How should I handle a multiple-offer situation as an Ontario seller?

In a multiple-offer situation several buyers submit offers on your property, often simultaneously on an offer night your agent has arranged. As the seller you have several choices: accept the best offer outright, sign back (counter) your preferred offer and let the others lapse, or ask all buyers to submit their best and final offer by a new deadline.

Ontario's Code of Ethics restricts what your agent can share between competing buyers. You are permitted to tell buyers that other offers exist and to advise them to bring their best offer, but revealing the specific price or terms of any one buyer's offer to another buyer is not permitted without that buyer's consent.

When evaluating competing offers, price matters but so do other factors: the size of the deposit (which signals commitment and protects you if the buyer defaults), the number and length of conditions (fewer conditions and shorter periods reduce risk), the closing date (does it align with your plans?), and any unusual terms in the offer. Your agent should present each offer clearly and explain the trade-offs. Take the time you need to read each one, and consult your real estate lawyer if any offer contains unusual or unfamiliar language.