Goodbye Blind Bidding? Ontario to Allow Home Buyers to See Other Offer Prices

by | Apr 21, 2022 | Blog

The Ontario government is bringing forward new regulations, set to take effect next year, that would allow home buyers to see all competing offer prices — but only if the seller agrees. The new open bidding option would begin next April, the province confirmed. Under current regulations, real estate agents are required to share the number of bids, but are prohibited from sharing details of those competing offers…It’s not yet clear how many sellers would opt to share this information, but Tim Hudak, CEO of the Ontario Real Estate Association, expressed his support of the province’s decision, saying that it will bring more transparency to the home buying and selling process.

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