How long is an offer valid in Ontario?

How long is an offer valid in Ontario?

How Long Is an Offer Valid in Ontario? The Straight Answer That Can Save You Thousands

The short, direct answer

An offer in Ontario is valid for the time you put on it. If you set an expiry or "irrevocable" time, that controls. If you don’t include a time, the law treats it as open for a "reasonable" time — which is vague and risky. In practice, sellers and buyers use clear expiry times (usually 24–72 hours) so nobody gets surprised.

What actually matters: terms, acceptance, and communication

• Offer terms: The contract language controls. Always state an exact expiry date and time (including time zone).
• Acceptance: An offer is only binding once the seller communicates acceptance to the buyer before the expiry. Electronic signatures and emails count when the acceptance is received.
• Revocation: The offeror can revoke before acceptance, unless an irrevocable clause with consideration exists.

Common real-world timeframes in Ontario

• Standard irrevocable windows: 24–72 hours. This is the norm for residential listings. Short windows (8–12 hours) happen in hot markets. Longer windows (several days) are used when financing or inspections are involved.
• Condition deadlines: When an offer is "subject to" financing, inspection, or sale of another property, set clear condition deadlines (e.g., 48 hours). If you miss them, the offer can lapse.

Key legal points you must know

• Reasonable time: If you omit an expiry, a court decides what’s reasonable. That’s unpredictable and costly.
• Communication rule: Acceptance must be communicated to you. The seller can’t accept in secret and then claim the buyer knew.
• Time is of the essence: If included, missing a deadline can let the other side terminate the deal immediately.

Smart negotiation moves that win deals

• Put a clear expiry and make it short enough to create urgency but long enough for your lawyer and lender to respond. 24–48 hours is a practical sweet spot.
• Use conditional deadlines tied to specific dates and times, not vague phrases like "ASAP."
• Ask for immediate communication method: email and direct phone call. Insist the seller initial the acceptance page and return a signed copy.

Why this matters — money and leverage

Time controls leverage. A short irrevocable period forces quick decisions. A long window reduces pressure and can invite competing offers. Mistakes on timing cost deposits, negotiation leverage, and closing certainty.

Final, actionable checklist

• Always put a precise expiry date and time (include time zone).
• Set condition deadlines (finance, inspection) with exact timestamps.
• Require signed acceptance and immediate communication method.
• If unsure, call a top local negotiator.

For expert negotiation and airtight offers in Ontario, contact Tony Sousa — local realtor with deep market experience. Email: [email protected] | Call: 416-477-2620 | https://www.zoozaa.com