How Long Do I Have to Respond to an Offer? Don’t Lose Your Sale Over Timing in Georgetown, ON

How long do I have to respond to an offer?

How long do I have to respond to an offer? Don’t lose your sale over timing in Georgetown, ON — one quick mistake and you could miss a better deal.

Quick answer: It depends — but don’t guess

Short version for sellers in Georgetown: if the offer includes a clear expiry time, you must respond before that time to accept it. If there is no expiry time, Ontario contract law looks for a “reasonable time” — and in real estate that window is often short. In practice, think hours, not weeks.

Why? Real estate moves fast in Georgetown. Buyers set timelines. Miss them and the buyer can walk, accept another house, or demand their deposit back depending on the terms.

Why timing matters more than you think

You can fix price, staging, and marketing. You can’t fix timing once an offer hits your inbox. A slow response can:

• Kill leverage in negotiations. A seller who stalls signals weakness.
• Lose the buyer to another property or to impatience.
• Create legal headaches if the buyer included conditions and deadlines.

Sellers commonly assume they have days to think. That used to work. Today, in Georgetown’s active market, offers often include short irrevocability times — 24 hours or less — or are part of multiple-offer processes where the clock is a weapon.

What the contract and Ontario law say (plain English)

Offers are contracts. Key points for sellers:

• An offer can set its own expiry or irrevocable period. If it does, the seller must accept before that time for the buyer’s offer to still stand.
• If there is no specified time, the law looks for a “reasonable time.” In real estate, reasonable is judged by context: market intensity, how the offer was delivered, and what the parties were negotiating.
• Acceptance must be communicated. Signing won’t count if the buyer doesn’t get notified before expiry.
• Counters are new offers. If you counter, you revoke the original offer and create a new timeline.

Note: This is practical guidance, not legal advice. For a legal ruling on a specific dispute, consult a lawyer.

Common offer scenarios and exactly what to do

1) Offer with a clear expiry time

• What it means: Buyer says “Offer expires at 5:00 PM on Tuesday.” That’s the deadline.
• Seller action: Decide and communicate before that time. Accept, reject, or counter. If you counter, you must set your own expiry.

2) Offer with no expiry time

• What it means: The law applies a “reasonable time” standard.
• Seller action: Don’t test the limit. Respond quickly — within 24–48 hours in most cases. In hot markets like Georgetown, aim for hours.

3) Conditional offers (financing, inspection)

• What it means: Buyer gives themselves time to fulfill conditions. The expiry on the offer still controls acceptance of the offer itself.
• Seller action: If you accept, understand that conditions create an escape route for the buyer. Negotiate shorter condition periods when possible.

4) Multiple offers

• What it means: The seller’s agent likely calls for an offers day and a deadline to present or accept offers.
• Seller action: Require your agent to set a clear deadline. If you have multiple offers, you can table them, counter selectively, or request best-and-final.

5) Verbal offers

• What it means: A verbal agreement is risky. Real estate deals must be in writing to be enforceable.
• Seller action: Get everything in writing promptly.

Practical timeline recommendations for Georgetown sellers

• If you get an offer with an expiry: respond before the time. Don’t wait until the last minute.
• If no expiry is given: treat the offer as urgent. Aim to respond within 24 hours; in competitive neighbourhoods aim for the same day.
• If the offer is conditional: push to shorten condition periods (e.g., 48–72 hours for financing pre-approval, 24–48 hours for home inspection reviews when feasible).
• If multiple offers are expected: set an offers presentation date and time. Keep it tight — 24–48 hours from the listing of interest.

These timelines keep you in control and prevent buyers from walking when their circumstances change.

How to respond like a pro (step-by-step)

1. Read the entire offer immediately. Check expiry, price, deposit, conditions, closing date.
2. Call your listing agent the same day. Get an objective read on strength and likely outcomes.
3. Decide: accept, reject, or counter. If you counter, be specific and add a clear expiry.
4. Communicate promptly and get everything in writing. Use email or your agent’s secure system.
5. If you want to buy time to compare offers, ask for a short extension — but be prepared to pay for that option (e.g., accept subject to higher offer).

If you delay to “sleep on it,” you risk a buyer moving on. That costs more than a quick call.

Price vs. timing: which matters more?

Both matter. But in many Georgetown deals, timing wins. A slightly lower, fast, clean offer with a strong deposit and short conditions often beats a higher, slow, conditional offer. Buyers and their agents understand this. Sellers who move fast capitalize.

Multiple offers: a special note for Georgetown neighborhoods

Georgetown sees pockets of high demand. When you have multiple offers:

• Set a firm presentation deadline and require best-and-final if you want higher bids.
• Consider conditional timelines. Shorter condition periods make offers stronger.
• Consider the whole package: deposit size, financing proof, closing flexibility, and personal letters matter less than deposit and conditions.

Your agent should present offers objectively and recommend the best route based on market data.

How I work with sellers in Georgetown (short pitch)

I respond fast. I set clear timelines. I push for strong deposits and short condition periods. If you sell with me, expect this:

• Immediate review of every offer within hours.
• Clear recommendation based on local comps and buyer strength.
• Tight deadlines for counteroffers to keep your leverage.

Contact me for a no-pressure strategy call: tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca

Seller mistakes that cost money — avoid these now

• Waiting days to respond to an offer with a short expiry.
• Ignoring the deposit and condition windows.
• Letting emotional attachment delay decision-making.
• Accepting the highest price without checking buyer strength.

Make decisions like a business owner. Win accordingly.

FAQ — Sellers in Georgetown, ON: Quick, direct answers

How long do I legally have to respond to an offer in Ontario?

If the offer includes an expiry, you must respond before that time. If not, the law uses a “reasonable time” standard. For real estate, reasonable is often hours to a couple of days depending on market conditions.

Can a buyer revoke an offer before the expiry time?

Usually no — the buyer sets an irrevocable period. They can’t revoke during that period unless the offer allows it. Once the irrevocable period ends, the buyer may withdraw.

What happens if I accept after the expiry time?

Acceptance after expiry is ineffective — the buyer can refuse to be bound. If you accept late, the buyer might treat it as a new offer and accept or reject.

If I counter, how does the timeline work?

A counteroffer replaces the original offer. You must set a clear expiry on your counter. The buyer can accept within that new timeframe.

What is a reasonable expiry for condition periods?

Aim for the shortest realistic timelines: 48–72 hours for financing evidence, 24–72 hours for inspections where practical. Shorter condition periods strengthen the offer.

How should I handle multiple offers?

Set a firm presentation deadline. Consider requesting best-and-final offers. Evaluate deposit size, condition timelines, and proof of funds. Don’t pick solely on price.

Should I accept the highest offer every time?

Not necessarily. A higher offer with weak financing or long conditions is riskier than a slightly lower clean offer with a big deposit and short conditions.

Do I need a lawyer right away?

You don’t need one to respond to offers, but for any unclear contract terms or disputes, consult a lawyer experienced in Ontario real estate.

What if the buyer misses a condition deadline?

If a buyer fails to clear a condition, the contract can be at risk. The parties typically negotiate — buyer can request an extension; seller can insist on strict enforcement or terminate.

How can I make my property more attractive to fast, strong offers?

Price it right, stage the home, disclose issues upfront, and make sure showings are easy. Clean, clear, and available homes attract buyers willing to move fast.

Final play — move fast, keep leverage, protect your sale

Timing is your tool. Treat every offer like a timed business decision. Respond quickly, focus on deposit and condition timelines, and use clear expiries to stay in control. In Georgetown’s market, speed wins.

Want a quick assessment of an offer you just received? Email me at tony@sousasells.ca or call 416-477-2620. I’ll give you a direct take and a recommended next step.

Disclaimer: This post provides general information about offers and negotiation in Ontario real estate. It is not legal advice. For legal questions, consult a licensed lawyer.