There is no single deadline that applies to every offer. The periods are negotiated and written into your promise to purchase; those signed clauses determine your actual deadlines.
How are the days counted?
In OACIQ forms, the day of acceptance is normally not counted. Day 1 is the following day. Periods are counted in consecutive calendar days, so weekends and statutory holidays are included.
The principal deadlines
Acceptance deadline
Before acceptance, the promise to purchase binds the buyer until the stated date and time. The seller may accept, refuse or make a counter-proposal. Without a response by the deadline, the promise lapses.
Mortgage financing
After acceptance, the buyer must provide evidence of a compliant mortgage commitment within the stated period. A pre-approval does not necessarily replace the commitment required for this property.
Inspection
The inspection must take place within the agreed number of days. If it reveals a significant issue, the promise also determines how and when the buyer must deliver written notice, generally with the report.
Document review
The promise may require delivery and review of specific documents, including the seller’s declaration, certificate of location, condominium records, leases or other documents. The signed clause determines the deadline and response procedure.
Other conditions
The sale of an existing property, an environmental assessment, a water test or another special condition may create a separate timeline.
Deed of sale and occupancy
The notarial signing date and occupancy date are negotiated commitments and are not always the same date.
One condition can contain more than one deadline
Completing the inspection by a certain date and responding to its findings are separate actions. The same applies to receiving documents, reviewing them and delivering a notice of dissatisfaction. Every date must be recorded.
When notice is required, a telephone conversation may not be enough. It must be delivered in writing as required by the clause, and proof of receipt should be preserved.
Can a deadline be extended?
Yes, if the parties agree in writing. A properly signed amendment should state the new date. Never assume a delay has been automatically accepted.
General information verified in August 2026. Your promise to purchase and its schedules remain the reference. Source: OACIQ: Financing and inspection deadlines.