#GoodReads – Open Offers

Open Offers

Via RECO.

“…You may have seen articles in the media about open bidding, or an open offer process.

Buyers in Ontario who have made an offer on a property are entitled to know the number of competing offers…

You decide how much information you want to share about the competing offers.
Your agent will advise you based on the characteristics of your property, market conditions, the content of the offers you receive and other things.
You need to provide clear written direction to your agent before the content of any offers can be shared. Personal or identifying information contained in offers cannot be shared.

You decide whether you want to participate in a process where the content of your offer might be shared with other buyers.
Your agent can tell you the steps to take to avoid having the content of your offer shared with other buyers.
Be aware that the seller can make the decision to share the content of offers at any time. You may not know in advance. You may not know what parts of the offers will be shared…”

To read the full article, click here.