For sellers in Toronto, offer night is one of the most emotionally charged moments of a home sale — and one of the most consequential. The decisions you make in the next few hours directly affect your final sale price, your closing date, and whether the deal holds together.

The evening your home goes to offers is one of the most emotional moments of a real estate transaction. Whether it’s a single buyer’s offer arriving quietly by email, or a room full of competing bids, knowing what to expect takes the edge off — and helps you make smarter decisions under pressure.

In Toronto, there are three types of offer situations a seller typically encounters. Here’s what each one looks like from your side of the table.

Scenario 1: A Regular Offer (Negotiation)

A “regular” offer means one buyer making an offer, with both parties having the opportunity to negotiate back and forth. This is how most offers work in a balanced or buyers’ market — and it’s more common today than in the peak years of 2021 and 2022.

Here’s how it typically unfolds:

• The offer arrives The buyer’s agent sends the Agreement of Purchase and Sale (APS) to your agent — usually by email. The buyer is not present. You and your agent review it in private.
• Your agent asks questions Your agent may speak with the buyer’s agent to clarify terms — the reason for conditions, whether the deposit is ready, flexibility on closing date. These conversations happen before you make any decisions.
• You review the key terms Price and deposit are obvious. But conditions, closing date, inclusions/exclusions, and the irrevocable deadline all matter and are negotiable.
• You choose: accept, counter, or decline A counter-offer (or “sign-back”) lets you change any term — price, closing date, removing a condition, adjusting inclusions. The buyer can then accept, counter again, or walk away.
• Time is everything Every offer has an irrevocable time. Once that deadline passes, the offer expires and the buyer is free to walk. If you sign a counter, you’re bound to that counter until it expires — you can’t take another offer while yours is outstanding.

What’s Actually in the Offer?

The Agreement of Purchase and Sale is the legal document that governs your transaction. When reviewing any offer, these are the elements your agent will walk you through:

• Price: The offered purchase price.
• Deposit: Higher deposits generally signal a more serious buyer. The deposit is held in trust by the listing brokerage until closing.
• Closing date: The date ownership transfers. This is negotiable and can be a point of significant leverage in either direction.
• Irrevocable date and time: When the offer expires if not accepted or countered.
• Conditions: Common conditions include financing (the buyer needs mortgage approval) and home inspection. Fewer conditions generally mean a stronger offer. Condition-free offers carry more risk for the buyer — and more certainty for you.
• Inclusions and exclusions: What stays (appliances, fixtures, window coverings) and what the seller is taking.

Scenario 2: Multiple Offers (Bidding War)

When demand is high and supply is tight, you may receive multiple offers simultaneously. This is the bidding war scenario that Toronto became known for in the years of ultra-low inventory.

In a multiple-offer situation, your agent will notify all competing buyers’ agents that they are in competition. Buyers then submit their “best” offers by the offer night deadline. You are not permitted to share one buyer’s terms with another buyer — but you can confirm that competition exists.

Your agent will organize all offers and present them to you together. You have three choices for each one: accept, counter (but you can only sign-back one offer at a time — not all of them simultaneously), or decline.

Smart sellers in a multiple-offer situation typically choose one offer to work with — usually the strongest overall, factoring in not just price but terms, closing date, and the strength of conditions.

Scenario 3: Bully Offers (Preemptive Offers)

A bully offer arrives before your scheduled offer night — usually accompanied by a short irrevocable period designed to pressure you into deciding before other interested buyers have a chance to submit.

The goal from the buyer’s perspective is to close the deal before competition materializes. From your perspective, it’s worth thinking carefully before engaging.

You are not obligated to look at a bully offer. If a buyer’s agent registers a bully offer, you have a choice: ignore it and proceed to your offer date, or engage with it. If you choose to engage, Ontario real estate rules require you to notify all agents who have registered interest in your property — giving them the opportunity to also submit their offers before you respond to the bully.

What Sellers Get Wrong on Offer Night

The most common mistake: making emotional decisions in the moment. Reacting to a low offer with offense rather than a strategic counter. Accepting the first offer out of relief when a stronger one might have been negotiated. Or, on the other end, holding out for a number that the market simply won’t support.

Your agent’s job is to filter the emotion out and help you see each offer clearly — what it’s actually worth in the context of the market and your situation, not what it feels like in the room.

What Comes Next After Acceptance

Once both parties have signed and you have a firm deal — and if you’re also planning to buy, this is a good moment to revisit whether to buy or sell first —, the buyer will deliver their deposit (usually within 24 hours). If there are conditions, the clock starts on the condition period — typically 3–10 business days depending on what was negotiated.

Once all conditions are waived and the deal is firm, your lawyer gets involved to handle the rest of the closing process. Your agent will also have their own checklist to keep things moving smoothly between acceptance and closing day. Before offer night, it’s worth reviewing the full cost breakdown for selling a home in Toronto so your net proceeds aren’t a surprise.

For the buyer’s perspective on what happens during the condition period, our guide to how offers work in Ontario covers both sides of the transaction in detail.