When looking at homes in London Ontario, do not allow emotions to over rule better judgement
Do These Four First

Before Making an Offer on a Home in London, Ontario, Do These Four Things First


Before making an offer on a home in London, Ontario, do four things to protect yourself from overpaying:

  • Check active listings to confirm the home is priced reasonably
  • Compare average sold prices to list prices
  • Tour several comparable homes 
  • Review how long listings have been on the market.

 Underneath all four sits one question that decides almost everything:

How motivated is the seller — and how motivated are you?

Start With Motivation

Has the home been on the market for more than 30 days? That could mean the seller isn't truly motivated. It could mean the home is overpriced and hasn't moved. Or it could mean the seller is now highly motivated and ready to deal. The same number of days on market can point in three completely different directions, and knowing which one you're looking at changes your whole approach.

Then turn the question on yourself. If you've been transferred for work, your own home is already sold, your lease is ending, there's another child on the way, or you've had enough of renting — you may be more motivated than you realize. And a motivated buyer who hasn't admitted it to themselves tends to overpay.

For context, London is currently a buyer-friendly market: roughly 5 months of inventory, with homes selling at about 97.4% of asking price, meaning the average home goes for around 2.6% below list price. That's a market where patience and preparation are rewarded — but only if you know how to read it.

Keep Your Emotions Out of the Negotiation

If your heart is pounding over a home and you can't stop picturing yourself in it, you will not negotiate well. That's not a character flaw — it's human. But it's also expensive.

Sometimes the pull isn't even about the house itself. It's the layout, the street, the school, or a lifestyle you've imagined. Recognizing what is pulling at you helps you separate the home's actual value from what your emotions say it's worth. Those are two different numbers, and the gap between them is real money.

The single best protection against this? Besides my phone number — I couldn't resist — it's solid comparable sales and market data for the area and the wider market. Facts are the antidote to a racing heart.

The Four Things to Do Before You Offer

1. Look at the area's active listings. Is the home you're considering priced within the range of other homes for sale nearby? If it is, you know you're starting from a reasonable place. If it's well above, you need to understand why before you offer a dollar.

2. Compare average sold prices to list prices. List price is what a seller hopes for. The sold price is what buyers actually paid. In London right now, that gap averages about 2.6%, but it varies by neighbourhood and property type. Knowing the real local figure tells you where a fair offer begins.

3. Tour several other listings in the area. You can't judge value in isolation. How does your choice compare to what else is on the market? Is it in similar condition? Better sited, bigger, smaller, better landscaped? Seeing the alternatives is the fastest way to understand whether a property is a bargain, a stretch, or just right.

4. Look at average market times for the area. How long are similar homes sitting before they sell? If the median is around 24 days and the home has been listed for 45, that says something. When it sells in a week, that tells you something else. Days on market is a quiet signal of both pricing and demand.

You May — Or May Not — Be Ready

After doing this homework, you might be ready to make a strong, confident offer. Or you might discover the home isn't what you thought, or the price doesn't hold up against the comparables. Either outcome is a win because both are based on facts, not feelings.

The Gap This Doesn't Close

You can do all four of these things on your own — and you should. But raw numbers don't interpret themselves. Two homes can show the same days on market for opposite reasons. A list-to-sold gap can mean a motivated seller or a quietly overpriced one. Reading what the data actually means for the specific home in front of you is where 24 years of watching this market matters.

That's the work I do before any of my buyers write an offer: pull the comparables, read the seller's likely motivation, and tell you what the home is genuinely worth — not what the listing says, and not what your heart says.

Home buyers in London getting their 25 questions answered
25 Questions To Ask

Phase 2: The 25 Due-Diligence Questions to Ask Before Signing.

Uncertainty is the most expensive thing a buyer can bring to a real estate transaction.

 Before making an offer on a home in London, Ontario, every prepared buyer should have answered 25 questions covering financing, negotiation strategy, home inspection, neighbourhood due diligence, and closing. 

Buyers who ask the right questions before they make an offer avoid mistakes that cost others thousands.  The stress, the second-guessing, the fear of making a costly mistake — I hear about them from buyers every week. Almost always, the root cause is the same: the right questions weren't asked early enough.

After 24 years in this market and countless conversations with buyers who wish they'd known more before making an offer, I've compiled the 25 questions every London home buyer needs answered before making an offer. Not after. Before.

These questions fall into four categories — and each one covers ground that most buyers don't think to ask until it's too late.

The Financial Questions

What are the five critical numbers to know before making any offer? What should you ask your mortgage lender before signing anything? How do credit scores actually affect what you can borrow — and what's the number that matters? What are the carrying costs beyond the mortgage that buyers consistently underestimate? And what won't your lender volunteer about rates, terms, and the true cost of borrowing over time?

Getting these answers before you start looking — not after you've found a home you love — is what keeps emotion from driving a financial decision.

The Strategy and Negotiation Questions

How do sellers actually price their homes in London's current market — and how much should you offer? Who else is involved in your transaction and how do you stay in control of the process? What are the five most expensive mistakes London buyers make, and what does each one actually cost? And when competing for a well-priced home, what gives a prepared buyer the edge over one who isn't?

In London's current market — 5.0 months of inventory, homes selling at 97.4% of asking in a median of 26 days — prepared buyers move with confidence. Unprepared ones hesitate or overpay.

The Home Search and Inspection Questions

What six things should you look at in every home beyond the finishes and the kitchen? What are the six signs of expensive hidden problems in a foundation or roof — the ones a casual walkthrough misses? What five questions should you ask at every single showing? And what's the best system for keeping track of what you've seen when you've viewed a dozen homes, and they're starting to blur together?

The Closing and Moving Questions

What three things worry buyers most about closing — and what's the solution to each? What does a stress-free closing timeline actually look like? And once you have the keys in hand, what are the immediate priorities before moving day?

Where to Get the Answers

These 25 questions are the foundation of every buyer conversation I have before an offer goes anywhere near a table. Some of the answers are straightforward. Some depend entirely on your specific situation, the property you're considering, and what the market is doing in that specific neighbourhood at that specific moment.

If you're preparing to buy in London and want to work through these questions before you're sitting across from a seller with a deadline on the offer, that's exactly the right time to have this conversation.

Ty Lacroix Broker

Our Proven Process For Home Buyers

The Strategy Session (A Must)

We don’t start with a search; we start with your goals. We listen, acknowledge your concerns, and build a strategy that fits your goals now and in the future.

Priority Access

You are not a number! You and your family have access to all our resources and the personal touch required for a successful purchase.

The Math Behind the Price

You will never guess what a property is worth. Together, we have reviewed enough homes to know the price, and our deep research and analysis will give you the right price range so you feel comfortable making an offer.

Transformational Not Transactional

From preparing an offer to receiving the keys, we will advise you when to say yes and when to walk away. 

Beyond the Closing

The effort doesn't end when you get the keys. When you need a reliable contractor, lawyer, or accountant, we can connect you with many of our contacts, with whom we've built relationships over 24 years.

“Ty’s approach to the London market is clinical. He doesn't just show houses; he analyzes the investment quality of every neighbourhood. His ability to negotiate terms that protected my equity from day one was the primary reason for our success." 

Janice Crinklaw

"In a market full of noise, Ty provided the signal. We weren't looking for a 'deal'; we were looking for a specific calibre of property that rarely comes to market. Ty’s network and data-driven insights secured exactly what we needed without the typical market friction."

Patrick Kendall

Ty Lacroix Broker on the phone
Ty Lacroix Broker
This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.