A situation where two or more buyers submit offers on the same property at the same time. The listing agent is required to inform all buyer agents that multiple offers have been registered, but they cannot disclose the details of competing offers. The seller then reviews all offers and chooses how to proceed.
Why It Matters
Multiple offers are common in the GTA and often lead to prices being driven above asking. Understanding how to navigate this scenario -- including how to structure your offer, what to include, and when to walk away -- is essential for buyers in competitive neighbourhoods.
Real-World Example
A 3-bed semi in the Beaches is listed at $999,000 with offers held until Tuesday at 7 PM. By offer night, 12 offers have been registered. Your agent is notified of the multiple-offer situation but gets no details about competing bids. You submit a firm offer at $1,125,000 with a $50,000 deposit. The seller reviews all 12 offers and accepts the highest clean offer at $1,180,000 -- not yours. You walk away without obligation.
Ontario & GTA Context
Under TRESA, sellers in Ontario now have the option to allow open bidding, where the number and details of competing offers are shared with all participating buyers. However, the seller must consent to this transparency. In a traditional closed bidding process, the listing agent can only confirm that multiple offers exist -- they cannot reveal prices, terms, or the identities of other buyers.
How It Works in Practice
Before offer night, set a firm maximum price with your agent and stick to it. Have your financing confirmed and your deposit funds ready. In multiple-offer situations, the strength of your offer (firm vs conditional, deposit size, flexible closing) matters as much as the price.
Common Questions
Can the seller see all the offers in a multiple-offer situation?▾
Can a seller reject all offers in a multiple-offer situation?▾
How do I know if there are multiple offers on a property?▾
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