 (1).png)
If you’ve shopped for a home in Mississauga, you’ve probably seen “offers reviewed on Tuesday at 7 PM.” Here’s what that means and how to play it, whether you’re buying or selling.
What is an offer date?
The seller lists the home and asks buyers to submit offers on a set day, usually about a week after listing. That gives every buyer time to view the home, and gives the seller a chance at several offers at once.
What is a bully offer?
Also called a pre-emptive offer: a buyer submits a strong offer before the offer date, usually with a short deadline, hoping the seller accepts it rather than waits. The seller doesn’t have to look at it.
| Offer date | Bully offer | |
|---|---|---|
| For sellers | Can bring multiple offers and a higher price | Can lock in a strong price early |
| Risk for sellers | Fewer offers than hoped on the night | Might have got more on the offer date |
| For buyers | Fair chance for everyone | Can win before the competition shows up |
| Risk for buyers | Bidding against others, often with no conditions | Usually means paying a premium |
Tips for buyers
- Get pre-approved and know your true maximum before offer night.
- Ask whether the seller has a pre-listing home inspection you can review.
- Look at recent sold prices, not the list price, to set your number.
- A certified deposit cheque and a flexible closing date can make your offer stand out.
Tips for sellers
- Decide in advance whether you will consider bully offers.
- Price and prepare the home so it draws attention in its first week.
- Make the house easy to show, so every buyer sees it before the offer date.
Buying or selling in a competitive market? Book a quick call and I’ll explain the strategy for your situation.
