What happens on offer night when a seller reviews bids in Ontario?
Offer presentation night is when a seller and their listing agent sit down to review all submitted offers. In Ontario, the listing agent must tell each buyer's agent how many offers have been registered, but the terms of competing offers remain confidential. Sellers are not required to take the highest price — they can accept whichever offer best fits their needs.
After reviewing the offers, the seller has a few options: accept one outright, reject all of them, or sign back one or more with modifications (counter-offers). If the seller signs back your offer, you will receive a counter-offer with a new irrevocability deadline. If they accept another buyer's offer, your offer simply expires when your irrevocability period ends.
As a buyer, you generally will not be present. Your agent may be asked to be available by phone during the presentation in case the seller wants to sign back your offer and you need to respond quickly. Make sure you and your agent discuss your walk-away price and your response strategy before offer night so you can make decisions calmly under time pressure.
Key takeaways
- The number of competing offers must be disclosed, but not their terms.
- Sellers can accept, reject, or counter-sign any offer — price is not the only factor.
- Buyers are typically not present; agent availability by phone is important.
- Agree on your walk-away price with your agent before offer night.