New Real Estate Regulation to Let Ontario Homebuyers See Competing Bids If the Seller Agrees

New Real Estate Regulation to Let Ontario Homebuyers See Competing Bids If the Seller Agrees
A for sale is sign is displayed in front of a house in the Riverdale area of Toronto on Sept. 29, 2021. The Canadian Press/Evan Buhler
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The Ontario government has introduced new real estate legislation effective a year from now that would allow homebuyers to see all their competitors’ bids on the property, that is, if the seller agrees to disclose the information.

Under the current system, a potential buyer looking to put an offer on a house has done so blindly, without knowing how much their competitors are offering above the asking price.