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3-Step Buyers Home Closing Guide

3-Step Buyers Home Closing Guide

Once your offer is accepted, this starts the Ball Rolling towards the ultimate Goal of closing Day and getting the Keys in your Hand..There are several Steps involved in the Closing Process.

Step 1: Offer Accepted - Now What?

  • Deposit is made and delivered to the Listing Brokerage (within 24 hours) of acceptance.
  • Within the Offer (schedule A) take note of your conditions, and what dates must be met. Usually, Financing or/and Inspection conditions are two.
  • Think of a lawyer to close your deal, or Review the paperwork.


Step 2: Preparing to Remove Your Conditions

  • Inspections - Hire an Inspector & get the report 
  • Mortgage Financing Condition - Appraisal of the property may have to be done. Finalize all paperwork for mortgage approval.


Step 3: Your Offer is Now Firm!


​Posession Day:

  • Your lawyer will complete the paperwork, so the home is legally in your possession
  • A few days before closing day the paperwork will be signed with your lawyer
  • On closing day, access to your keys will be arranged for pickup either at lawyers office or by lockbox access


View All Steps in the Closing Process

Source:  OREA (Ontario Real Estate Association)

Closing Steps.pdf115.23 KB

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