Should I accept the first offer?
“Should I accept the first offer?” — Don’t jump. Do this instead.
Why this matters if you’re selling in Milton, Ontario
You listed your Milton home. You get an offer on day 3. Your heart races. Do you sign? The wrong move costs tens of thousands. The right move locks in profit, time, and peace.
This guide gives Milton home sellers a clear, no-fluff decision plan for offers and negotiation. Use it to decide fast, avoid costly mistakes, and take control of the sale.
Start here: the three most important questions
Before you accept or counter, answer these fast:
- Is the offer strong on price?
- Is the buyer qualified and ready?
- Are the terms acceptable (closing date, conditions, deposit)?
If the answer to all three is YES, you can seriously consider accepting the first offer. If any answer is NO, you should negotiate.
What a “strong” offer looks like in Milton
A strong offer typically has:
- A price at or above your bottom line.
- A sizable deposit (shows commitment).
- Few or no conditional clauses (short inspection, firm financing or solid pre-approval).
- A closing date that fits your plan.
- A qualified buyer: pre-approval, mortgage broker or cash.
Local note: Milton’s market swings. When inventory is low and demand is high, strong first offers are common. When inventory grows, buyers get picky. Your agent should know which phase Milton is in the week your house is listed.
When you should accept the first offer (real scenarios)
Accept when one or more of these are true:
- The offer meets or exceeds your minimum net number after fees and taxes.
- Buyer is cash or fully underwritten pre-approved — very low financing risk.
- The deposit is strong and non-refundable after conditions are removed.
- Market data: similar homes are selling fast and above asking in your neighbourhood (Derry, Campbellville, downtown Milton, or the Escarpment areas).
- You need speed: relocation, probate, or you’re buying another home with a tight closing window.
Example: You asked $800,000, net after fees you need $755,000. Buyer offers $810,000, 10% deposit, minimal conditions, closing in 30 days. Accept. That’s a clean win.
When you should NOT accept the first offer
Say NO when any of these apply:
- The price is below your minimum net and you expect better interest from buyers.
- Buyer is weak: conditional on selling another home with no timeline or has poor mortgage pre-approval.
- Heavy or vague contingencies (long inspection periods, extensive seller-paid repairs).
- Low deposit or suspicious financing timelines.
- There’s potential for multiple offers — you and your agent can get more leverage.
If you’re unsure about buyer qualification, ask your agent to verify pre-approval documents or request a mortgage contact. Don’t accept a check of confidence — verify.
Tactical moves: how to respond to the first offer
If you won’t accept outright, these responses work in Milton:
- Counter: Raise price, tighten terms, adjust closing date. This is the default tool. It keeps the conversation open and tests buyer flexibility.
- Split the difference: Only when the buyer has shown flexibility and the listing has been on market long enough.
- Firm up conditions: Keep the price but shorten inspection/finance conditions and increase deposit.
- Call for backup offers: If you expect more interest, set an offer presentation date and ask agents to bring best offers by that time.
Pro move: Always set a firm expiry date on your counter. It forces decisions and prevents lowball buyers from stringing you along.
How to use local market data to decide
Use three local data points:
- Days on Market (DOM) for comparable homes in Milton.
- Sold price vs asking price for recent similar listings.
- Current inventory and buyer demand in Milton and nearby (Oakville, Burlington, Halton Hills).
If DOM is low and sold prices are at or above asking, first offers are likely as-good-as-it-gets. If DOM is rising and sale-to-list ratios are falling, push back.
Negotiation tactics that work in Milton
- Lead with clarity: Counter with a single simple term you need changed. Buyers respond better to one clear ask.
- Use timelines: Shorten conditional periods to 48–72 hours where reasonable. That’s strong in a market with active buyers.
- Ask for proof: Request mortgage contact or proof of funds for cash offers before removing conditions.
- Preserve leverage: Keep the listing live until conditions are irrevocably removed if you expect other offers.
Avoid emotional countering. Focus on numbers and timing. That’s how you convert offers into clean sales.
Common conditional clauses and how they change value
- Home inspection: Standard. Shorten it to 5–7 days for quicker certainty. Large inspection requests lower the real value of the offer.
- Financing: Ask for evidence of approval or a written mortgage commitment. A fully underwritten approval is worth several thousand dollars in reduced risk.
- Subject to sale: This is riskier. Either reject or require a firm timeline and a larger deposit.
Adjust price expectations for expensive or uncertain conditions.
How to compare offers quickly (use this one-page checklist)
- Net proceeds after fees and taxes.
- Purchase price vs asking price.
- Deposit amount and timing.
- Type and length of conditions.
- Buyer qualification (cash, pre-approval, mortgage broker).
- Closing date suitability.
- Any seller concessions requested.
- Risk tolerance (how long can you keep property on market).
Score each offer against your minimum acceptable outcome. If the first offer scores high, accept it.
Psychology: why buyers give first offers and how to read them
Buyers often submit early offers to avoid bidding wars or to lock in a deal. Sometimes they lowball to test the seller. Read the tone of the offer and the agent’s behavior. An aggressive deposit and clean terms signal a serious buyer.
Your agent’s job is to read that signal and convert it into action — accept, counter, or push for more.
Risk management: protect yourself after you accept
Once you accept, protect the sale:
- Verify financing and conditions early.
- Keep communication in writing.
- Get legal counsel for closing.
- Avoid making new promises or changes without written agreement.
In Ontario, once conditions are removed, the deal is binding. Make sure you’ve cleared every contingency before celebrating.
When speed beats price
Sometimes time is the most valuable thing. If you’re buying another house or need to relocate quickly, accept the best fast offer that meets your minimum. A small price concession can be worth avoiding stress, double moves, or mortgage rate risk.
How Tony Sousa helps Milton sellers win
Tony Sousa knows Milton neighbourhoods, buyer pools, and local timing. He reads offers, verifies financing fast, and negotiates firm terms that protect sellers. If you want a clear decision and a clean closing, consult with an experienced Milton realtor.
Contact: tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca
FAQ — Offers & Negotiation for Milton Home Sellers
Q: Should I accept the first offer if it’s at asking price?
A: Only if the terms are tight: strong deposit, short conditions, qualified buyer, and the net meets your needs. Otherwise counter to improve terms.
Q: What deposit is considered strong in Milton?
A: There’s no universal number, but typically 5–10% of purchase price is strong. Higher deposit signals commitment, especially for larger homes.
Q: If a buyer is “subject to sale” of their current home, what should I do?
A: Treat it as higher risk. Require a larger deposit, a clear deadline, or avoid unless the price compensates for the risk.
Q: How long should inspection and financing conditions be?
A: Shorter is better for sellers. Aim for 48–72 hours for financing confirmation and 5–7 days for inspection in a hot market.
Q: Can I accept a cash offer over a higher financed offer?
A: Often yes. Cash lowers risk of financing failure. But compare net proceeds and terms. Cash with bad terms (low price, long closing) can still lose.
Q: Does Milton use offer presentation dates often?
A: Yes. In active markets, agents set an offer presentation date to gather best offers. If you expect interest, this is a powerful strategy.
Q: Should I consult a lawyer before accepting an offer?
A: Get legal counsel during closing. Your agent can help evaluate offers, but a lawyer ensures contract compliance and a clean closing.
Q: How does market inventory affect whether I should accept the first offer?
A: Low inventory and high demand favor accepting strong first offers. High inventory gives you leverage to push for better terms.
If you want a fast, clear read on your actual offer — send details. Get a firm, honest recommendation for Milton that protects your profit and timeline.
Contact Tony Sousa: tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca
