Closing Day Ontario | What to Expect When You Buy or Sell a Home
Closing Day in Ontario: What Happens and What You Need to Do
On closing day your lawyers register the transfer, the money moves and the keys change hands. Here is the order it happens in, what you do before and after, and where buyers and sellers most often get caught off guard.
In This Article
If you are buying or selling in Ontario, closing day is the day the sale becomes real. Legal ownership moves, the balance of the purchase price is paid and the keys are handed over. Most of the work happens in the weeks before, and most of it is done by your lawyer. Your job is to have the money, the insurance and the paperwork ready, and to know what to expect so a normal day does not feel like a problem.
Watch: Closing Day Ontario | Buyer and Seller Preparation
The Short Version
On the closing date, legal ownership and the keys move from the seller to the buyer, and the buyer pays the purchase price less the deposit already held in trust. That payment is a mix of the buyer's own down payment and the lender's mortgage funds. The seller's lawyer and the buyer's lawyer exchange the keys, the money and the documents, and the buyer's lawyer registers the transfer.
| When | What Happens | Who Does It |
|---|---|---|
| Weeks before | Title searches and inquiries, insurance, utilities, mortgage paperwork | Buyer's lawyer, buyer, lender |
| A few days before | Statement of adjustments, signing, closing funds to the lawyer, pre closing visit | Lawyers, buyer, agent |
| Closing day | Transfer and mortgage registered, funds released, keys exchanged | Both lawyers |
| After closing | Move in, change of address, final accounting questions through your lawyer | Buyer, seller, lawyers |
Your signed agreement of purchase and sale controls your actual dates and terms. This is general information, not legal advice.
Closing Date and Possession Date
The closing date is negotiated in the agreement. It normally falls on a business day when the transfer can be registered, so weekends and holidays are generally not used. In many deals the closing date and the possession date are the same day, but they do not have to be, so check what your agreement says for each.
The Busy Days
The first of the month, the middle of the month, the end of the month and Fridays are popular closing dates, and they are busy for lawyers, lenders and movers. If you have flexibility, another weekday can mean less pressure on everyone.
The 6:00 p.m. Deadline
Under the standard OREA agreement of purchase and sale, the seller has until 6:00 p.m. on closing day to give the buyer vacant possession. Registration, funds and keys all need to line up by then. Ask your lawyer for the expected timing, because it varies by file and lender.
The Weeks Before Closing
Your Lawyer Does the Title Work
The buyer's lawyer searches title and makes inquiries so you receive what you contracted to get. Many buyers also have a title insurance policy arranged through their lawyer. Ask what it covers and what it does not, since the cost and the coverage are part of your closing costs.
Your Mortgage and Your Money
A few days before closing, you meet with your lawyer, often online, to sign the final mortgage documents and provide the money you owe beyond the lender's funds. Your lawyer will tell you the exact amount and the method they accept. Do not wait for the last day to find out how long a bank draft or wire takes. For a closer look at what to budget, read our guide to closing costs and rebates for first time buyers in York Region.
Insurance and Utilities
Arrange home insurance before closing, since your lender will expect it to be in place. Register with the utility and service providers for the home so your accounts start on the right day. If you are also selling, see whether buying first or selling first fits your timeline, because same day closings are tighter and some buyers use bridge financing to cover a gap.
Land Transfer Tax
Buyers in Ontario pay land transfer tax on the purchase price, and the lawyer pays it when the transfer is registered. Eligible first time buyers may qualify for a provincial refund of up to $4,000 if they meet Ontario's conditions, and your lawyer can apply for it at registration. The rates and examples are in our Ontario land transfer tax guide.
The Statement of Adjustments
This is the final accounting for the sale. Your lawyer prepares it a few days before closing, and it ends in one number: the amount the buyer needs to bring to close. Read it when it arrives and ask about anything you do not understand.
How Adjustments Work
Some costs belong to the seller until closing and to the buyer after. Property taxes are the usual example. The annual amount is calculated per day, charges on the closing date normally belong to the buyer, and the seller is responsible for their share up to the day before closing. If the seller has already paid the year's taxes, they receive a credit. Any rental equipment, such as a water heater, should be named in the agreement so it is clear who carries it.
Why It Matters
A small error can mean a shortfall on closing day. Your lawyer reviews it, but you know your deal best, so confirm that the deposit, the price, any agreed credits and the closing date all match your agreement.
The Pre Closing Visit
Before closing, the buyer usually visits the home one more time. The Real Estate Council of Ontario describes it as the buyer's last chance to confirm four things: the home is in the condition it was when you last saw it, the appliances and major systems work, the seller has not removed anything that was included in the agreement, and any agreed repairs and other conditions were completed.
Pre Closing Visit Checklist
- Walk through every room and compare it with what you saw before.
- Run the appliances, taps, heating or cooling and the garage door.
- Check that included fixtures, window coverings and appliances are still there.
- Look for new damage, including water stains and broken windows.
- Confirm any repairs the seller agreed to were completed.
The property still belongs to the seller until closing, so the visit is normally limited to the buyer and their agent. Bring anyone else only with the seller's permission, and do not start renovations or let contractors in before the deal closes. If you find a problem, tell your agent and lawyer right away. A fix has to be agreed by both sides and dealt with before the closing date. Under the standard agreement, the seller remains responsible for the property until closing, which is why the visit matters. For what to check earlier in the process, see what to expect during a home inspection.
What Happens on Closing Day
You Usually Do Not Go to an Office
Ontario's land registry services are online only, and authorized users such as lawyers register documents in the electronic land registration system. In practice your lawyer registers the transfer and your mortgage electronically, and you do not need to attend a registry office.
The Order of Events
The buyer's funds reach the lawyer ahead of time. On the day, the lawyers register the transfer, the money is released to the seller's side and the keys are released to you. Your lawyer or agent will confirm when it is complete. Until you hear that, do not assume you can move in.
Plan Your Move Around Registration
Because the exact timing is out of your hands, avoid booking movers or deliveries for the first hour you could possibly get the keys. Give yourself room, and keep your phone on.
Closing Day Checklist for Buyers
- Confirm with your lawyer that your funds and signed documents are in.
- Confirm home insurance is active from the closing date.
- Confirm utilities and services are set up to start in your name.
- Ask how and when you will receive the keys, fobs and any garage remotes.
- Keep your agent and lawyer reachable until it is complete.
If You Are Selling
Sellers have a shorter list, but it is just as time sensitive. You must deliver vacant possession, which means the home is empty, clean and in the condition the agreement requires, with the included items left in place. Your lawyer arranges the payout of any mortgage on the property and the adjustments from your sale proceeds. The costs involved are in our guide to Ontario seller closing costs.
Closing Day Checklist for Sellers
- Finish moving out and remove everything that is not included in the sale.
- Clean the home and leave the included appliances and fixtures.
- Gather every key, fob, garage remote and manual.
- Arrange final utility readings and the end date for your accounts.
- Tell your lawyer where the keys will be left and how they will be released.
When Something Goes Wrong
Delays
Late funds, a lender issue or a title problem can push the timing. Call your agent and lawyer first. Your agreement sets out what happens when a deadline is missed, and time is treated strictly in Ontario real estate, so do not wait to raise it.
Problems Found Before Closing
If something has changed since your inspection, the sooner it is raised, the more options you have. A fix, a credit or a delay all need agreement from both sides and your lawyers.
Questions After Closing
On closing, the parties usually exchange undertakings, which are promises to correct certain items afterward, such as an adjustment found to be wrong. Send any later question to your lawyer.
York Region and Toronto
The closing process is the same across Ontario, but one cost differs by location. Toronto buyers pay a municipal land transfer tax on top of Ontario's, and Ontario's land transfer tax page refers to a municipal land transfer tax only for the City of Toronto. Confirm any local charges with your lawyer. If you are buying in Toronto, read the Toronto land transfer tax guide before you finalize your closing budget. If you are comparing offers and conditions before you get to closing, see what buyers should review before making an offer.
Quick Takeaways
- Closing is when legal ownership, the money and the keys change hands, and your lawyer registers the transfer.
- The closing date is normally a business day, and the standard OREA agreement gives the seller until 6:00 p.m.
- Read the statement of adjustments as soon as it arrives.
- Use the pre closing visit to check condition, appliances, fixtures and agreed repairs.
- Do not book movers around the earliest possible key time.
Frequently Asked Questions
What time do I get the keys on closing day?
There is no single time. The standard agreement gives the seller until 6:00 p.m. to deliver vacant possession, and the keys are released once the lawyers have registered the transfer and the funds have moved. Ask your lawyer for the expected timing on your file.
Can closing happen on a weekend?
Not normally. The date is usually a business day when the transfer can be registered, which excludes weekends and holidays.
Do I have to be there on closing day?
Usually not in person. Buyers sign with their lawyer a few days before, and the lawyers handle the registration electronically. Confirm with your lawyer what they need from you.
What is a statement of adjustments?
It is the final accounting of the sale. It adjusts items such as property taxes between the buyer and seller and shows the amount the buyer needs to bring to close.
What if I find a problem at the pre closing visit?
Tell your agent and your lawyer right away. A solution has to be agreed by both sides and dealt with before the closing date, so speed helps.
Sources: LAWPRO Buying and Selling a Home Guide, RECO: Pre closing visits, Ontario: Land Registry and Ontario: Land Transfer Tax. This article is general information, not legal advice. Your agreement and your lawyer control your transaction. Details checked against the Ontario, RECO and LAWPRO pages on October 24, 2026.
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