Can I submit multiple offers on different
homes?
Can I submit multiple offers on different homes? Yes — and here’s exactly how to do it without getting trapped.
Quick answer
Yes. You can submit multiple offers on different homes in Georgetown, ON. But you need a plan. Each offer is a legal contract if accepted. Do the math, remove risky conditions, and coordinate timelines. One mistake can cost your deposit or land you in court.
Why this matters in Georgetown
Georgetown is small, competitive, and close to Toronto. Inventory moves fast. Sellers get multiple bids. Buyers feel pressure and try every strategy. Submitting multiple offers looks smart — until two of them are accepted. Then it becomes expensive and stressful.
This post gives clear steps for buyers and sellers, practical negotiation moves for Georgetown’s market, and the legal points you must know for Ontario transactions.
How multiple offers work — the core facts
- You can prepare and submit offers on several properties at once. No law bans that.
- An offer becomes a binding Agreement of Purchase and Sale once both parties sign and the deposit is delivered according to the contract.
- If you have two accepted offers and you can’t close both, you risk losing deposits and facing breach-of-contract claims.
- Conditional offers (subject to financing, inspection, or sale of your current home) buy time but are weaker in competitive markets.
Practical buyer playbook — don’t guess, execute
- Know your financial position before you submit anything
- Get a firm mortgage pre-approval in writing from a lender in Ontario.
- Confirm bridge financing options if you plan to buy before selling.
- Prioritize homes and limit active offers
- Rank target homes: 1, 2, 3. Make only 1–2 active unconditional offers at a time. Fewer is safer.
- Use conditional offers strategically
- Use a subject-to-sale clause only if you are prepared to wait. In Georgetown’s fast market, sellers often reject these unless the offer includes a strong backup position (higher price, larger deposit).
- Protect deposits and timelines
- Make deposits realistic for the neighborhood. Too small makes your offer weaker; too large ups your risk if you’re caught with two accepted deals.
- Track irrevocable periods and subject removal deadlines. These are the moments you become legally tied.
- Communicate with your agent
- Tell your realtor which offers are backup or top priority. A good listing agent will communicate between buyers and sellers to avoid surprises.
Mini case study — realistic scenario in Georgetown
You make two offers. Offer A: $850,000, subject to sale of your house, $5,000 deposit. Offer B: $870,000, conditional only on financing, $20,000 deposit. Both sellers accept. You can’t close both.
Outcome: Offer A is weak — seller may move on. Offer B is stronger because of bigger deposit and fewer conditions. If both are accepted, you’re legally on the hook for Offer B unless you can remove the finance condition. If you breach Offer A, seller can keep deposit or sue for damages.
This is why planning matters.
Seller strategy — how to handle multiple offers as a seller in Georgetown
- Ask for highest-and-best by a set date and time. That forces buyers to put their best terms forward.
- Accept an offer and call it firm only after the deposit is delivered and initials are on the agreement. Cash or certified deposit speeds things up.
- Consider backup offers. A backup offer becomes active if the primary deal collapses. It’s cheap insurance.
- Evaluate more than price: closing date, conditions, deposit size, and buyer flexibility matter in Georgetown’s mix.
Negotiation levers that win offers in Georgetown
- Larger deposit: Shows commitment. In a tight market, it often beats a slightly higher price with small deposit.
- Shorter subject-removal windows: Removes uncertainty for sellers.
- Flexible closing dates: Align your closing with seller needs (e.g., late summer, school start) to gain an edge.
- Pre-emptive inspection or waived inspection (only if you can accept the risk): Makes the offer look cleaner.
Legal realities in Ontario — plain language
- An Agreement of Purchase and Sale is binding when accepted by both parties. That acceptance creates legal obligations.
- If you’re unsure, add reasonable conditions. But know: conditions are kill-switches for offers. Sellers prefer clean, unconditional transactions.
- If you sign and have multiple accepted contracts, you may be liable for damages to the seller you walked away from. Always talk to a real estate lawyer if you’re unsure.
Local market tips specific to Georgetown
- Inventory trends: Georgetown often follows the GTA market with tight supply and quick sales. Stay updated with daily new listings.
- Neighbourhood nuance: Homes near Georgetown’s downtown core and schools move faster. Adjust your deposit and terms there.
- Work with a local agent who knows which sellers will accept conditional offers and which will only take clean bids.
Actionable checklist — What to do if you want to submit multiple offers
- Get a written mortgage pre-approval.
- Decide deposit sizes for each offer and keep funds liquid.
- Rank properties and submit at most two active unconditional offers.
- Keep one strong conditional offer only if you can afford the risk.
- Tell your agent your priorities and update them at every bid.
- If accepted on more than one, call your agent and lawyer immediately.
Why working with a local expert matters
Georgetown’s market is not Toronto’s. Local agents know which sellers will entertain subject-to-sale offers, which neighbourhoods demand higher deposits, and which listing agents will call for highest-and-best. That knowledge saves you money and stress.
Tony Sousa is a Georgetown realtor with years of local negotiation experience. He reads the market, sets timelines that protect clients, and builds offers to win — without exposing clients to unnecessary legal risk. If you want confident guidance through multiple offers or to structure a selling strategy that attracts clean offers, talk to Tony.
Contact:
- tony@sousasells.ca
- 416-477-2620
- https://www.sousasells.ca
FAQ — Fast answers about offers, negotiation, and selling in Georgetown, ON
Can I legally submit offers on multiple homes in Ontario?
Yes. There’s no law stopping you. The risk is becoming legally bound by more than one accepted offer. Plan to avoid that.
What happens if two offers I made are both accepted?
You may be legally required to close both. Practically, you’ll have to choose one and risk losing deposits or facing damages on the other. Contact your lawyer immediately.
Are conditional offers effective in Georgetown?
They’re useful but weaker. In fast-moving pockets of Georgetown, unconditional offers win. Use conditional offers when you actually need the protection.
What size deposit should I offer?
Match neighbourhood norms. In competitive Georgetown areas, larger deposits show commitment. Ask your agent for recent comps.
Should sellers ask for highest-and-best offers?
Yes. It forces buyers to reveal their best price and terms. It’s a powerful tool in low-inventory markets.
What is a backup offer and should sellers accept them?
A backup offer sits behind the accepted contract. If the first deal collapses, the backup becomes active. Sellers benefit from backup offers as insurance.
Do I need a lawyer if I submit multiple offers?
Yes. A real estate lawyer protects you in case of competing accepted offers or disputes. Consult one before signing multiple legally-binding documents.
Who pays for damage if I back out after acceptance?
Potentially you. The seller can keep your deposit or sue for additional damages. The outcome depends on the contract and whether conditions existed.
Final word — act like a pro, not a gambler
Submitting multiple offers can be smart if you plan and control risk. It’s not a game of chance. Use pre-approvals, sensible deposits, clear priorities, and local market intelligence. If you’re buying or selling in Georgetown, get a local expert who will structure offers that win and protect you if deals collide.
For direct help with multiple offers, negotiation tactics, or a seller strategy tailored to Georgetown, reach out to Tony Sousa: tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca
