Multiple Offers in Ontario: The Rules for Buyers and Sellers Under TRESA

When several buyers want the same home, emotions run high and the rules matter. Many buyers in Richmond Hill, Markham and Vaughan have experienced an offer night and come away unsure what happened or what they were entitled to know. Ontario's rules changed on December 1, 2023, when the Trust in Real Estate Services Act, 2002 (TRESA) phase two took effect. This guide explains the current rules for both sides, based on RECO's published guidance.

What every offer-maker must be told

When there are competing written offers, the seller's brokerage must disclose the number of competing written offers to every person who has made one (RECO Bulletin 4.1, accessed October 2026). That disclosure does not include the price or terms unless the seller directs otherwise. Verbal offers or expressions of interest do not count as written offers.

Open offers: sellers can now share offer details

Since December 1, 2023, a seller may direct their brokerage, in writing, to share the details of competing written offers, such as price or conditions, with everyone who submitted one (RECO, accessed October 2026). Key points:

• The direction must come from the seller in writing.
• If details are shared, they must be shared with every person who submitted a competing written offer.
• Personal information that would identify the people making offers must not be shared.
• The seller can change or revoke the direction.

Some sellers choose open offers to encourage transparency; others prefer to keep details private. Either approach is allowed.

Registered offers and holding back offers

Many listings in the GTA set an offer date, with offers "held" until then. Buyers can sometimes submit a "pre-emptive" or "bully" offer before the offer date, and the seller decides whether to consider it. Brokerages generally keep records of offers they receive, and RECO publishes guidance on how sellers' brokerages should handle offers and offer records.

Tips for buyers

1. Know your ceiling before offer night. Decide the most you are prepared to pay, based on comparable sales and your budget, not the excitement in the room.
2. Get financing ready. A strong pre-approval and a sizable deposit can make an offer more attractive.
3. Do due diligence early. If you plan to offer without conditions, inspect beforehand and review any condo status certificate.
4. Understand the risks of going firm. Without conditions, you may lose your deposit if you cannot close. Our post on conditional offers in the GTA explains the trade-offs.
5. Ask about the offer process. Ask whether offers are being held, whether the seller is using open offers, and how many written offers are registered.

Tips for sellers

1. Decide your strategy with your agent. Offer dates, open offers and pre-emptive offer policies should be agreed in writing in advance.
2. Compare offers on more than price. Deposit size, closing date, conditions and inclusions all affect the real value and certainty of an offer.
3. Consider the buyer's financing. A large deposit and a firm offer offer more certainty, though no deal is risk-free.
4. Read the documents. Before accepting, review the offer details with your agent and, where needed, your lawyer.

Our guide to the steps of selling a house in Ontario shows where offer night fits into the wider process.

What if you are both buying and selling?

Move-up buyers often face multiple offers on both sides. Coordinate the dates with care: winning a bidding war on your purchase before your sale is firm adds risk. Bridge financing or a longer closing on your purchase can help, and our post on buying before you sell covers those options.

What sellers cannot do

RECO's rules exist to keep the process fair. A seller's brokerage cannot misrepresent the number of offers, and once a seller has chosen to share offer details, the brokerage must share them with every person who submitted a competing written offer, not just a favoured one. If you believe a brokerage has not followed the rules, you can raise it with RECO, which handles complaints about registrants.

What buyers should keep in mind

Even under the new rules, buyers will often not know the price of competing offers unless the seller chooses open offers. Base your offer on comparable sales and your own budget, not on guesses about the other offers. If you lose a bidding war, it may be disappointing, but it does not mean you did something wrong. Many buyers go through several offer nights before they find the right home.

A short glossary

• Holding offers: the seller sets a date and time to review offers.
• Bully or pre-emptive offer: an offer submitted before the holding date, often with a short deadline.
• Sign-back: the seller returns an offer with changes, inviting the buyer to accept or counter.
• Firm offer: an offer without conditions.
• Escalation clause: a clause in which a buyer offers to beat other offers by a set amount; not commonly used in Ontario, and best discussed with your agent and lawyer before use.
• Deposit: funds paid by the buyer, usually within 24 hours of acceptance, held in trust until closing.

Multiple-offer situations can be stressful, but clear rules and good preparation make them more manageable for both sides.

After the offer is accepted

Once an offer is accepted, the buyer usually delivers the deposit within the time set out in the agreement, often within 24 hours. If there are conditions, the buyer works through them within the deadlines. The seller should keep the home in the same condition and avoid removing anything included in the agreement. Unsuccessful buyers are usually told that the property has sold or that another offer was accepted, and the seller's brokerage keeps records of the offers received as required. For both sides, keeping copies of everything signed is a simple habit that avoids confusion later.

Frequently asked questions

Do I have to be told how many offers there are in Ontario?

Yes. The seller's brokerage must disclose the number of competing written offers to everyone who has made one.

Can a seller share the price of competing offers?

Since December 1, 2023, a seller may direct their brokerage in writing to share details of competing written offers with every person who made one, without personal information.

What is a bully offer?

A pre-emptive offer made before the seller's scheduled offer date. The seller decides whether to consider it.

Should I remove conditions to win a bidding war?

That depends on your risk tolerance. A firm offer can be more attractive but may put your deposit at risk if you cannot close.

General information only, not legal, tax or financial advice. Figures were checked against the sources linked above in October 2026 and can change; confirm your own numbers with your real estate lawyer, accountant or lender before you sign anything.

Farshad Fazaeli, Salesperson, International Realty Firm, Inc., Brokerage, 647-667-5555 · Richmond Hill, ON