The short version: Closing day in Ontario is the day legal ownership of the property transfers from seller to buyer. It involves a lawyer, a lender, the seller’s lawyer, a title registration office, and a moving truck — and most of the work happens behind the scenes between 9 a.m. and 4 p.m. Things can and do go wrong, but they usually fall into a small set of categories that are predictable and avoidable. Here is the plain-English Halton buyer + seller walkthrough.
What actually happens on closing day
The Agreement of Purchase and Sale specifies a closing date (sometimes called the “completion date”). On that date:
- The lender wires the mortgage funds to the buyer’s lawyer’s trust account.
- The buyer’s lawyer combines those funds with the buyer’s closing-day deposit and pays the seller’s lawyer the full purchase price (less the buyer’s deposit, which the seller’s brokerage typically already holds).
- The buyer’s lawyer registers the new title transfer through Ontario’s electronic land registration system (Teraview).
- The seller’s lawyer delivers signed-off documentation, including the key release confirmation.
- The buyer receives keys — typically through their REALTOR® or directly via lockbox at a coordinated time.
The full handoff usually completes between 12 noon and 4 p.m. on closing day. Many transactions register electronically by mid-afternoon, but the key release timing depends on when funds actually clear the seller’s side.
The week before closing: what to expect as a buyer
- Final walk-through. Typically scheduled in the 24 to 48 hours before closing. You confirm the property is in the same condition as when you agreed to buy it, with included chattels still present.
- Insurance binder. Your home insurance must be in place effective the closing date. Your lawyer will need the policy details a few days before closing to deliver to the lender.
- Closing day deposit. Your lawyer will tell you the exact dollar amount and where to wire it. The figure includes Land Transfer Tax (Ontario), legal fees, title insurance, lender disbursements, and adjustments for property tax + utilities. You typically pay this 1 to 2 business days before closing via bank draft or wire.
- Utility transfers. Schedule hydro, gas, water, internet, and any required municipal services to switch into your name effective closing day.
- Moving plan. Confirm moving truck booking, address change for mail, and arrival timing at the new home (typically 4 p.m. or later on closing day).
The week before closing: what to expect as a seller
- Final walk-through cooperation. The buyer’s REALTOR® will arrange the final walk-through. Have the home accessible.
- Discharge of your existing mortgage. Your lawyer obtains the payout statement from your lender. The buyer’s funds pay off your remaining mortgage at closing — you do not need to come to closing with cash unless your sale proceeds will not cover what you owe.
- Chattels and inclusions. Anything listed in the APS as included (appliances, light fixtures, etc.) must stay. Anything labelled excluded must go. Confirm this matches what is in the home before closing day.
- Move-out timing. The home must be vacant and broom-clean by the closing time specified in the APS. Most APS forms in Ontario set this to no later than 5 or 6 p.m. on the closing date.
- Key delivery. Keys typically go through your REALTOR® or via lockbox. Your lawyer authorizes key release once funds are received.
What can go wrong (and how to prevent it)
1. Lender funds delayed
The most common closing-day surprise. The lender’s wire to your lawyer arrives later than expected, which delays the funds going to the seller’s side, which delays key release. The buyer ends up sitting in a moving truck in front of the new home for an extra 2 to 4 hours.
Prevention: have your lender’s mortgage instructions confirmed received by your lawyer a week before closing. Ask your lawyer to flag any missing documentation early.
2. Title or survey issue discovered late
A boundary discrepancy, an unresolved easement, an outstanding lien, or a Work Order from the municipality can hold up registration. Most of these issues are caught in the lawyer’s title search 2 to 3 weeks before closing. Late discoveries are rare but possible.
Prevention: complete the lawyer’s questions and submit ID promptly when requested. Title insurance, which is now standard on most Ontario transactions, covers many post-closing title issues.
3. Insurance not in place
Your lender will not advance funds without confirmed home insurance effective closing day. If your insurance binder is not in your lawyer’s hands the day before closing, funds do not get released.
Prevention: confirm insurance is bound and the binder is sent to your lawyer at least 3 business days before closing.
4. Property not in promised condition at walk-through
The walk-through reveals missing chattels, fresh damage, or items not in the condition agreed to in the APS. This requires fast lawyer negotiation, often a holdback (a portion of the purchase price held in escrow pending resolution), or in rare cases a delayed closing.
Prevention (buyer side): document everything at the walk-through with photos. Contact your REALTOR® and lawyer immediately. Do not wait until after closing.
Prevention (seller side): take photos of the home in the agreed condition before move-out. Do not remove items listed as included. Leave the home broom-clean.
5. Closing date conflict with seller’s onward purchase
When the seller is also buying a new home on the same day, a delay in their sale cascades into a delay in their purchase. Coordinated closings (Halton + Toronto, or two Halton properties same day) are a common source of late afternoon stress.
Prevention: discuss the chain timing with your REALTOR® before signing. If you are stacking transactions, consider a 1 to 2 day buffer between them.
Closing day checklist
Buyer
- Closing-day funds wired or bank draft delivered to lawyer 1-2 days prior
- Home insurance in force, binder delivered to lawyer
- Lender mortgage instructions received by lawyer
- Final walk-through completed
- Utilities scheduled to switch effective closing day
- Moving plan confirmed for late afternoon arrival
- Phone available to answer lawyer’s calls during the day
Seller
- Mortgage discharge instructions confirmed with your lawyer
- Property vacant and broom-clean by closing time per APS
- Chattels matched to inclusions list
- Utilities transferred or shut off effective closing day
- Keys delivered to your REALTOR® or set up via lockbox
- Forwarding address provided to lawyer
- Phone available for the lawyer during the day
After closing
- Buyer: Your lawyer sends a final reporting letter and a copy of the registered title transfer. Keep both — you will need them for refinancing, future sale, and tax records.
- Seller: Your lawyer wires sale proceeds to your bank account, typically 1 to 3 business days after closing. Their reporting letter follows. If your principal residence exemption applies, ensure your accountant has the closing details for next year’s tax filing.
RECO and CREA notes
This article is general real estate education, not legal advice. Closing-day procedures, document review, title transfer, and trust-account handling are the work of a licensed Ontario real estate lawyer. Mortgage and insurance specifics are handled by your lender and your insurance broker. Specifics vary by transaction and your lawyer is the authority on your specific file.
Ashish Gupta is a REALTOR® with CENTURY 21 GREEN REALTY INC., Brokerage. Not intended to solicit clients currently under a representation agreement with another brokerage.
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