By the time closing day arrives, most of the legal work is already done. You have signed documents days earlier, your funds have been wired, and your lawyer is coordinating a handful of moving parts. Here is what is actually happening on the day itself.
The Day Before
In most Ontario closings, you have already:
- Signed your transfer documents and mortgage documents 1 to 5 days earlier
- Wired your closing funds (down payment less deposit, plus closing costs) to your lawyer's trust account
- Confirmed home insurance is in place effective the closing date
- Received instructions about where and when keys will be available
If anything is still outstanding, your lawyer is chasing it the day before.
Closing Day, Morning
- Your lawyer receives the final mortgage advance from your lender. The funds land in their trust account.
- The lawyer for the seller sends final closing documents (statement of adjustments, undertakings, direction re: funds).
- Your lawyer reviews and confirms everything matches what was agreed.
Closing Day, Mid-Day to Afternoon
- The transfer of title is registered electronically through Ontario's electronic registration system (Teraview). This is the moment ownership legally changes hands.
- The new mortgage is registered against title at the same time.
- Your lawyer wires the purchase funds (minus the deposit, which goes to the seller's lawyer separately) to the seller's lawyer.
- The seller's lawyer confirms receipt and authorizes key release.
You Get the Keys
Once the seller's lawyer confirms funds and clears the deal, keys are released. Usually by the listing realtor at the property, sometimes at the lawyer's office. Your lawyer texts or emails you the all-clear.
What Can Go Wrong
The most common closing-day issues:
- Lender delay. Funds don't arrive until late afternoon. Closes still complete, just later in the day.
- Last-minute holdback. A title issue, a missing document, or a discrepancy in adjustments can force a hold-back of part of the funds.
- Buyer wire timing. If your closing funds don't reach your lawyer in cleared form, the registration can't happen. Always wire at least 2 business days before closing.
What You Should Do
- Don't book the moving truck for the morning of closing day. Afternoons are safer.
- Don't disconnect old utilities until the day after closing.
- Take a photo of the property condition the night you take possession. It protects you if there is a dispute about chattels or damage.
If you want to see a sample closing timeline for a Windsor, Toronto, or anywhere-in-Ontario closing, get a free quote and we'll walk you through it.