Ontario real estate regulations to offer alternative to blind bidding

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The Ontario government says new regulations that take effect next year will help to make the homebuying process more transparent, but critics disagree, saying the rules could add confusion and will do little to bring down inflated prices.

Ross Romano, Ontario minister of Government and Consumer Services, said on Tuesday the regulations would enable home sellers to disclose details of competing bids on their properties if they choose. He said the province wants to give sellers the option of what it calls an "open offer" process.

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Original Article Source Credits: CBC, https://www.cbc.ca

Article Written By: Muriel Draaisma

Original Article Posted on: Apr 19, 2022

Link to Original Article: https://www.cbc.ca/news/canada/toronto/ontario-real-estate-blind-bidding-1.6424158