Terminology Tuesday: Encroachment

An encroachment happens when something on one property crosses over onto a neighboring property without permission. That “something” is physical and visible, like a fence, a shed, a driveway, or even part of a house. Sometimes it’s obvious (like a fence clearly in the wrong spot), but other times it’s subtle—like a retaining wall that’s just a few inches over the lot line.

Encroachments are usually discovered during a survey or when reviewing title documents. And while they might sound like a big deal, not all encroachments are deal-breakers. In fact, many exist for years without causing any issues at all.

That said, they can become a problem—especially when a property changes hands. A buyer might not be thrilled to learn that part of what they thought they were buying actually belongs (legally) to the neighbour. Or vice versa.

So what happens next?

Title insurance often covers minor encroachments, which is one reason it’s so common in Canadian real estate transactions. The parties may agree to a written permission, allowing the encroachment to remain.
In some cases, the issue may be have to be resolved by moving or removing the structure—though that’s obviously the least popular option for at least one party.

The key takeaway? Encroachments are not something you see every day, but they are more common than people realize, and they’re usually manageable with the right guidance. Like many things in real estate, it’s not about avoiding every possible issue—it’s about understanding what you’re dealing with and making informed decisions.

Market Media Monday - May 11, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ A Look into Canada’s Housing Market: Spring 2026 ]
"The Canadian Real Estate Association (CREA) statistics team releases a monthly data about home sales in Canada, as well as quarterly forecast. This month, both reports were produced. Here’s a summary of what you need to know about the state of the housing market activity in Canada right now. "

[ Has Toronto's condo market hit its bottom? ]
"After a year of sluggish sales and cancelled projects, the condo market in Canada’s largest city is showing signs of recovery."

[ More sellers spring into Canada’s housing markets ]
"Local real estate boards’ early results for April continue to show to mixed picture across Canada’s housing markets, but it’s clear more sellers are entering the market."

[ Renewing your mortgage but planning to sell soon? Read this first ]
"For many Canadian homeowners, renewing into a fixed-rate mortgage feels like the “safe” move right now. It eliminates uncertainty with predictable monthly payments. But if you are planning to sell your home within the next year, that decision could quietly cost you thousands of dollars in mortgage penalties. And here’s the surprising part: the biggest financial risk may have nothing to do with the mortgage rate itself."

Market Media Monday - May 4, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ The Bank of Canada is holding the interest rate at 2.25%, here’s what that means for the housing market ]
"The maintenance of the interest rate was announced on Wednesday, prompted by economic uncertainty caused by changing trade relationships and the ongoing U.S.-Iran conflict. The bank says it is watching out for the impacts of the war, including the effects on oil price increase on inflation. If these keep going up, the rate could also be hiked moving forward."

[ Bank of Canada Downgrades Housing, Warns of Small Condo Glut ]
"The Bank of Canada (BoC) left its key overnight rate unchanged at 2.25% at this morning’s rate announcement. The move was expected, but the housing downgrade in the BoC’s April Monetary Policy Report (MPR) is the real story. Housing received the largest negative revision in the 2026 GDP breakdown, and is expected to weigh on real GDP growth. The central bank suggests it’s not just an issue of rates, with weak investor interest and an epic glut of small condos also weighing on activity."

[ Will Canada's real estate market heat up with the Bank of Canada holding its key interest rate? ]
"Realtor Tom Storey talks about how the Bank of Canada holding its key policy interest rate at 2.25 per cent impacts the housing market."

[ Why timing the bottom of Canada's roller-coaster real estate market may be harder than you think ]
"Everyone connected to Canada’s housing market is asking the same question as the spring market, historically the busiest time of year, gets underway: Have we hit the bottom? From realtors to economists to lenders to developers — not to mention would-be home buyers and sellers — all are looking for signs of whether the real estate market will finally see a turnaround from declining prices."

"I get my deposit back, right?"

When making an offer on a property with some conditions - maybe mortgage or home inspection - one of the common questions a buyer may ask is to confirm that they will get the deposit back if the conditions don't work out and the purchase falls apart.

Most standard offer conditions* include wording that if conditions are not fulfilled by a certain time frame then "this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction."

So in short, the answer is that you will get the deposit back.  

However, there are some qualifications to the answer a buyer should be aware of.

First, you have to be acting in good faith.  Having a condition on a home inspection does allow a way out.  And with the usual wording* indicating that the inspection report must be acceptable in the buyer's sole and absolute discretion, there is a LOT of wiggle room on why the buyer might back out after the inspection.  [Courts have agreed that buyers can cancel on what sellers would feel are insufficient reasons] because it is in the buyer's sole and absolute discretion..  BUT the buyers do have to be seen as acting in good faith, too.  One can not cancel the contract based on an inspection condition if one has not even attempted to do a home inspection. The courts can take a dim view of someone trying to use a condition to back out of a deal outside of the parameters of the condition.

Second, buyers should be aware of the trust nature of the deposit.  When money is put into a brokerage's trust account, it is being held 'in trust'.  Essentially the money belongs to no one and can not be released by the brokerage without the express written consent of both parties (or court order and a couple other exceptional situations) or according to the contract, such as when a sale closes and it is applied toward purchase price.  So when a buyer wants to cancel a purchase after a condition has legitimately failed, the seller still has to sign off on returning the deposit. You may have a legal right to it according to the contract, but the brokerage is not allowed to release it without that written consent from both sides. If the seller decides to be unreasonable, then it may come to litigation. Their agent and lawyer should be cautioning them about this, so it's unlikely they will remain too obstinate about it. 

Having said all that, I have never personally had an issue with a deposit being returned to a buyer client, but we know strange things happen out there. But for all practical purposes and in most times and places, the answer should be, "Yes, you will get the deposit back." 

* the Ontario Real Estate Association (OREA) has a library of standard clauses and conditions which real estate professionals use in drafting contracts. One must be careful to check the wording of every offer, especially if professional REALTORS®  are not involved, because it is easy to alter wording and drastically alter meaning and end results.

Terminology Tuesday: Easement

An easement is a common but often misunderstood concept in Ontario real estate. In simple terms, an easement is a legal right that allows someone else to use a portion of a property for a specific purpose—even though they don’t own it.

In Ontario, easements are most often seen with utility companies. For example, a hydro or gas provider may have the right to access part of your land to install, maintain, or repair infrastructure like power lines or pipelines. Municipalities may also have easements for things like stormwater drainage or sewer systems. In some cases, neighbouring properties may benefit from an easement—such as a shared driveway or a right-of-way to access a landlocked parcel.

It’s important to understand that while you still own the land, your use of the easement area can be restricted. You typically can’t build permanent structures over it or do anything that would interfere with the purpose of the easement. For instance, building a shed or planting large trees over underground utilities could cause issues down the line.

Easements are registered on title and will appear during a title search, which is why reviewing these details is a key part of any real estate transaction. Buyers should take the time to understand how an easement might affect their use and enjoyment of the property. Sellers, on the other hand, should be aware of any easements on their property and be prepared to disclose them.

If you’re unsure how an easement impacts a property you’re buying or selling, working with a knowledgeable REALTOR® can help you navigate the details and avoid surprises.

Market Media Monday - April 27, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ From where the deals are to where prices dropped most, 5 key things to know about the spring real estate market ]
"Spring is traditionally when Canada’s housing market shifts into high gear. But this year it’s idling, despite four consecutive years of price reductions nationally. Home sales held essentially flat in March and listings remain subdued according to the Canadian Real Estate Association (CREA). At the same time, new data from real estate company Royal LePage show conditions diverging sharply across regions with certain markets still seeing price growth while others remain under pressure."

[ Where Canada's condo market is headed: FP Video ]
"FP Video puts real estate in focus this week with an investment manager’s take on the best buys in REITs and an update from Urbanation on Canada’s crumbling condo market. Trade lawyer Mark Warner fills us in on the latest in Canada, U.S. trade negotiations."

[ Rate cuts seen as more likely next move for Bank of Canada: TD ]
"Just as inflation and interest rates began to settle, trade tensions with Canada’s largest trading partner resurfaced. Now, higher fuel prices driven by conflict in the Middle East are fuelling renewed inflation concerns, while the growing impact of AI is casting a shadow over the labour market."

[ Mortgage debt rising fastest among Canadians nearing retirement, data show ]
"Canadians nearing retirement are taking on more mortgage debt, with those aged 55 to 64 posting the fastest growth in 2025. Statistics Canada data show mortgage balances for that group rose about 6% year-over-year, as many tap home equity to fund investment purchases or help younger family members enter the housing market."

Market Media Monday - April 20, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Canadian Real Estate Association downgrades housing market forecast due to 'oil shock' ]
"The Canadian Real Estate Association (CREA) has downgraded its housing market forecast following a jump in fixed mortgage rates and weaker than expected housing sales in the first three months of 2026. CREA had been forecasting higher sales based on the idea that pent-up demand would emerge, especially from first-time buyers. But in the second half of March, inflation caused by a spike in oil prices raised the odds of a Bank of Canada rate hike, which raised bond yields and caused a jump in fixed mortgage rates."

[ Commercial real estate market at turning point as vacancies drop: report ]
"Canada’s commercial real estate sector could be at a turning point after the national vacancy rates for both office and industrial properties simultaneously declined for the first time since 2020, a new analysis has found."

[ First-time homebuyers have returned to the market—with a little help from their parents ]
"First-time homebuyers living in this city depend more on their parents to cover their mortgages and interest payments than ever before, according to a new Bank of Canada report. It found that the percentage of Torontonians who co-signed with a parent is 13.8 per cent, up from 4.1 per cent in 2004."

[ Fixed or variable? Four experts weigh in as volatility clouds the decision ]
"With two-thirds of homeowners feeling uneasy about their upcoming renewal, and about a third of prospective buyers planning to make a purchase in 2026, according to the TD survey, we reached out to several mortgage experts to ask for their product recommendations. "

Market Media Monday - April 13, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Why timing the bottom of Canada's roller-coaster real estate market may be harder than you think ]
"Everyone connected to Canada’s housing market is asking the same question as the spring market, historically the busiest time of year, gets underway: Have we hit the bottom? From realtors to economists to lenders to developers — not to mention would-be home buyers and sellers — all are looking for signs of whether the real estate market will finally see a turnaround from declining prices. "

[ Canada’s housing market outlook gets a downgrade from TD ]
"The past six months of weakness in Canada’s housing market have led to one of the nation’s big banks downgrading its forecast for the rest of the year. TD Economics released a revised housing market outlook at the end of March, updating its original predictions for 2026, which were released in December."

[ These forces could push up Canada's home prices later this year: FP Video ]
"This week FP video looks at the chance of real estate prices escalating in the second half of the year, the impact of oil market volatility on the agriculture sector, why the geopolitical tension has been good news for Canadian bonds, and why investment managers are optimistic about this earnings season."

[ Toronto real estate market finally showing signs of life but prices are still sliding ]
"Toronto's real estate market showed a split picture last month as sales increased for the first time in several months while prices continued to fall, according to the latest report from the Toronto Regional Real Estate Board (TRREB)."

[ Mortgage rates are rising: why breaking your mortgage could cost more ]
"Government of Canada 5-year bond yields have been rising since the start of the war in Iran, pushing fixed mortgage rates higher — but posted rates have not always moved in step."

Terminology Tuesday: Chattels

In real estate, the term “chattels” refers to items that are not permanently attached to a property and can be removed without damaging the home. In simple terms, they’re the things you can pick up and take with you when you move.

Common examples of chattels include appliances like refrigerators, stoves, washers and dryers (unless built-in), as well as furniture, area rugs, and even things like window coverings if they’re not permanently installed. Because chattels are considered personal property—not part of the real estate itself—they are not automatically included in a sale unless specifically written into the agreement.

This is where things can get important for both buyers and sellers. If a buyer falls in love with a particular item—say, a sleek stainless steel fridge or custom bar stools—they need to make sure it’s listed as an included chattel in the Agreement of Purchase and Sale. On the flip side, sellers should clearly identify anything they intend to take with them to avoid misunderstandings.

The key takeaway? Don’t assume anything. In real estate, what stays and what goes should always be clearly spelled out in writing—because when it comes to chattels, if it’s not included, it’s not coming with the house. 

Market Media Monday - March 30, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Canadian Real Estate’s Biggest Crash Since The ‘90s To Worsen: BMO ]
"Canadian real estate’s downturn shows no signs of reversing, according to a Big Six bank. BMO Capital Markets is warning investors that home prices haven’t moved in nearly a decade, once adjusted for inflation. Now in the middle of the largest correction since the 90s, the bank sees inflation accelerating in the coming months, eroding real prices further."

[ TD cuts housing forecast but warns pent-up demand could be ‘unleashed faster or more forcefully than expected’ ]
"The buyers are out there. They’re just waiting. And according to a new TD Economics report released Thursday, the window for winning them over may finally be opening. Economist Rishi Sondhi says a pool of pent-up demand is waiting in the wings in markets across Canada, particularly in Ontario and B.C., and that improved economic conditions and affordability gains could help unlock it heading into 2027."

[ Ontario’s budget banks on a housing resale rebound in 2026 — but real estate players aren’t so sure ]
"The Ontario government is budgeting on a housing resale market rebound this coming year, with its new fiscal plan counting on more homes changing hands and hundreds of millions of dollars more revenue from land transfer taxes."

[ 9 Tips for a Successful Mortgage Renewal in Canada ]
"Renewing your mortgage can significantly impact your financial situation. Whether you’re a first-time buyer or a seasoned homeowner, assessing your options when your mortgage is up for renewal and shopping for the best rates is critical to saving money over the life of your mortgage. Read on for valuable tips and advice for your next mortgage renewal."

[ Mortgage affordability worsens in most major Canadian cities, report says ]
"It became harder for Canadians in most major cities to afford a mortgage in February, a new report by Ratehub.ca found on Thursday."

[ Why waiting to lock in your variable rate often backfires ]
"One of the biggest draws of variable-rate mortgages is that they give you options. For starters, variable mortgage prepayment penalties are generally cheaper than their fixed-rate counterparts."

Market Media Monday - March 23, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Home sales, listings and prices down nationally, says CREA ]
"The latest real estate numbers are out and they paint a picture of a Canadian housing market on a downward slide. By most measures in Canada, real estate is down. According to the Canadian Real Estate Association (CREA), there are fewer sales and prices are declining in February from the previous month."

[ Home purchased for nearly $1M sells at 45% loss in southern Ontario ]
"Hamilton has seen price declines in the last year or more. Last month, it was one of five major cities that saw a decline in prices year-over-year, according to a House Price Index report from Wahi, a Canadian real estate platform, and Real Property Solutions, a Canadian provider of property valuation services. Hamilton’s price index was down six per cent last month."

[ The Bank of Canada is holding its interest rate. For now ]
"The Bank of Canada (BoC) announced it is holding its interest rate steady at 2.25%. The March 18 decision is the second rate hold of 2026 as the BoC also held its rate in January. TD Economist Maria Solovieva said that inflation is currently within the BoC’s target of 1-3%, and while GDP growth is muted, it’s still within a reasonable range. Even with tariffs, the economy is still chugging along for now."

[ Mortgage Digest: Bond yield spike drives latest fixed mortgage rate hikes of up to 30 bps ]
"Canadian fixed mortgage rates have moved decisively higher, with lenders rolling out increases of up to 30 basis points as bond yields continue their rapid climb."

[ Bank of Canada Interest Rate Explained and How It Shapes Your Mortgage ]
"The Bank of Canada’s policy rate, also known as the overnight rate, plays a critical role in shaping the financial landscape of the country. It directly influences borrowing costs, including mortgage rates, and can have a significant impact on homeowners and prospective buyers. Understanding how changes in the policy rate affect your mortgage is essential for managing your finances effectively."

Terminology Tuesday: Amortization

If you’ve ever looked at a mortgage breakdown and wondered why most of your early payments seem to go toward interest rather than the loan itself, you’re already brushing up against the concept of amortization.

Amortization refers to the total length of time it takes to pay off your mortgage in full, assuming regular payments and a consistent interest rate. In Canada, the most common amortization period is 25 years, though longer or shorter options may be available.

Here’s how it works: your mortgage payment is structured so that you pay both principal (the amount you borrowed) and interest (the cost of borrowing) with each payment. However, in the early years of the mortgage, a larger portion of your payment goes toward interest. Over time, that balance gradually shifts, and more of each payment starts reducing the principal.

Think of amortization as the timeline of your debt payoff. A longer amortization period (like 30 years) typically means lower monthly payments, but you’ll pay more interest overall. A shorter amortization (like 20 years) increases your monthly payment but helps you save significantly on interest and become mortgage-free sooner.

It’s also important not to confuse amortization with your mortgage term. The term is the length of your contract with a lender (often 3–5 years), while amortization is the full schedule to pay off the loan.

Understanding amortization helps you make smarter decisions about your mortgage—whether you’re buying your first home or planning how to pay it off faster.

Market Media Monday - March 16, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ CMHC reports February housing starts up 4.5 per cent from January ]
"Canada Mortgage and Housing Corp. says the annual pace of housing starts rose 4.5 per cent in February. The national housing agency said the seasonally adjusted annual rate of housing starts was 250,900 units in February compared with 240,148 units in January."

[ Canada inflation cools as Iran war clouds next BoC move ]
"Canada’s inflation downshift in February landed at exactly the moment policymakers least wanted a surprise. Annual CPI eased to 1.8%, undercutting economist expectations of 1.9% and moving below the Bank of Canada’s 2% target just as the Iran war pushed global oil prices sharply higher."

[ Homeowners with stronger credit scores are increasingly defaulting on mortgage payments ]
"Homeowners with stronger credit scores are increasingly defaulting on their mortgage payments, an alarming trend that reveals the impact of higher mortgage rates on traditionally lower-risk borrowers."

When will I actually get the keys?

You've bought your next house and you're excited because the big day is coming.  But now you have to plan and coordinate the move.  And of course, one of the most usual questions is: when will I actually get the keys for the new place?

This can vary a bit, depending on a number of factors.  In my experience, the transaction often closes by noon and you can get your keys.  The lawyers typically have everything all set to go a couple days before closing, so it's usually a relatively smooth process.  Of course, surprises do sometimes pop up that need to be dealt with on the fly, but these are usually addressed by the title search date.

And even if there are no problems, the closing is dependent on the lawyer receiving the money from your mortgage company.  Some lenders are better at being prompt than others.  Or if you're selling as well as buying, and you require the proceeds of the sale toward the purchase, then the lawyer could be held up waiting for your sale to close before closing your purchase.  Which also could be held up by the other buyer's mortgage lender, among other things.

The standard wording in the Ontario Real Estate Association's Agreement of Purchase and Sale requires the deal to close "no later than 6:00pm".  So, while you will often have the keys earlier in the day, it's safest to be prepared to wait until the end of the business day, around 4:30 or 5:00pm.  I have occasionally seen them squeak through that late.  You just hope it doesn't get held over to the next day... It doesn't happen often, but it's not impossible.

Terminology Tuesday: FINTRAC

FINTRAC stands for the Financial Transactions and Reports Analysis Centre of Canada. It is Canada’s financial intelligence unit, responsible for detecting, preventing, and deterring money laundering and terrorist financing. In the real estate world, FINTRAC regulations require brokerages and real estate professionals to verify client identities, keep specific records, and report certain types of transactions.

If you’ve bought or sold property in Canada, you’ve likely been asked to provide identification and answer questions about the source of your funds. That process isn’t random — it’s part of the federal anti-money laundering and terrorist financing regulations overseen by FINTRAC.

For buyers and sellers, this often means:

• Providing valid government-issued photo ID
• Confirming whether you’re acting on your own behalf or for someone else
• Disclosing beneficial ownership information (in certain cases)
• Answering questions about large cash transactions or unusual payment structures
  
• Confirming whether you are a Politically Exposed Person or a Head of International Organization

While it can sometimes feel like extra paperwork, these requirements help protect the integrity of Canada’s housing market. Real estate has historically been a target for money laundering, and FINTRAC’s oversight is designed to increase transparency and accountability across the industry.

In short, when your REALTOR® asks for identification or additional documentation, it’s not about inconvenience — it’s about compliance with federal law and protecting both clients and the broader real estate market.

Market Media Monday - March 2, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Canada's housing market suffers largest price decline among major economies, says BIS ]
"Canada’s residential housing market has experienced the largest decline in housing prices among similar advanced economies, according to the Bank for International Settlements (BIS)."

[ TD sees muted housing rebound as BoC pauses ]
"TD Economics’ latest outlook painted a cooler picture for Canada’s housing market, even as it argued the Bank of Canada is likely to sit tight at a 2.25% policy rate. Chief economist Beata Caranci said the mortgage “renewal cliff” has turned into “looking like a hill,” but warned that softer demand and regional imbalances still weighs on any recovery."

[ ‘We need market certainty’: Just 269 new homes sold in Toronto region last month ]
"Only 269 new homes sold in the Toronto area last month despite record high levels of inventory, a new report states. The data, compiled by the Building Industry and Land Development Association (BILD)’s Altus Group, indicates that new home sales in January were down 36 per cent from last January and are 80 per cent below the 10-year average."

[ Canada's industrial real estate markets on different trajectories ]
"Canada’s industrial real estate markets are advancing at an uneven pace, with some regions more acutely affected by ongoing trade disruptions and others showing greater resilience, according to Royal LePage’s 2026 Commercial Real Estate Report."

The Importance of a Mortgage Pre-Approval

Before you start house hunting, one of the smartest first steps you can take is securing a mortgage pre-approval. While it’s not a guarantee of final financing, a pre-approval gives you a clear picture of what you can afford and positions you as a more confident, prepared buyer in a competitive market.

A proper mortgage pre-approval involves a lender reviewing your income, credit history, debts, and down payment to determine the price range they’re willing to lend — often locking in an interest rate for a set period of time. This helps protect you from rate increases while you search and ensures you’re shopping within realistic financial boundaries, avoiding disappointment or overextension.

The pre-approval process may identify missing paperwork so you can take care of getting that ahead of time instead of rushing at the last minute. And if there are any surprise issues with your credit history, you may need to address them first.

From another practical standpoint, pre-approved buyers are also taken more seriously by sellers. When receiving an offer on behalf of a seller client, I certainly always ask the buyer agent where their buyer is with that, making sure they are working with a bank or broker and have got a pre-approval. In multiple-offer situations, a strong pre-approval may strengthen your offer and reduce concerns about financing risk. When paired with guidance from an experienced REALTOR®, it allows you to act quickly and decisively when the right home comes along — a major advantage in any real estate market.

In short, a mortgage pre-approval isn’t just a formality — it’s a powerful planning tool that brings clarity, confidence, and credibility to your home-buying journey.

If you're thinking about buying a home, I can refer you to a great mortgage broker who will look after your best interests. Call or email, and let's get you moving!

Terminology Tuesday: Deposit

When buying a home, one of the first financial steps a buyer makes is providing a deposit — but many people misunderstand what it actually means.

Simply put, a deposit is money the buyer submits when an offer is accepted to show they are serious about purchasing the property. Think of it as a good-faith commitment to move forward with the transaction. In that spirit, in some areas a deposit is called "earnest money" or even "good faith deposit".

The deposit doesn’t go directly into the seller’s pocket, though. Instead, it’s typically held in trust in the listing brokerage's trust account, or by a lawyer if no brokerage is involved, until closing. 

A deposit serves a few important purposes. First, it shows commitment, affirming to the seller that the buyer intends to complete the purchase. Second, this commitment makes the seller more comfortable taking their home off the market as sold. And finally, it's a bit of protection for the seller - if the buyer fails to meet the terms of the agreement without a valid reason, the deposit may be forfeited to the seller as compensation.

One point of terminology confusion is 'deposit' versus 'down payment'. The deposit is paid shortly after the offer is accepted to secure the deal. The down payment is the amount of the purchase price that a buyer is paying on their own, above whatever mortgage they are getting, and is paid on closing. The deposit is simply credited toward the down payment later. 

As for how much a deposit needs to be, there’s no universal number — it varies depending on the market, location, and price of the home. It's often around 5% but can ultimately be whatever is agreed to in the offer negotiation process. In competitive markets, stronger deposits may make an offer more appealing, but the right amount should always fit the buyer’s comfort level and financial plan. A listing also typically includes a requested deposit amount and if the buyer is able to meet that request that is one less point of consideration or potential objection for the seller.

The bottom line is that a deposit is more than just money — it’s a statement of intent. Understanding how it works helps buyers feel more confident and helps sellers feel secure when moving forward with a sale. 

If you’re buying or selling and have questions about deposits or offer terms, always speak with a qualified real estate professional who can explain how it applies in your specific situation.

Market Media Monday - February 23, 2026

A curated list of recent headlines relevant to real estate in Canada or locally, with short excerpts. Click each headline link to read the full article on the source site.

[ Market Outlook: Canada home prices fall to nearly five-year low in January ]
"Canada’s housing market began 2026 on softer footing, with benchmark home prices falling to their lowest level in almost five years as sales activity declined in January."

[ Most Canadian Provinces See Home Prices Rise, Two Hit Record Highs ]
"Home prices moved lower at the national level, but that reality isn’t aligned with buyers in most provinces. Canadian Real Estate Association (CREA) data shows the price of a typical home fell in January, but most provinces saw prices rise. The decline has been largely confined to BC and Ontario, where weak sales and robust inventory are dragging prices even lower."

[ National real estate association blames Ontario snowstorm for cooling housing sales in January ]
"The Canadian Real Estate Association (CREA) is blaming Old Man Winter as a factor in cool housing sales during the month of January."

[ Mortgage rate outlook: Why experts say the next move could be lower ]
"After a turbulent 2025, mortgage rates are opening the year in a narrow range, but experts say that calm may not last. "

[ Christopher Liew: How much income do you require to become a homeowner in Canada? ]
"An increasing number of people in their 20s and 30s are beginning to feel that homeownership is out of reach. Home prices remain high, mortgage rates are still elevated compared to a few years ago, and other daily living costs continue to squeeze household budgets."