Step 1: Determine Your Offer Price

Your offer price should be derived from two inputs: (1) your comparative market analysis (what similar legal duplexes have sold for recently in the same neighbourhood) and (2) your income analysis (what purchase price supports your target cap rate based on current market rents and expenses). When these two inputs diverge, use the income analysis to guide your final decision — you're buying an investment, not just a home.

Step 2: Choose Your Conditions

Standard conditions for a first-time duplex buyer in Ontario: Home inspection (5 business days), financing approval (5–7 business days), legal status verification of second unit (3 business days). Optional but recommended: review of existing leases, verification of first/last month deposits, confirmation of no outstanding LTB applications. Do not waive inspection on a duplex — ever.

Step 3: Structure the Offer Document

Your buyer's agent will prepare the Agreement of Purchase and Sale (APS). Key items to confirm: deposit amount (typically 2–5% of purchase price, paid within 24 hours of acceptance), closing date (minimum 30 days to allow for financing and due diligence; 60–90 days preferred for investment property), chattels and fixtures included (appliances? window coverings? all rental equipment assumed?), and any special conditions you've added.

Step 4: What Happens When the Offer Is Submitted

The seller has the option to: accept your offer as is (rare on first submission), reject it outright (rare — they'll usually counter), or sign back a counter-offer changing price, closing date, or conditions. Counter-offers go back and forth (sometimes several times) until both parties agree or either party walks away. This process typically happens within 24–48 hours.

Step 5: After Acceptance — The Conditional Period

Once accepted, your conditional period begins. Use every day of it: book your inspection immediately (good inspectors are booked 5–10 days out — call before your offer is accepted), submit your formal mortgage application the same day as acceptance, have your lawyer begin the title search, and verify legal status of the second unit through the municipal permit portal.