Promise to purchase and multiple offers: preparing your strategy

An offer is not just a price. Set your limits, understand the conditions and have the deadlines checked before signing.

Set your limit before submitting an offer

Set a budget with your lender and determine the conditions that matter for your situation. Competition should not push you beyond a limit you have set.

A property’s value depends on its features and relevant comparables. Avoid relying only on the supposed offers of other buyers.

Consider price and conditions together

Price, deadlines, occupancy date, inclusions and conditions can all matter in a promise to purchase.

Before waiving or changing a condition, understand the consequences and the protections you could lose. Ask for a clear explanation before signing.

Don’t neglect the checks

Financing, inspection and document review can be important steps depending on the property and your situation.

Clauses and their effects deserve tailored professional advice. This guide is for information purposes and does not replace legal or financial advice.