What are the risks of submitting a pre-emptive offer in Ontario?

When you submit a pre-emptive offer before a scheduled offer date, you typically do so under time pressure — which means you may not have done a full home inspection, and you are making a decision without knowing what other buyers were prepared to pay. The seller can pocket the premium you offered or simply reject it and proceed with the originally scheduled offer night anyway.

A pre-emptive offer is often submitted with minimal or no conditions, because it only works as a strategy if it is very attractive to the seller. That means you may be waiving your financing condition, your home inspection condition, or both. If your financing falls through after the offer is accepted firm, you could lose your deposit and face a lawsuit for damages.

There is no legal bar to submitting a pre-emptive offer, but it is a high-stakes move. Before doing so, make sure you have a mortgage pre-approval in place, you understand the property's condition, and you have spoken with a real estate lawyer about your obligations if the offer is accepted.