Offer ≠ price
Toronto agreement of purchase and sale (APS) is built from price, deposit, closing date, conditions, chattels + fixtures, irrevocable timing, and any custom clauses. Every line is a negotiation lever.
Price
The number on the offer. Comes from the comps + competing-offer environment + what you can afford. Most negotiation focuses here, but it is rarely the only lever moved.
Deposit
Demonstrates seriousness. Higher deposit = stronger offer. Sellers prefer 5%+ on a Toronto purchase. Cheque or wire, due 24 hours after acceptance to the listing brokerage trust.
Closing date
Sellers often have a specific closing date that aligns with their next purchase. Matching it is a free concession that can win the deal at the same price.
Conditions
Financing
5-business-days standard. Removes the contract if the lender does not approve. In multiple-offer scenarios, sometimes waived if you have a strong pre-approval + appraisal-buffer cash.
Inspection
5-business-days standard. Walk-through with a licensed inspector. Pre-inspections are increasingly common in Toronto core when offers are competitive — replaces this condition.
Status certificate (condos only)
5-10 business days for review. Lawyer + I walk through the financial health of the condo corporation: reserve fund, reserve study, special assessments, lawsuits, by-laws. This is where condo deals quietly break.
Chattels + fixtures
Chattels (movable: appliances, washer-dryer) are negotiated specifically. Fixtures (built-in: light fixtures, blinds) are presumed included unless excluded. Be explicit about hot-water tank rental, water softener, security system.
Irrevocable
How long the offer is open for the seller to accept. Standard 24 hours; aggressive offers go 4-6 hours, especially in bully situations.
Schedule A clauses
Custom terms — pre-closing inspection rights, escrow holdbacks for repairs, rent-backs to seller. Where creative deal-making lives.
