Shaneexitrealty

You just spent 6 months finding your dream home and you’re about to lose it over a 2-hour bank delay. Here’s why:

In Ontario, "Time is of the Essence" isn’t just a fancy phrase in a contract. it’s a legal trap.

​Most buyers I talk to think a deposit is just "part of the paperwork." It’s not. It’s the legal glue. If that bank draft is one hour late because of a holiday or a bank limit you didn't know about, the seller can legally walk away and take a better offer.

​It seems like a small detail, but in a courtroom, a judge only cares about one thing: Did you follow the rules you signed?

​Here is what you need to know:
-The deposit is part of your purchase price (it's deducted on closing).
-It is NOT included in your mortgage (you need this cash liquid NOW).
-If it's late, you need an Amendment immediately to keep the deal valid.

​Just out of curiosity, if you found the perfect home tomorrow, do you have your deposit funds ready to move within 24 hours?

​

Most buyers don’t know this: you can be approved for a mortgage and still have your deal delayed (or worse) if the property can’t be insured in time.

I made this because buyers are already worrying about so many things when buying a home: down payment, rates, inspections, offers. That they often don’t even realize home insurance can affect mortgage funding.

This can come up especially with older homes here in Niagara, where insurance may get more questions around things like electrical, roof age/condition, heating setups, or plumbing issues. Even environmental factors.

What to do:
As soon as your offer is accepted, talk to an insurance broker and make sure coverage can be bound for your closing date.
And better yet (where appropriate), discuss making insurance/insurability part of your offer conditions.

I also wrote a new blog breaking this down in plain English so buyers can avoid last-minute surprises.

If you’re buying and want a refresher on the full home buying process, book your free buyer consultation (link in bio / booking link).
I’ll walk you through the process step-by-step and leave you with my Home Buyer Guide.

Save this for later and send it to someone buying in Ontario.

Niagara Real Estate Market Update | January 2026

If you’re wondering what’s really happening in the Niagara real estate market right now.... this video breaks it down.

January brought a huge jump in listings, while buyers stayed cautious and homes took longer to sell.

Quick snapshot:

• 977 new listings ⬆️
• Average days on market: 67 ⬆️
• Benchmark price: $573,900 ⬇️ slightly
• Sales slowed — but activity didn’t stop

What matters isn’t the headline… it’s how this affects your move.
More choice doesn’t always mean better deals.
More listings doesn’t mean panic.
And timing without strategy is just guessing.

If you’re buying, selling, or planning your next move in Niagara Falls or surrounding areas, this is the context you need.

💬 Drop a comment or DM me if you want to know how this market impacts your home or plans.

Data sourced from the Niagara Association of REALTORS® MLS® Residential Market Report.