What Happens on Closing Day in Ontario: Registration to Keys, in Order

Closing day feels like a single moment, but it is really a chain of steps handled mostly by the two lawyers. Knowing the order helps you stay calm and answer your lawyer quickly if something is needed.

The sequence below is how closings generally unfold in Ontario. Details such as the hour keys change hands depend on your agreement of purchase and sale and your lawyers, so treat this as a guide and confirm the specifics.

Before closing day: what must be ready

Most delays on closing day come from work left undone earlier. Your lawyer will ask you to sign documents and, for a buyer, arrange the balance of the funds. The buyer's lawyer also arranges the land transfer tax, which is payable when the conveyance is tendered for registration or before.

• Buyers: confirm your funds and mortgage are ready, and book any insurance your lender requires.
• Sellers: obtain a payout statement from your lender, since paying off a mortgage on a sale can trigger a prepayment penalty.
• Condo buyers: your lawyer reviews the status certificate, and the corporation may charge no more than $100 including taxes for it and the required material.
• Everyone: check that closing does not fall on a statutory or government holiday, when registration is not allowed.

The sequence on the day

For an electronic transfer, it is treated as tendered when it is submitted under the electronic registration system. Document registration is available Monday to Friday from 8:30 a.m. to 5:00 p.m. local time according to a ministry bulletin. Hours and holiday schedules can change, so ask your lawyer to confirm the current ones.

Taxes and costs that land on the day

Land transfer tax is only paid by the buyer. A seller does not pay it. The provincial rates are 0.5% up to $55,000, 1.0% from $55,000 to $250,000, 1.5% from $250,000 to $400,000 and 2.0% above $400,000, with 2.5% on the portion above $2,000,000 where the land has one or two single-family residences. Toronto has its own additional municipal tax, which your lawyer can calculate.

Eligible first-time buyers may qualify for a refund of up to $4,000, which means no provincial tax on the first $368,000 for an eligible home. The buyer must be 18 or older, occupy the home as a principal residence within nine months, and meet other conditions, and the claim must be made within 18 months of registration.

For sellers, the usual costs are commission, HST on commission, legal fees and disbursements, mortgage payout and adjustments. HST at 13% applies to services such as commissions and legal fees, not to the resale price of a typical used home.

Keys, possession and tenants

When and how you receive the keys is something to arrange with your lawyer and agent ahead of time. The exact time depends on your agreement of purchase and sale, so check what it says about possession and ask your agent and lawyer how the handover will be arranged.

If the home has a tenant, the buyer who takes title steps into the landlord's role. If a buyer wants to move in, the landlord may be able to give the tenant an N12 notice, but only if the landlord has an agreement to sell, the property has no more than three residential units or is a condominium, and the notice gives 60 days. The buyer's affidavit is needed for the application. Compensation rules for these notices changed with a split on September 21, 2026, so confirm the current rule before relying on it.

What to do next

• Ask your lawyer for the closing-day timeline and when they will call you.
• Keep your phone on and respond quickly to requests for signatures or information.
• Confirm in advance how and when you will receive the keys.
• Have identification and funds ready as your lawyer instructs.
• After closing, diarize deadlines: a first-time buyer refund must be claimed within 18 months of registration.
• If you are selling, remember to report the sale of a principal residence on your tax return.

If anything looks wrong on the day, such as a missing discharge or a funds problem, tell your lawyer immediately rather than waiting.

Frequently asked questions