Can You Make an Offer on a Home Marked Sold Conditional in Ontario?

Yes, you can usually make an offer on a home marked sold conditional, because a conditional agreement is not final and binding until all its conditions are met or waived. A seller who has accepted a conditional offer may still consider other offers.

The seller protects itself with an escape clause. It requires notice to the first buyer and gives that buyer a set time, for example 48 hours, to waive or satisfy its conditions. If the first buyer does so within the deadline, the seller must sell to that buyer on the original terms. Conditions such as a satisfactory home inspection must be waived or performed by the agreed time before the deal becomes binding, and once all conditions are waived, the agreement is firm and binding.

A backup offer should therefore be made conditional on the first deal ending, so the seller does not end up selling to two buyers. The seller may accept your offer, reject it, make a counter-offer, or ask you to revise it, and does not have to take the highest price. If you have made a written offer, you are entitled to know the number of competing offers, but not their amounts or conditions.