Negotiating the offer

Terms, not just price

The Toronto Agreement of Purchase and Sale is built from the price, the deposit, the closing date, the conditions, the chattels and fixtures, the irrevocable timing, and any custom clauses. Every single line in this document is a negotiation lever. Our team guides you through how these elements work together to form a winning agreement.

Price

This is the top-line number on the offer. It comes from the comparable sales, the competing-offer environment, and what you can comfortably afford. Most of the negotiation naturally focuses right here, but price is rarely the only lever moved during a back-and-forth discussion.

Deposit

The deposit demonstrates your seriousness to the seller. A higher deposit signals a stronger, more secure offer. Sellers typically prefer at least 5% of the purchase price on a Toronto home. This amount is paid by certified cheque or wire transfer, and is due 24 hours after acceptance directly to the listing brokerage trust account.

Closing date

Sellers often have a specific closing date in mind that perfectly aligns with their next purchase. Matching this date exactly is a free concession that can often win the deal, even if you are matched at the exact same price as a competing buyer.

Conditions for financing and inspection

A five-business-day financing condition is standard in a balanced market. It removes the contract entirely if your lender does not approve the mortgage. An inspection condition also typically runs five business days, allowing for a walk-through with a licensed inspector. Pre-inspections are increasingly common in the Toronto core when offers are competitive — completing the inspection beforehand replaces the need for this condition on the actual offer.

Status certificate for condos

For condo purchases, a condition for review of the status certificate usually runs 5 to 10 business days. Your lawyer and a member of our team walk through the financial health of the condo corporation — looking closely at the reserve fund, the reserve study, any special assessments, pending lawsuits, and the by-laws. This detailed document is exactly where quiet condo deals break.

Chattels and fixtures

Chattels are movable items like appliances and the washer-dryer — these must be negotiated specifically in the offer. Fixtures are built-in items like light fixtures and window blinds, which are presumed to be included unless they are explicitly excluded. We make sure to be explicit about the hot-water tank rental, the water softener, and the security system so there are no surprises.

Irrevocable timing

This dictates exactly how long the offer remains open for the seller to accept. The standard timeframe is 24 hours. More aggressive offers will sometimes go down to four or six hours, especially in a fast-moving bully situation. We time this carefully to limit the seller’s ability to shop your bid.

Schedule A custom clauses

This section holds the custom terms — things like pre-closing inspection rights, escrow holdbacks for required repairs, or short-term rent-backs to the seller. This blank page is where creative deal-making lives, allowing our team to structure an agreement that protects your interests completely.