Whether you’re buying your first home or selling an investment property, closing day is one of the most important (and often misunderstood) parts of the real estate process. At Ang Law Professional Corporation, we work hard behind the scenes to ensure everything runs smoothly—whether the transaction is remote or in person.
Here’s a breakdown of what actually happens during a real estate closing in Ontario:
đź“„ 1. The Paperwork
The first step involves finalizing and signing all required legal documents. These typically include:
- The Agreement of Purchase and Sale
- Mortgage documents (if you’re financing the purchase)
- Title documents, which officially transfer ownership
Your lawyer will review these with you to ensure everything is accurate, complete, and in your best interest.
🔎 2. Title Search & Adjustments
Before closing, your lawyer conducts a title search to ensure the seller has clear ownership of the property and that there are no liens, unpaid taxes, or other claims on the home.
In addition, your lawyer will prepare adjustments for things like:
- Property taxes
- Condo fees (if applicable)
- Utilities
These are calculated based on the exact closing date to ensure fair allocation between buyer and seller.
đź’° 3. The Money Moves
On closing day, your lawyer:
- Receives the mortgage funds from your lender (if applicable)
- Transfers the balance to the seller’s lawyer
- Pays any outstanding fees (e.g. land transfer tax, legal fees)
- Registers the transaction with the Land Registry Office
Only once these steps are completed will the keys officially be released.
🔑 4. You’re Officially a Homeowner
Once all documents are signed, funds have cleared, and the title is registered, the deal is done.
At this point, you’ll receive confirmation, and your lawyer will arrange for key pickup or delivery.
🧑‍⚖️ How We Make It Easier
At Ang Law Professional Corporation, we offer remote and in-person real estate closings across Ontario. From secure digital signings to virtual consultations, we ensure every step is convenient, compliant, and stress-free.
If you’re planning to buy or sell a home, reach out today—we’ll make closing day something to celebrate.