Blog > Closing Day in Ontario: What Actually Happens, and When You Get the Keys
Closing Day in Ontario: What Actually Happens, and When You Get the Keys
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Most buyers picture closing day as a moment. You sign something, you get the keys, you move in. In practice it is a relay, and you are the last runner. Money has to land in the right trust account, documents have to register at the land registry, and only then does anyone hand over a key.
Here is what actually happens between the morning and the afternoon, what the standard Ontario agreement says about timing, and how to set the day up so it stays boring.
The short answer
Your lender advances the mortgage to your lawyer. Your lawyer sends the balance due to the seller's lawyer. The transfer and your new mortgage are registered electronically at the land registry. Only after that does the seller's lawyer authorize the keys to be released. Electronic registration in Ontario runs Monday to Friday, 8:30 a.m. to 5:00 p.m. local jurisdiction time, and is closed on statutory holidays. That is why keys usually arrive in the afternoon, and why the standard Ontario Agreement of Purchase and Sale gives until 6:00 p.m. on the completion date rather than noon.
The order things actually happen
- A few days before. Your lawyer completes the title search, sends requisitions to the seller's lawyer, receives your mortgage instructions from the lender, and prepares the statement of adjustments. You go in to sign, and your lawyer tells you the exact balance you owe.
- Your money goes first. You deliver your closing funds to your lawyer's trust account before closing day, not on it.
- The lender advances. On the closing date the lender releases the mortgage money to your lawyer. This is the single item you have the least control over, and it usually sets the pace of the day.
- The lawyers exchange. Your lawyer sends the balance to the seller's lawyer and receives the signed documents. Under the standard agreement this exchange does not happen at the same instant as registration, so whoever receives money or documents holds them in trust until the deal is done.
- Registration. The transfer and your mortgage are registered electronically through Ontario's land registration system. This is the moment the property is legally yours.
- Keys. The seller's lawyer confirms the deal has closed and authorizes release. In most transactions your agent then gets the keys to you.
Why the keys are not ready at nine in the morning
Two hard limits shape the day. The first is the lender. Nothing can move until the mortgage advance is in your lawyer's trust account, and lenders rarely fund first thing. The second is the registry itself. Documents can only be registered on a business day between 8:30 a.m. and 5:00 p.m., and the system does not register on statutory holidays.
The standard OREA Agreement of Purchase and Sale says the agreement shall be completed by no later than 6:00 p.m. on the completion date, and that upon completion, vacant possession of the property is given to the buyer unless the agreement says otherwise. Six o'clock is the outside limit, not the plan. Anyone who tells you the keys come at noon is describing a good day, not a rule.
What closing in escrow means
Because electronic registration is instant but money transfers are not, Ontario closings run on trust conditions. The standard agreement spells this out: the exchange of closing funds and the other requisite deliveries will not occur at the same time as the registration of the transfer, and the lawyer receiving them is required to hold them in trust. Lawyers use a document registration agreement to set out exactly what each side may do, and when, so neither party is exposed in the gap.
Closing funds also have to be real money. The agreement calls for a bank draft, a certified cheque, or a wire transfer through the Large Value Transfer System. A personal cheque or an e-transfer is not closing funds, and wires sent late in the day can miss the cut. Ask your lawyer what they want and send it at least a couple of business days early.
What gets adjusted
You will not pay exactly the purchase price. The statement of adjustments settles up anything the seller has prepaid or left owing. Under the standard agreement, rents, mortgage interest, realty taxes including local improvement rates, unmetered public or private utility charges and the unmetered cost of fuel are apportioned to the day of completion, with the day of completion itself going to the buyer.
In practice that means if the seller paid property taxes past your closing date, you reimburse the portion that covers your ownership. If taxes are in arrears, you get a credit. Around here the fuel line matters more than people expect: a full oil or propane tank is a real number, and it belongs on the statement. If you want to sanity check the tax side before you ever get to this point, our guide to property taxes in Eastern Ontario walks through how the bill is built.
What to have done before closing day
- Closing funds delivered to your lawyer as certified funds or a wire, a couple of business days ahead.
- Home insurance bound and effective on the closing date, with the binder sent to your lender and your lawyer. Buildings stay at the seller's risk until completion under the standard agreement, but your lender will not advance without proof of coverage. If the home is older or rural, read what insurers ask about older and rural homes well before this week.
- Your mortgage fully instructed and unconditional. If anything about your file changed after approval, see what a pre-approval actually guarantees.
- Hydro, gas, water and internet arranged in your name from the closing date.
- Movers booked for the afternoon, or for the following morning. Not for nine o'clock.
- Somewhere to wait that is not the cab of a truck. Plan for a few hours.
- A pre-closing visit arranged, if your agreement gives you one. The standard form's inspection clause only records that you had the opportunity to inspect the property before you signed. It does not create a walkthrough right on its own.
- Address changes done, and a plan for the mail.
When the day does not go to plan
Late funding, a wire that misses a cut-off, a title problem that surfaces on the last requisition, or a seller who is still loading a truck at four o'clock. Most late closings still finish the same day. The one that hurts is the one that cannot register before the registry closes, because then completion moves to the next business day and you are holding a loaded truck overnight.
If that happens, it stops being a real estate question and becomes a legal one. Your lawyer deals with the other side's lawyer on late closing interest, occupancy and any claim for your costs. Call your lawyer first, and keep receipts for anything the delay costs you. Nothing in this article is legal advice, and your own lawyer's read of your specific agreement governs.
If you are selling and buying on the same day
Your purchase usually depends on the proceeds of your sale, which means your sale has to close before your purchase can. Two relays, back to back, and the second cannot start until the first finishes. That is why same-day moves run late, and why some people deliberately leave a day or two between the two dates. Our piece on how the deposit and down payment fit together covers where the money sits along the way.
Common questions
Can I close on a Saturday?
No. Documents are registered Monday to Friday, 8:30 a.m. to 5:00 p.m., and not on statutory holidays, so completion dates land on business days.
Who actually hands me the keys?
Usually your agent, once the seller's lawyer confirms the transaction has registered and authorizes release. Sometimes the keys are left in a lockbox for your agent to collect.
Do I need to be at my lawyer's office on closing day?
Normally no. The signing happens a few days earlier. Closing day is mostly your lawyer's day, not yours.
Can I move in the night before?
No. You do not own the property until the transfer registers, and possession is given upon completion. Early access only happens if the agreement provides for it.
If you want a second set of eyes on your dates
If you are working through an offer and trying to pick a completion date, or you are partway to a closing and not sure what is still outstanding, I am happy to walk through it with you. No obligation to list or sign anything. You can get in touch here, and if you are still earlier in the process, our step-by-step guide to buying a resale home in Ontario covers everything ahead of this stage.
Sources: the standard OREA Agreement of Purchase and Sale, Form 100 (completion time and vacant possession, electronic registration and trust conditions, inspection, insurance and risk, adjustments, and the form of closing funds); Teraview hours of service for Ontario electronic land registration, including document registration hours and statutory holiday closures. Reviewed September 2026. General information for Ontario buyers and sellers, not legal advice.