Closing Day: What to Expect When Buying a Home

Closing day is the final step in your home buying journey. This guide explains what happens, what to bring, and what to expect.

Final Walkthrough

• Visit the property 1-2 days before closing
• Verify the home is in the agreed-upon condition
• Confirm all included items remain
• Check for any new damage

Review Closing Documents

Your lawyer/notary will provide:

• Statement of Adjustments: Final financial breakdown
• Mortgage documents: From your lender
• Title documents: Transfer of ownership
• Closing cost breakdown: Final amounts due

Final costs typically include:

• Land Transfer Tax (varies by province)
• Legal/Notary Fees: $1,000-$2,500
• Title Insurance: $200-$400
• Property Tax Adjustments: Prorated share
• Utility Adjustments: Prorated
• Mortgage Insurance Premium: If applicable

Use our Closing Cost Calculator for a detailed estimate.

Step 1: Sign Documents

Your lawyer/notary will have you sign:

• Transfer/Deed documents
• Mortgage documents
• Tax certificates
• Various declarations

Step 2: Provide Funds

You'll need to provide a bank draft or certified cheque for:

• Down payment balance
• Closing costs
• Legal fees
• Any adjustments

Step 3: Registration

Your lawyer registers the transfer and mortgage with the land registry. This can take several hours.

Step 4: Get Your Keys

Once registration is confirmed, your lawyer releases the keys. You're officially a homeowner!

Ontario

• Uses lawyers for real estate transactions
• Electronic land registration system (Teranet)

British Columbia

• Uses lawyers or notaries public
• Property Transfer Tax paid at closing

Alberta

• Uses lawyers for title transfer
• Much lower closing costs (no land transfer tax)

Quebec

• Uses notaries (notaries are mandatory)
• Different legal system (civil law)

• Two pieces of government ID (passport, driver's license)
• Bank draft/certified cheque for the required amount
• Void cheque (for mortgage setup)
• Home insurance proof (binder/proof of insurance)

Funding Delays

• Mortgage funds may arrive late
• Keep your lawyer's contact handy

Title Issues

• Unexpected liens or encumbrances
• Your lawyer should resolve before closing

Possession Timing

• Possession is typically at 5:00 PM on closing day
• Don't schedule movers until late afternoon

Change the Locks

Always rekey or replace locks immediately for security.

Set Up Utilities

• Electricity, gas, water
• Internet and phone
• Cancel services at your old address

Update Your Address

• Canada Post mail forwarding
• Driver's license
• Health card
• CRA
• Insurance providers

Closing day involves many steps but your lawyer/notary guides you through each one. Be prepared, bring your documents, and don't hesitate to ask questions. For pre-closing planning, use our Calculators and AI Advisor.

This guide is for educational purposes only.