers often can blindly offer more than what they initially planned on spending in hopes of beating their competitor.
Do I have to accept a full price offer on my house in Ontario?
“Acceptance of the offer is not required. The listing agreement clearly contemplated payment of the commission upon presentation of an offer at the full asking price.” Sellers should think twice before refusing to pay their real estate agents for doing what they were hired to do.
Can a seller refuse a full price offer?
Home sellers are free to reject or counter even a contingency-free, full-price offer, and aren’t bound to any terms until they sign a written real estate purchase agreement.
Do sellers always take the highest offer?
When it comes to buying a house, the highest offer always gets the house — right? The answer is often “no.” Conventional wisdom might suggest that during negotiations, especially in a multiple-offer situation, the buyer who throws the most money at the seller will snag the house.
Can a seller decline a full-price offer?
Agreed-to and signed property purchase agreements between buyers and sellers are considered legal contracts. However, in California and most every other state property sellers can refuse even ‘clean’ full-price offers devoid of any buyer contingencies.
Do sellers ever accept first offer?
Real estate agents often suggest that sellers either accept the first offer or at least give it serious consideration. Real estate agents around the world generally go by the same mantra when discussing the first offer that a seller receives on their home: “The first offer is always your best offer.”
What do you need to know about real estate in Ontario?
Working closely with your real estate broker or salesperson will ensure that you understand the process. In Ontario, the seller’s real estate broker or salesperson is required to disclose the number of competing offers to all buyers who have submitted a written offer.
How do you bid on real estate in Ontario?
Sellers who are represented by real estate brokerages in Ontario take offers in a closed bidding situation, so you won’t know how much other buyers are offering, or any terms they’ve included in their offers. To make a bid, you would typically consult with your real estate representative to put together your best offer, and hope for the best.
When do you have to deposit for real estate in Ontario?
If your offer is accepted by the seller, generally your real estate deposit in Ontario is due within 24 hours unless otherwise stated. This is why, when you seriously start searching for properties, it’s important to have your deposit funds readily available.
What do I need to make an offer on a house in Canada?
In order to be valid, your offer documents much include some specific details, according to Canada Mortgage and Housing Corp.: your legal name, the name of the seller and the address of the property the amount you’re offering to pay (the purchase price) and the amount of your deposit