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Residential TradingOffer ProcessEASY

In an Ontario resale offer, how long is the period for fulfilling or waiving a financing or inspection condition?

Correct Answer

A) Whatever period the parties write into the agreement

No statute or regulation fixes a condition period in Ontario. The deadline is whatever the buyer and seller write into the condition, for example a time on a stated date or a number of business days after acceptance.

Answer Options
A
Whatever period the parties write into the agreement
B
24 hours from acceptance, as required by law
C
Three to seven business days, as set by the regulation
D
Thirty days from acceptance, as set by RECO

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Key Terms

condition periodnegotiationfinancing conditioninspection condition
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