How long is an offer valid in Ontario?
How long is an offer valid in Ontario? Read this now — one missed deadline can cost you thousands when selling in Georgetown, ON.
Why this matters for Georgetown home sellers
You’re selling a house in Georgetown. Offers arrive fast. You need clarity. An offer’s validity — the date and time it expires — decides whether you can accept, counter, or walk away. Miss that window and the buyer can vanish, or worse, you could end up in a legal fight.
This guide cuts the noise. It tells you exactly how long an offer is valid in Ontario, what “irrevocable” means, how conditions affect the timeline, and what to do in a busy Georgetown market to protect your sale and maximize price.
The bottom line — short answer
- An offer is valid for the time it states. If the offer says it expires at 5:00 p.m. on May 5, it’s valid until that exact time.
- If there’s no expiry time stated, the law treats it as valid for a “reasonable time.” That’s risky and vague.
- Many real estate offers include an “irrevocable” clause. During the irrevocable period, the buyer can’t withdraw the offer.
- Conditional offers aren’t firm until the buyer satisfies or waives the conditions by the condition removal deadline.
For Georgetown sellers: insist on a clear expiry time and a short irrevocable period during fast markets. That gives you control.
How offers become legally binding in Ontario
A real estate offer becomes a binding contract when three things happen:
- The buyer makes a written offer.
- The seller accepts the offer in writing.
- The acceptance is communicated to the buyer before the offer expires or is revoked.
That means timing and communication are everything. If the buyer tries to revoke the offer, the revocation must be communicated to you before you accept. If you accept and communicate acceptance before expiry, you have a binding contract.
Irrevocable period vs expiry time — know the difference
- Expiry time: The exact date and time after which the offer is no longer open for acceptance.
- Irrevocable period: A promise by the buyer that they will not revoke the offer until the stated time. This gives the seller certainty while deciding.
Example: Buyer writes an offer with an expiry of 6:00 p.m. and an irrevocable period to 6:00 p.m. That means the buyer cannot withdraw the offer before 6:00 p.m. If the seller signs at 5:45 p.m. and communicates acceptance immediately, the deal is binding.
If the buyer gives an expiry time but no irrevocable promise, they could try to revoke the offer before the seller accepts, which creates risk.
Conditions extend validity until removed
Most offers include conditions: financing, home inspection, status certificate for condos, lawyer review, etc. Those conditions set deadlines — often a few days.
Until those conditions are removed or waived by the buyer, the offer remains conditional and not firm. Sellers should watch condition removal dates closely. A buyer can’t enforce the purchase if they haven’t removed conditions by the deadline.
Pro tip for Georgetown sellers: shorten condition timelines where possible, especially during hot markets. Short timelines pressure buyers to act or move on.
What counts as “reasonable time” if no expiry is stated?
If an offer doesn’t state an expiry, Ontario courts use a “reasonable time” standard. Reasonable depends on context: the local market, the nature of the property, how communication happens, and how fast decisions are usually made.
In a fast-moving Georgetown market, “reasonable” could be hours. In a slow market, it might be days. Don’t rely on this. Always require a clear expiry.
Counter-offers: rejection and new timelines
A counter-offer is a rejection of the original offer and the creation of a new offer. That resets timelines. If you counter, you should state the new expiry and irrevocable period.
Don’t assume a counter keeps the original expiry. It doesn’t. If the buyer accepts your counter after the new expiry, it’s not binding unless the new offer’s terms were met.
Multiple offers: how validity impacts strategy
When you have multiple offers in Georgetown, expiry times and irrevocable clauses become leverage.
- Use staggered expiry times to force buyers to improve offers.
- Ask for short irrevocable periods (e.g., 24 hours) to keep momentum.
- Demand firm deposit timelines and conditional removal deadlines.
If buyers are competing, those with shorter irrevocable periods or firmer conditions look stronger.
Deposits, trust accounts, and timing
A deposit signals seriousness. Typically delivered within a set period (24–72 hours) to a brokerage or lawyer trust account after acceptance.
Make sure the offer specifies where and when the deposit goes. If deposit delivery deadlines aren’t met, sellers have remedies, including treating the offer as void or pursuing damages — but that triggers negotiation or legal steps.
Common seller mistakes and how they cost money
- Letting offers remain open without a clear expiry. That creates ambiguity.
- Accepting verbal acceptance or waiting for a late signature. Acceptance must be communicated in writing.
- Ignoring condition removal dates. Buyers can walk if conditions aren’t satisfied.
- Failing to use an irrevocable clause in fast markets. Buyers can pull offers at the last minute.
Avoid these mistakes by demanding clear expiry times, short irrevocable periods, and firm condition timelines.
Practical checklist for sellers in Georgetown, ON
- Require a specific expiry date and time on every offer.
- Ask buyers for an irrevocable period (24–48 hours in a normal market; shorter in a hot market).
- Set short condition removal deadlines (24–72 hours) if possible.
- Specify deposit amount, recipient (brokerage or lawyer trust), and deadline for delivery.
- Get written confirmation immediately when you accept and have your agent or lawyer communicate acceptance to the buyer.
- If you receive multiple offers, coordinate staggered expiry times and request proof of financing.
How local market realities in Georgetown change the math
Georgetown’s market moves differently than downtown Toronto. Inventory levels, buyer demand, and commute patterns matter. In a seller’s market, short expiries and minimal conditions maximize price. In a buyer’s market, you might accept slightly longer timelines to attract offers.
Work with a local agent who knows Georgetown’s pace. They’ll recommend the right irrevocable window and expiry to capture maximum buyer urgency without scaring off qualified buyers.
Negotiation tactics that protect your timeline
- Use the expiry time as a negotiation lever. Shorten it to pressure action.
- Require pre-approval letters or proof of funds with the offer.
- Counter quickly and in writing. Speed kills indecision.
- Hold deposit to a reliable trust account, not in-hand.
The goal: remove ambiguity so you can sell cleanly and on your terms.
When to call a lawyer
If a buyer disputes whether an offer was valid, or if a deposit is withheld, get legal advice. Real estate lawyers handle contract interpretation, enforcement, and disputes. For Georgetown sellers, having a lawyer ready shortens resolution time and reduces risk.
Final word — control the clock
An offer’s validity is a clock you control. Put the time on your terms. Demand clear expiry times, irrevocable windows, and condition deadlines. In Georgetown’s market, timing wins deals and protects your profit.
If you’re selling in Georgetown and want a no-fluff review of offers or a negotiation plan that protects time and money, contact Tony Sousa, local realtor, at tony@sousasells.ca or 416-477-2620. Or book online: https://www.sousasells.ca
FAQ — Offers & Negotiation for Georgetown, Ontario Home Sellers
Q: How long is an offer valid in Ontario?
A: It’s valid until the expiry time stated in the offer. If no time is stated, it’s valid for a “reasonable time” — which is vague and risky.
Q: What is an irrevocable period?
A: A promise by the buyer that the offer cannot be revoked until a stated time. Use it to lock the buyer in while you decide.
Q: Can a buyer withdraw an offer before the expiry time?
A: If there’s no irrevocable promise, the buyer can revoke before you accept — but the revocation must be communicated to you before acceptance.
Q: Do conditions affect how long an offer lasts?
A: Yes. Conditional offers remain conditional until the buyer removes conditions by the deadline. The offer isn’t firm until conditions are satisfied or waived.
Q: What happens if a counter-offer is made?
A: The original offer is rejected. The counter-offer is a new offer with its own expiry.
Q: What should Georgetown sellers do in a multiple-offer situation?
A: Use short expiry and irrevocable windows, request proof of financing, and stagger expiry times to drive competition.
Q: How soon should a deposit be delivered?
A: The offer should state this. Commonly within 24–72 hours to the brokerage or lawyer trust account.
Q: Should I accept offers without an expiry time?
A: No. Always require a specific expiry time and date.
Q: When should I call a lawyer?
A: If there’s a dispute over acceptance, deposits, or condition removal. Legal advice avoids costly mistakes.
Contact for a fast, clear review of your offers: tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca
