Avoid Home Headaches: What to Add to Your Terms and Conditions
When you’re buying a home, there’s a lot to think about. And, if you’re a first-time home buyer, you’re probably feeling overwhelmed and unsure about what to do. After all, this is likely the biggest purchase you’ll ever make—and the largest amount of money you’ve ever spent. So, you want to make sure you don’t forget anything. Here are some important things you’ll want to consider adding to your terms and conditions on your real estate purchase.
Subject To Inspection
Having a home inspection done on a property you’re about to purchase is non-negotiable. There may be something wrong with the home that even the seller is unaware of. You must know the condition of the house you’re buying before you commit. You don’t want to be stuck with a bunch of repairs which will suck up a lot of time and money.
Having this condition in your offer means that if the inspection does show some issues which need to be dealt with you can walk away from the offer you’ve made. You can then permanently walk away or you can put in an offer of a lower price.
Subject To Home Inspection
Subject To Finance
Although you’ve likely already checked with your mortgage lender regarding the amount you qualify for, you still need to confirm your financing will be in place before you put an offer in on a home. When this clause is included, you can withdraw your offer without penalties.
Sale Of Your Current Home
If you’ve put in an offer on a home but haven’t sold yours yet, you should put the sale of your home as a condition on your offer. Unless you can manage to come up with the financing to buy the second house without selling your first, this is very important to remember.
Now, you must be fair and not expect the home seller to keep their home off the market for months while you attempt to sell your home. A specific time period given to sell your home—usually about 2-6 weeks—should be included with this clause.
Who Pays Closing And Other Costs
There are quite a few costs over and above the purchase price associated with a real estate transaction. These costs are commonly paid for by the buyer but can be split in any way if the seller and buyer come to a different agreement.
If this is the case, it should be officially placed in the terms and conditions of your offer so there’s no confusion. You’ll want to put in the exact amount the seller has agreed to pay and how these costs will be split—either in a percent or a dollar amount.
What You Want To Be Included In The Sale
If you expect to get all the appliances and fixtures you saw during the showing, then put them all down as conditions in your offer. The same goes if you don’t want them and would like some or all of them removed before your possession date.
Even if you were told verbally during the showing which appliances and fixtures would be included in your purchase, you likely still want to add them to the clauses in your offer. This will avoid any miscommunications.
What You Want To Be Included In The Sale Of Your Home Or Condo
When The Closing Date Will Be
You and the seller must agree when a fair closing date will be, and this should be put in writing in the offer. Typical closing dates range from about 30 to 60 days but can happen earlier or later. This may also be attached to your “subject to financing” and “sale of your current home” clauses.
Anything Else You Want To Be Done
If it’s very important to you that something is done to the house or property before you purchase it, this can also go into your offer as a clause. Perhaps you would like some trees and bushes removed or an old shed in the yard hauled away. This can also include the seller having a professional cleaning done prior to the possession date, removing unwanted carpeting, or replacing certain finishes within the home.
A qualified, knowledgeable real estate agent will be able to advise you on which clauses should go into your purchase agreement. If you’re looking to buy real estate in Oakville, Hamilton, Mississauga, or Burlington, contact Alex Irish & Associates. No matter if it’s a new home for sale in Hamilton or a luxury condo or townhome for sale in Burlington, we can help make your transaction go as smoothly as possible.
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August 2025 GTA Real Estate Market Update | Regan Irish
The August 2025 GTA Real Estate Market Update reflects renewed momentum and affordability in Toronto, Oakville, Mississauga, Burlington, and Muskoka. Thanks to steady interest rates and appealing home prices, July proved surprisingly dynamic. Let’s dig into the numbers and what they mean for you.
Interest Rates Remain Stable — Affordability Fueling Activity
In July 2025, the Bank of Canada maintained its key rate at 2.75%, its third consecutive pause. With lower borrowing costs now more accessible, affordability is encouraging a wave of renewed buyer activity.
GTA Market Overview: Sales Surge, Prices Slightly Dip
- Home Sales: 6,100+ transactions region-wide, marking a 10.9% increase YoY and the strongest July since 2021.
- Month-over-Month: Seasonally adjusted sales rose 13% from June to approximately 5,744 units, the biggest monthly gain in nine months.
- New Listings: Up 5.7% YoY, totaling 17,613 new offers.
- Price Trends:
- The MLS® Home Price Index (HPI) Composite Benchmark fell 5.4% YoY.
- The average GTA selling price dropped 5.5% YoY to around $1,051,719.
- Word on the street indicates the HPI drifted slightly lower—about $979,000, down 0.2% from June.
What It Adds Up To: Buyers are back in force—sales are outpacing new listings while prices softened, creating renewed market opportunities.
City Highlights
Toronto
A more balanced landscape—but some segments remain soft. Condos and detached homes see inventory rising; semis are steadier.
Oakville, Mississauga, Burlington & Muskoka
While TRREB doesn’t break down by city in these reports, regional trends suggest:
- Mississauga & Burlington: Strong rise in listings and dipping average prices give buyers leverage.
- Oakville: Stability in demand for luxury keeps discounts modest.
- Muskoka: Continued strong interest in sub-$2M waterfront properties should benefit from broader GTA momentum.
What This Means for You
- For Buyers:
Renewed affordability, rising inventory, and favorable interest rates make August a prime time to move. - For Sellers:
A more balanced market—strategic pricing and quick response will be key to success. - For Investors & Cottage Buyers:
Strong July sales in the GTA point to increasing investor interest; Muskoka remains a high-value lifestyle and investment destination.
Work With the GTA Real Estate Experts
Whether you’re planning to buy a Muskoka cottage, invest in a luxurious Oakville property, or explore options across Toronto, Mississauga, or Burlington, now is the time to act.
Regan Irish & Associates specializes in luxury, resale, and investment properties across the GTA and Muskoka. Our market insight and negotiation skills help you get the best results—whether buying, selling, or investing.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
Visit reganirish.com
Let’s make today’s market your opportunity—contact us today!
Ultimate Guide to Downsizing Your Home in Canada
Alex Irish & Associates and The Regan Team Announce Strategic Merger
Two of the most respected names in real estate, Alex Irish & Associates and The Regan Team, are excited to announce a strategic merger that will combine their expertise, resources, and market reach. This partnership of Regan Irish & Associates brings together the strengths of both firms, offering an enhanced real estate experience for clients across Southern Ontario, including expanding into new regions like Collingwood and Muskoka. The merger reflects both brokerages’ long-standing commitment to providing high-quality, relationship-focused service while leveraging new technologies and business strategies to ensure their clients receive unparalleled support.
“Alex is the consummate professional,” said Matthew Regan, CEO of The Regan Team. “She embodies the qualities of a person I would trust with my own home sale, and I am excited to partner with her to combine the best of both our brokerages. Our goal is to create a work culture that allows our agents to thrive, while being confident and equipped to provide the service our clients deserve. Our clients are going to benefit immensely with a wider and deeper net of potential buyers and an even further reach in marketing and advertising.”
Alex Irish, Founder of Alex Irish & Associates, emphasized that this partnership is the next natural step for her business. “By combining our resources and efforts we knew we’d be able to create a better real estate experience for our clients, our agents and business partners.” she explained. “This merger allows me to focus more on client relationships while also mentoring our agents who can continue to offer that same high level of service. Matthew has built a business model that aligns with my long-term vision, allowing us to scale while still maintaining the personal touch. Simply put, we are better together.”
Alex has built her brand over decades, particularly in the Oakville area, where her name is synonymous with excellence in real estate. Her personal approach, based on referrals and repeat business, has earned her a loyal clientele. Matthew has focused on recruiting top agents and scaling his business, growing The Regan Team to one of the top brokerages in Canada. This merger offers an exciting opportunity to grow into new territories. Together, the merged brokerage will have 15 offices spanning from Niagara to Toronto to Muskoka. This expanded presence means more resources for clients, from enhanced marketing capabilities to a wider net of potential buyers.
The merger will officially take effect on October 31, 2024, and the new branding and operations will be rolled out in the coming months.
About Alex Irish & Associates
Alex Irish & Associates, led by Alex Irish, is a highly respected name in Oakville, known for its personalized, referral-based business model and long-standing relationships with clients. Alex has built her brand on trust, excellence, and attention to detail, qualities that will remain at the forefront of the merged firm.
About The Regan Team
The Regan Team has a long-standing reputation for innovation, process-driven operations, and a focus on agent recruitment and development to provide the highest level of service for their clients. Under Matthew’s leadership, the brokerage has expanded its presence across Ontario, providing agents with the tools and support needed to succeed in a competitive market. For more information on this exciting merger, please contact Matthew Regan.