The Canadian Press, April 19, 2022
TORONTO — The Ontario government is giving property sellers the option of disclosing the details of competing offers, but not going as far as to ban blind bidding.
Minister of government and consumer services Ross Romano said in a statement that sellers will get to choose if they want to “opt for an open offer process” and share bids.
“Sellers will no longer be limited to selling their property through a closed or traditional offer system,” he said.
Blind bidding, a practice where buyers bid for a home without knowing the size of competing offers, is pointed to by some as one of the drivers behind inflated home price gains. READ MORE >>
OTTAWA – The Canadian Real Estate Association says home sales in Canada fell in March, while prices were up 11.2 per cent compared with a year earlier.
The association says home sales in March were down 16.3 per cent compared with the same month last year when they hit an all-time record. READ MORE >>