Home Buyer Checklist for 2027: Everything to Do Before You Make an Offer

By Jatin Dua · Broker of Record, RE/MAX Quantum Realty · Updated 2 November 2026 · 9 min read — Everything to do before you make an offer on an Ontario home in 2027: money, documents, property checks, condo checks and conditions.

This checklist is for anyone in Ontario, and especially the GTA, who plans to make an offer on a house or condo in 2027. Work through it before you sign an offer, because once a deal is firm, most of these checks are too late to change anything.

What should I do before making an offer on a house?

Before you offer, you should be able to tick off five groups of tasks:

1. Money: a full pre-approval, your down payment in place, and cash set aside for the deposit and closing costs.
2. Team: an agent under a written agreement you understand, a real estate lawyer, a home inspector and an insurance broker.
3. Property: what you know about its condition, permits, systems, flood history and running costs.
4. Condo documents: if it is a condo, the status certificate, or a plan to review it as a condition.
5. Offer terms: your top price, deposit, closing date and conditions, decided in advance.

The sections below turn each group into a list you can check off. If you want the full process from saving to keys, my first-time home buyer checklist for Ontario covers the months before and after this stage.

Is my financing ready? The pre-approval checklist

CMHC’s homebuying guide lists what to bring to your lender or mortgage broker:

• Government photo ID with your current address, and your address history.
• Your employer’s contact details and your work history.
• Proof of income.
• Proof of your down payment, showing the amount and where it came from.
• Statements for savings and investments.
• A list of your debts and other monthly obligations.

Before you apply, pull your own credit report and fix any errors. Then confirm three things with your lender in writing: the maximum price, the rate hold and how long it lasts, and the documents they will need once you have an accepted offer.

Remember that a pre-approval is not final approval. CMHC says the lender still has to accept the price and condition of the specific home. With the Bank of Canada raising its policy rate to 2.50% in October 2026 and big-bank prime at 4.70%, re-check your pre-approval if it is more than a couple of months old. My guide to what a pre-approval guarantees explains the gaps.

Check your monthly comfort, not just the approval

CMHC suggests keeping housing costs, including property tax, heating and half of any condo fee, at or under 32% of gross monthly income, and all debts at or under 40%. A lender may approve more. Decide your own limit before you see homes.

How much cash do I need before I make an offer?

You need your down payment, the deposit (which counts toward the down payment), and closing costs. CMHC says closing costs typically run 1.5% to 4% of the price. Here is a worked example for a first-time buyer at $800,000 with the minimum down payment.

Source: my calculation using federal minimum down payment rules, CMHC premium rates, Ontario’s land transfer tax rates and first-time refund, Toronto’s first-time buyer rebate, and Ontario’s published inspection fee range. CMHC says provincial sales tax on the premium cannot be added to the loan in Ontario, so budget for it in cash.

Keep the deposit money in an account you can draw on the same day. Ask your agent what deposit is usual for the home you want, and make sure the funds are not locked in a GIC or an investment that takes days to sell. For the full list of fees, read buyer closing costs in Ontario for 2027.

Have I checked the house itself?

RECO’s buyer checklist says to look into the age and condition of the plumbing and electrical systems and to find out whether renovations had proper permits. Before you offer, ask the listing agent or check yourself:

• Age of big-ticket items: roof, furnace, air conditioner, water heater, windows.
• Rentals: is the water heater, furnace or air conditioner rented? Ask for the contract and monthly cost.
• Permits: for a finished basement, a second unit, an addition or a removed wall. A basement apartment without permits may not be legal to rent.
• Water: any past basement flooding, a sump pump, a backwater valve. Ask an insurance broker for a quote on that address before you offer.
• Running costs: last year’s property tax and utility bills.
• Seller documents: any inspection report the seller ordered. Ontario says it can help, but buyers should still get their own.

Book the home inspection

Ontario says inspections typically cost $350 to $600 and that inspectors are not licensed in the province. Ask for a sample report, proof of insurance and references. An inspection is visual and is not a pass or fail test; it does not check zoning or building code compliance. Go in person and ask questions.

If there are competing offers and you cannot include an inspection condition, consider a pre-offer inspection, if the seller allows it. Do not simply skip it.

What should I check before making an offer on a condo?

The status certificate is the condo’s report card. Anyone can request one. The Condominium Authority of Ontario says the corporation can charge up to $100, including tax, and must deliver it within 10 days. It includes the declaration, by-laws and rules, the state of the reserve fund, and whether the unit owes any fees.

Check for:

• Any special assessment or planned fee increase. CAO says potential increases must be disclosed in clear language.
• The size and health of the reserve fund, and the latest reserve fund study.
• Any lawsuits or judgments involving the corporation, and its insurance certificates.
• Rules on pets, short-term rentals, renovations and leasing.
• Whether parking and locker are owned, exclusive-use or rented.

If the seller does not already have a recent certificate, make your offer conditional on your lawyer’s review of it. My guide to reading a status certificate like a buyer’s lawyer shows the red flags.

What legal checks should I do before I offer?

• Hire your lawyer now. Send them the draft offer if there is anything unusual: an estate sale, a power of sale, a tenant in place, a shared driveway, or a pool or easement.
• Read your buyer representation agreement. RECO notes a seller might not offer anything toward your agent’s fee. Know what you would owe in that case before you set your price.
• Check who is selling. An estate, a lender or a company selling can mean different closing risks.
• Survey and title insurance. CMHC notes you may need a survey for the mortgage, but title insurance may replace it. Ask your lawyer.
• Your status. If you are not a Canadian citizen or permanent resident, check the federal and provincial rules for foreign buyers first. My guide to what the foreign buyer ban catches is a starting point.

What conditions should I put in my offer?

RECO’s buyer checklist suggests making an offer conditional, where possible, on financing, a home inspection, the sale of your existing home, or other factors that matter to you. Common conditions in Ontario:

• Financing: gives you time to get the lender’s final approval on the property.
• Home inspection: lets you inspect and walk away or renegotiate if something serious turns up.
• Status certificate and lawyer review: for condos.
• Sale of your current home: if you own one and have not sold yet.
• Insurance: useful if the home has flooding history or old wiring.

Also write down exactly what is included, such as appliances, light fixtures and window coverings, and any repairs the seller must finish before closing.

What should I find out about the listing before I offer?

• Days on market and price history: a home that has been relisted or reduced gives you room to negotiate.
• Recent sales nearby: ask your agent for sold prices of similar homes in the last three months, not asking prices.
• Offer process: is there an offer date, or are offers taken anytime? Is there a registered offer already?
• Seller’s timing: a flexible closing date can be worth more to some sellers than a higher price.

What to do next

1. Check your budget with the affordability tool on this page and gather the CMHC document list for your lender.
2. Move your deposit and closing cash into an account you can access the same day.
3. Line up a lawyer, an inspector and an insurance broker before your first showing.
4. For each home you like, ask for permits, rental contracts, utility costs and, for condos, the status certificate.
5. Write down your top price and must-keep conditions before you sign any offer.

Frequently asked questions

Sources

• CMHC: Homebuying Step by Step guide
• CMHC: Mortgage loan insurance cost
• RECO: Buyer’s checklist
• RECO: Competing offers (buyers)
• Government of Ontario: What to know before buying a home
• Condominium Authority of Ontario: Status certificates
• Ontario: Land transfer tax refunds for first-time homebuyers
• City of Toronto: Municipal land transfer tax rebate opportunities

Related reading

• Biggest Condo Developers in Toronto: Track Records Buyers Should Check
• Is It a Good Idea to Buy a Condo in Toronto in 2027?
• Buying a House in Ontario on a Work Permit (2027): What the Foreign Buyer Ban Allows
• Can You Buy a House With No Down Payment in Ontario?