What Happens on Closing Day in Toronto Real Estate?

On closing day, your lawyer transfers funds, registers the title, and you officially receive the keys to your new home.

Closing day is the final step in the home-buying process. Here’s what happens:

• Lawyer’s role: Your lawyer transfers the purchase funds to the seller’s lawyer, registers the title, and confirms everything with your lender.
• Final adjustments: Property taxes, utilities, and condo fees (if applicable) are adjusted so both buyer and seller pay their fair share up to closing.
• Deposit applied: Your deposit has been applied toward the down payment.
• Keys released: Once the funds clear and the title is registered, you will receive the keys—usually by late afternoon.

Most closings occur within 30–60 days of offer acceptance, although some can be completed more quickly.

The Fox Marin Team prepares clients thoroughly before closing day so instead of stress, you enjoy a smooth handoff into your new home.

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