How to Make an Offer on a House in Canada (2026)

You've found the house. Now comes the moment that makes most buyers nervous — putting an offer in writing and committing real money to it. In 2026 the offer process in Canada is still governed by a binding contract called the Agreement of Purchase and Sale, and understanding each part of it is the difference between a confident offer and an expensive mistake. Here's exactly what goes into an offer, how conditions protect you, and what happens once the seller says yes.

The short answer

To make an offer on a house in Canada, you (usually through your real estate agent) submit a signed Agreement of Purchase and Sale that sets out the price, deposit, closing date, included items, conditions (such as financing and inspection), and an irrevocable period the seller must respond within. A conditional offer lets you walk away if a condition isn't met; a firm offer has none and is binding once accepted. Getting pre-approved first lets you offer with confidence and makes a financing condition far safer.

What an offer actually is

An offer is not a casual expression of interest — it is a written contract. In most provinces it's called the Agreement of Purchase and Sale (APS); in British Columbia it's the Contract of Purchase and Sale. Once you sign it and the seller accepts (signs back) within the irrevocable period, you have a legally binding deal. That's why every term matters and why you should never sign blank or rushed paperwork.

The components of an offer

A complete Agreement of Purchase and Sale typically includes:

1. Purchase price — the amount you're offering, which may be above, at, or below the list price depending on the market.
2. Deposit — the good-faith money you put down, usually within 24 hours of acceptance. It's held in trust and credited toward your down payment at closing.
3. Closing (completion) date — the day ownership transfers and you get the keys. Often 30 to 90 days out, but negotiable.
4. Conditions (subjects) — protections that must be satisfied for the deal to firm up, such as financing, home inspection, and review of the status certificate for a condo.
5. Irrevocable period — the deadline by which the seller must accept, reject, or counter your offer (commonly 24 to 48 hours).
6. Inclusions and exclusions — what stays with the home (appliances, light fixtures, window coverings) and what the seller is taking.
7. Title and other terms — confirmation of clear title, any rental items (hot water tank, furnace) you're assuming, and similar details.

Firm vs. conditional offers

A conditional offer includes one or more conditions that must be met within a set number of days. If a condition isn't satisfied — say your financing falls through — you can walk away and get your deposit back. A firm offer has no conditions: the moment it's accepted, you're committed, deposit at risk. Firm offers are stronger and more attractive to sellers, but you should only make one if your financing, inspection, and other concerns are already handled. In a calmer 2026 market, conditional offers are more common and accepted than during the frenzied bidding of past years.

How the financing condition protects you

A financing condition (often three to five business days) gives your lender time to confirm the deal — including ordering an appraisal — before you're locked in. If the lender won't fund the purchase at the price you offered, you can exit cleanly. This matters because a pre-approval confirms you as a borrower, but the lender still has to approve the specific property. The appraisal can come in below your offer price, especially if you've offered over asking. A financing condition is your safety net for exactly that scenario — and it's far safer when you walk in already pre-approved. Use the affordability calculator to confirm your price range before you write anything.

How much deposit is normal?

There's no fixed rule, but deposits commonly run from 1% to 5% of the purchase price, with larger or more competitive markets trending higher. The deposit is not extra money — it's credited toward your down payment at closing. A larger deposit signals a serious buyer and can strengthen your offer. Be aware that if you sign a firm offer (or your conditions are met and you then back out), you risk losing the deposit.

Multiple offers and bully offers

In a multiple-offer situation, the seller reviews several competing offers at once and you typically don't know the other prices. Buyers often respond by removing conditions and raising their price — which is why being pre-approved beforehand is so valuable, since it lets you compete without gambling on financing. A bully offer (pre-emptive offer) is when a buyer submits a strong, often firm offer before the seller's scheduled offer date, hoping to grab the property before competition arrives. These move fast, so your financing readiness has to be locked in advance.

A worked example

Imagine a $700,000 home. You're pre-approved and offer $690,000 with a 3% deposit ($20,700), a financing condition of four business days, a home-inspection condition of three days, a 60-day closing, and a 24-hour irrevocable period. The seller counters at $700,000; you accept. Your deposit is delivered into the listing brokerage's trust account the next day. Over the following days your lender appraises the home and confirms financing, your inspector clears the property, and you sign waivers removing both conditions. The offer is now firm — and that $20,700 deposit becomes part of your down payment at closing.

What happens after acceptance

Once your offer is accepted and any conditions are waived, the deal is firm. From there: you notify your lender to finalize the mortgage, you retain a real estate lawyer to handle title and closing, your deposit sits in trust, and you arrange home insurance (lenders require it). On the closing date, funds move, title transfers, and you get the keys. First-time buyers can see the whole journey in our first-time buyer mortgage guide.

Frequently asked questions

Is an offer on a house legally binding in Canada?

Yes. Once you sign the Agreement of Purchase and Sale and the seller accepts within the irrevocable period, it's a binding contract. Conditions give you defined ways to exit; a firm offer does not. Always read it carefully before signing.

Can I get my deposit back if my financing falls through?

If your offer includes a financing condition and your lender declines, you can typically exit and recover your deposit. Without that condition (a firm offer), backing out usually means losing the deposit. This is why pre-approval matters.

How long does a seller have to respond to my offer?

As long as the irrevocable period you set — commonly 24 to 48 hours. After that the offer expires unless the seller has accepted or you've extended it.

Should I make a conditional or firm offer?

Make a firm offer only when your financing, inspection, and condo documents (if applicable) are already sorted. Otherwise a conditional offer protects you. In a balanced 2026 market, conditional offers are widely accepted.

What's the difference between the deposit and the down payment?

The deposit is the good-faith money you provide shortly after acceptance, held in trust. It's not additional — it's applied toward your total down payment when the deal closes.

Ready to make an offer with confidence? Get pre-approved first so you know your budget and can compete cleanly, ask Maya any quick question, or contact us to build your strategy before you sign anything.