{"id":12223,"date":"2025-10-02T08:00:00","date_gmt":"2025-10-02T12:00:00","guid":{"rendered":"https:\/\/www.zolo.ca\/news\/?p=12223"},"modified":"2025-12-16T09:54:05","modified_gmt":"2025-12-16T14:54:05","slug":"make-an-offer-on-a-home","status":"publish","type":"post","link":"https:\/\/www.zolo.ca\/blog\/make-an-offer-on-a-home","title":{"rendered":"How to Make an Offer on a House"},"content":{"rendered":"\n<p>If you plan to buy but are wondering how to make an offer on a house, you\u2019re in the right place. After all, the feeling you get when you see an acquaintance share a family photo in front of their new house on Instagram probably sparks further motivation to reach the same milestone.&nbsp;<\/p>\n\n\n\n<p>But, if you have found your dream home and want to make a move but aren\u2019t sure what that entails, it\u2019s time to find out.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"key-takeaways\">Key Takeaways<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Making an offer on a house involves submitting a legal document that outlines the terms and conditions of the purchase<\/li><li>Real estate professionals like Realtors and lawyers help you submit an offer and complete the purchase<\/li><li>Deciding how much to offer on a home depends on the current market conditions, the asking price, and the state of the property<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"tips-for-making-an-offer-on-a-house\">Tips for Making an Offer on a House<\/h2>\n\n\n\n<p>Before you sign on the dotted line to make an offer on a home, consider your budget, learn the basics of real estate, and ensure you are ready to make a purchase.<\/p>\n\n\n<p><iframe loading=\"lazy\" title=\"How to make an offer on a home that can\u2019t be refused [5 tips]\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/3XxVZtOG3Iw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Do Your Research<\/h3>\n\n\n\n<p>Before you make an offer on a home, you should have a basic understanding of the housing market and <a href=\"https:\/\/www.zolo.ca\/blog\/how-do-mortgage-payments-work\">how mortgages work<\/a>.<\/p>\n\n\n\n<p>A real estate agent is a valuable asset looking out for your best interests when planning to buy a house. Realtors are experts in real estate transactions and can help you choose the right neighbourhood, home, and offer amount.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Get Prequalified<\/h3>\n\n\n\n<p>While getting pre-approved for a mortgage is not required, it is a smart idea. To obtain <a href=\"https:\/\/www.zolo.ca\/blog\/mortgage-pre-approval\">mortgage pre-approval<\/a>, contact a mortgage broker or lender and provide them with financial documents like pay stubs and proof of down payment. Once you\u2019ve submitted your application, your lender or broker will secure your pre-approval and supply a letter outlining the details. You can use this letter to assure the seller that you will likely receive full financing approval.<\/p>\n\n\n\n<section class=\"wp-block-zolo-related flex items-center py-6 leading-tight border-t border-b border-blacklight undefined\"><p class=\"font-serif pr-6 md:pr-12 mr-6 md:flex-shrink-0 border-r border-blacklight\">Related content<\/p><p class=\"related-link w-full my-0\"><a href=\"https:\/\/www.zolo.ca\/blog\/fixed-vs-variable-rate-mortgage\">Fixed vs Variable Mortgages: What\u2019s the Difference?<\/a><\/p><\/section>\n\n\n\n<p>Even if you choose not to get a pre-approval, you should check your credit score and gather the necessary documents to prepare you to obtain final mortgage approval after making an offer.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Prepare Down Payment and Deposit Money<\/h3>\n\n\n\n<p>Your <a href=\"https:\/\/www.zolo.ca\/blog\/how-much-is-a-down-payment\">down payment<\/a> is the money you pay up front to purchase a house with a mortgage. The down payment is typically paid in cash at closing. The total down payment amount will depend on the property\u2019s purchase price and the type of home you\u2019re buying.<\/p>\n\n\n\n<p>If you are buying a primary residence, the minimum down payment changes depending on the purchase price:<\/p>\n\n\n\n<div id=\"footable_parent_23423\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui colored_table\">\n                <table data-ninja_table_instance=\"ninja_table_instance_0\" data-footable_id=\"23423\" data-filter-delay=\"1000\" aria-label=\"Minimum Down Payments in Canada\"            id=\"footable_23423\"\n           data-unique_identifier=\"ninja_table_unique_id_3006911796_23423\"\n           class=\" foo-table ninja_footable foo_table_23423 ninja_table_unique_id_3006911796_23423 ui table  nt_type_legacy_table selectable hide_horizonal_borders hide_vertical_borders striped compact vertical_centered ninja_custom_color inverted footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_purchase_pirce \">Purchase Price<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_minimum_down_payment_required \">Minimum down payment required<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"17060\" class=\"ninja_table_row_0 nt_row_id_17060\">\n            <td>Up to $500,000<\/td><td>5%<\/td>        <\/tr>\n            <tr data-row_id=\"17061\" class=\"ninja_table_row_1 nt_row_id_17061\">\n            <td>Between $500,000 and $1,499,999<\/td><td>5% on the first $500,000 of the purchase price, 10% on the portion of the purchase price above $500,000<\/td>        <\/tr>\n            <tr data-row_id=\"17062\" class=\"ninja_table_row_2 nt_row_id_17062\">\n            <td>$1,500,000 and up<\/td><td>20%<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<p>A deposit differs from a down payment. You make a deposit when you make an offer on a home to reassure the seller you are serious about purchasing it. There is no minimum or maximum deposit amount in Canada; however, it typically ranges between <a href=\"https:\/\/wowa.ca\/house-deposit\">1% and 5%<\/a> of the purchase price. The deposit becomes part of your down payment upon closing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Consider Contingencies<\/h3>\n\n\n\n<p>Before you make an offer, consider what contingencies and conditions are important to you. For instance, do you need to sell your current home before you buy a new one?<\/p>\n\n\n\n<section class=\"wp-block-zolo-related flex items-center py-6 leading-tight border-t border-b border-blacklight undefined\"><p class=\"font-serif pr-6 md:pr-12 mr-6 md:flex-shrink-0 border-r border-blacklight\">Related content<\/p><p class=\"related-link w-full my-0\"><a href=\"https:\/\/www.zolo.ca\/blog\/what-happens-to-your-mortgage\">Can You Sell a House with a Mortgage?<\/a><\/p><\/section>\n\n\n\n<p>In some cases, like in hot seller\u2019s markets, you may feel pressured to make an offer without conditions, especially in multiple offer situations. It\u2019s essential to note that if you make an offer on a home without conditions and decide not to proceed with the purchase for any reason, you may face legal consequences and lose your deposit.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How Much to Offer on a House<\/h3>\n\n\n\n<p>Deciding how much to offer on a home is a big decision; after all, the sellers want fair market value for their property. Here are some considerations before you make an offer:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Comparative market analysis<\/strong> &#8211; Your real estate agent will compare recent home sales on similar homes in the area to ensure you are making a solid offer<\/li><li><strong>Asking price<\/strong> &#8211; Once you know the comparable home sales (often called \u201ccomps\u201d), compare their prices to the home\u2019s asking price. You may want to offer below or above the asking price<\/li><li><strong>Market conditions <\/strong>&#8211; The local market conditions affect how much you offer on a property. For instance, in a buyer\u2019s market, you may be able to bid under the asking price. In a competitive market, you may need to offer over the posted price and expect a <a href=\"https:\/\/www.zolo.ca\/blog\/home-bidding-war\">bidding war<\/a><\/li><li><strong>Home condition <\/strong>&#8211; A property in great condition in a good neighbourhood often demands a higher price than a fixer-upper, or one in a less desirable area<\/li><li><strong>Budget<\/strong> &#8211; Finally, you should consider your budget. Ultimately, you will need to be able to secure financing and pay the mortgage<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-to-prepare-an-offer-letter\">How to Prepare an Offer Letter<\/h2>\n\n\n\n<p>An important thing to note is that you must make an offer on a house official by putting it in writing. According to the <a href=\"https:\/\/www.cmhc-schl.gc.ca\/professionals\/industry-innovation-and-leadership\/industry-expertise\/resources-for-mortgage-professionals\/making-offer-purchase-a-home\">Canadian Mortgage and Housing Corporation<\/a>, your offer will need to include the following items:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Legal name of the buyer(s) and seller(s)<\/li><li>The municipal address and legal description of the property<\/li><li>The price you are offering to pay for the home<\/li><li>Deposit amount<\/li><li>Conditions of the purchase<\/li><li>Inclusions or exclusions, like window coverings and appliances<\/li><li>A request for a current land survey of the property<\/li><li>The official possession date<\/li><li>Offer expiration date<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-happens-after-you-make-an-offer-on-a-house?\">What Happens After You Make an Offer on a House?<\/h2>\n\n\n\n<p>After you submit your initial offer letter to the seller, you will need to follow several steps before the property is considered sold.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"1149\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2022\/05\/home-offer-process-1024x1149.png\" alt=\"house offer process\" class=\"wp-image-25058\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Negotiations<\/h3>\n\n\n\n<p>Negotiations don\u2019t need to be stressful, especially if you\u2019ve hired a real estate agent on your behalf. Just as you would with a salary negotiation, it\u2019s time to sell yourself to prove to the buyer that you\u2019re serious. If you have pre-approval, a reputable lender and are willing to put a deposit on a home, you are a great candidate for sellers.&nbsp;<\/p>\n\n\n\n<section class=\"wp-block-zolo-related flex items-center py-6 leading-tight border-t border-b border-blacklight undefined\"><p class=\"font-serif pr-6 md:pr-12 mr-6 md:flex-shrink-0 border-r border-blacklight\">Related content<\/p><p class=\"related-link w-full my-0\"><a href=\"https:\/\/www.zolo.ca\/blog\/negotiate-best-house-price-canada\">How to Negotiate the Best House Purchase Price<\/a><\/p><\/section>\n\n\n\n<p>Your real estate agent will communicate with the seller\u2019s agent to share the amount you are willing to offer to buy the property. Your real estate agent will wait to hear back from the seller\u2019s agent on whether or not the offer is accepted, declined or countered.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Counter-Offer<\/h3>\n\n\n\n<p>In <a href=\"https:\/\/www.zolo.ca\/blog\/negotiating-price-of-a-house\">real estate negotiations<\/a>, there are no limits on the number of counter-offers the buyer and seller can make. There are also no limits on what you can negotiate. Be prepared for the reality that your offer may go back and forth upwards of five times before finally being accepted \u2014 or worse \u2014 declined. Negotiations can be done in one day or, on the flip side, take upwards of one week.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Offer Acceptance<\/h3>\n\n\n\n<p>A purchase offer, once accepted, becomes a binding sales contract, otherwise known as a purchase agreement. The property will now be considered &#8220;<a href=\"https:\/\/www.zolo.ca\/blog\/sold-conditional\">conditionally sold<\/a>.&#8221; A conditional sale means that the conditions you included in your written proposal must be met before the closing or possession date.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Offer Rejection<\/h3>\n\n\n\n<p>A seller may reject your offer at any time during the negotiation process. This may be because they have other offers on the table or due to the terms of your offer. If the seller doesn&#8217;t provide a reason for the rejection, you may ask. You can update and resubmit your offer if the home was not sold to another buyer.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Meet Contingencies<\/h3>\n\n\n\n<p>After your offer is accepted and the property is conditionally sold, you must meet any conditions outlined in your offer. Common conditions include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Financing<\/li><li>Home inspection<\/li><li>Appraisal<\/li><li>Land survey<\/li><li>Sale of the buyer\u2019s home<\/li><\/ul>\n\n\n\n<p>If you fail to meet the conditions in your offer by a specified date, you can back out of the home purchase without consequences.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Legal Review<\/h3>\n\n\n\n<p>Your <a href=\"https:\/\/www.zolo.ca\/blog\/real-estate-lawyer-guide\">real estate lawyer<\/a> will conduct a title search to determine if there are any claims or liens on the property. In addition, they will provide title registration and title insurance.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Final Closing<\/h3>\n\n\n\n<p>Before closing, you will complete a final walk-through of the property and sign the closing documents. Your lawyer will transfer the funds to the seller and register the sale and mortgage. Finally, your lawyer will provide you with the keys to your new home.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"bottom-line\">Bottom Line<\/h2>\n\n\n\n<p>Making an offer on a home can be slow or extremely quick. Making an offer on a home requires a compromise between a buyer and a seller. But, in the end, if your offer is accepted, everyone wins.<\/p>\n\n\n\n<p>If you\u2019re ready to learn more about real estate, the <a href=\"https:\/\/www.zolo.ca\/blog\/\">Zolo Homebase Blog<\/a> is a great place to start. When you see a home you like, be sure to reach out to one of our experienced real estate agents. We\u2019re here to help you every step of the way.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"home-offer-faq\">Home Offer FAQ<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Can I put in an offer without a Realtor?<\/h3>\n\n\n\n<p>You can make an <a href=\"https:\/\/www.zolo.ca\/blog\/do-i-need-realtor-to-buy-house\">offer on a home without a Realtor<\/a> in Canada. To make an offer on a house without a real estate agent, you will submit a legal document with an offer to purchase the property.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What not to do when making an offer on a house?<\/h3>\n\n\n\n<p>Do not offer more than you can afford when making an offer on a home. In addition, after you\u2019ve secured mortgage pre-approval, do not take on new debt, change jobs, or lower your credit score.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What are common contingencies in offers?<\/h3>\n\n\n\n<p>Mortgage financing, home inspection, home appraisal, and land survey are some of the most common contingencies or conditions in home offers.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From negotiations to closing \u2014 these are the steps you need to take when buying your first home<\/p>\n","protected":false},"author":22,"featured_media":24170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"guide":[],"class_list":["post-12223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying"],"acf":[],"zolo_excerpt":"","_links":{"self":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/12223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/comments?post=12223"}],"version-history":[{"count":11,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/12223\/revisions"}],"predecessor-version":[{"id":25261,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/12223\/revisions\/25261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/media\/24170"}],"wp:attachment":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/media?parent=12223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/categories?post=12223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/tags?post=12223"},{"taxonomy":"guide","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/guide?post=12223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}