Ontario real estate decision centre
No hidden menus and no article maze. Choose your situation and get a practical route through the mortgage, property and professional questions that matter now.
Explore directly
Every choice opens practical AskRajiv guidance.
Published Ontario guides
Search every published guide or narrow the library by content type.
Answer
The closing date must work for the buyer’s mortgage, sale proceeds, lawyer, movers and possession plan. A date chosen only to please the seller can create bridge-financing costs, temporary housing, rate-hold expiry or a funding deadline that cannot be met. Check the calendar and the money before offering.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
Read the practical answer →Answer
A sale-of-property condition can protect a buyer who needs proceeds or qualification from an existing home, but the seller may negotiate an escape clause allowing continued marketing. If another acceptable offer arrives, the buyer may receive limited time to remove the condition or lose the purchase. The exact wording controls.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
Read the practical answer →Answer
Only when the buyer understands and can financially absorb the specific risks being removed. A cleaner offer may be more attractive, but waiving financing, appraisal, inspection or condo-document protection can transfer a large unknown cost to the buyer. Winning is not useful if the buyer cannot close safely.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
Read the practical answer →Answer
The irrevocable period is the time during which the party making the offer promises to keep it open. It affects when the other side can accept and when the offer expires. Do not choose the time mechanically; it should allow proper delivery and review without leaving the buyer unnecessarily exposed.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
Read the practical answer →Answer
The deposit shows commitment and becomes part of the purchase funds, but it is not a casual reservation payment. Confirm the amount, payee, delivery deadline, acceptable transfer method and source of funds before submitting the offer. If the buyer defaults, the deposit may be exposed and losses may exceed it.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
Read the practical answer →Answer
The condition gives the buyer’s lawyer time to review the unit and condominium corporation, including fees, arrears, reserve funding, insurance, governing documents, special assessments and litigation. The suite can look perfect while the corporation creates a financial or lifestyle problem.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
Read the practical answer →Answer
Waiving inspection removes a major opportunity to investigate visible condition and major systems before the deal becomes firm. A clean-looking home can still have roof, moisture, electrical, plumbing, structural or equipment problems. If you remove the condition, price and reserves should reflect what you could not verify.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
Read the practical answer →Answer
The buyer normally remains responsible for the agreed purchase price even if the lender supports a lower value. The lender may reduce the mortgage, so the buyer needs more verified cash or another acceptable financing structure. A low appraisal does not automatically reopen the signed price.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
Read the practical answer →Answer
A pre-approval reviews the borrower in principle; it does not necessarily approve the property, appraisal, purchase documents or current file at funding. A financing condition gives the buyer time to obtain property-specific lender acceptance and understand every remaining condition before becoming firm.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
Read the practical answer →Answer
Pause when you are rushed to sign, receive blank sections, hear that terms cannot be changed, cannot get a copy, are promised verbal exceptions, are discouraged from legal or financing advice, or are not told how commission, termination, holdover and conflicts work. Good representation can withstand informed questions.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
Read the practical answer →