Learn about the closing day essentials your lawyer handles to ensure your Ontario real estate deal finishes smoothly and on time.
If you’ve ever bought or sold property in Ontario, you know how exciting—and stressful—closing day can be. It’s the day keys change hands, funds are transferred, and ownership officially moves from seller to buyer.
But while you’re packing boxes or waiting for the go-ahead to move in, your closing day lawyer is working behind the scenes to make sure everything goes according to plan.
Here’s what you should know about the legal process on closing day—and how your lawyer helps make it all happen.
What Happens on Closing Day?
Closing day is when the legal transfer of property takes place. It’s not just about handing over keys. In Ontario, your lawyer handles several crucial steps to complete the transaction and ensure you’re legally protected.
For buyers and sellers alike, your closing day lawyer plays a central role in making sure nothing is missed. At Boardwalk Law, we handle each of the following:
✔️ Transfer of Purchase Funds
We coordinate with the bank, mortgage broker, and the other party’s lawyer to transfer the balance owing. Funds are held in trust until all conditions are satisfied.
✔️ Registration of Transfer and Mortgage
Once the funds are ready, we officially register the property transfer—and, if applicable, the mortgage—through Ontario’s Land Registry system.
✔️ Utility and Tax Adjustments
We calculate and confirm any adjustments related to prepaid property taxes, utility bills, or condo fees so both parties only pay for the time they owned the property.
✔️ Final Reporting
After the transaction closes, we issue a final report that includes proof of registration, mortgage details, and copies of all legal documents for your records.
READ MORE > A Guide to Real Estate Law in Ontario
What Buyers Should Expect
If you’re the buyer, your lawyer will ensure:
- The title is free of liens or encumbrances
- The property is legally transferred into your name
- Mortgage funds are received and properly applied
- Adjustments are fair and clearly documented
- You get your keys (usually by late afternoon)
We’ll also review the Statement of Adjustments, trust ledger, and title insurance to confirm everything adds up before closing.
What Sellers Should Expect
If you’re the seller, your lawyer will:
- Confirm the payout and discharge of any mortgages
- Arrange for delivery of the deed and closing documents
- Receive and verify funds from the buyer’s lawyer
- Provide you with your net proceeds after closing
We also ensure the deal closes cleanly so you’re no longer legally tied to the property.
What Can Delay a Closing?
Even simple transactions can hit unexpected bumps. Common causes for delay include:
- Missing paperwork or ID
- Mortgage funds arriving late
- Last-minute issues with title
- Miscommunication about keys or possession time
Having a responsive and thorough closing day lawyer helps prevent delays and ensures quick resolution if any problems arise.
Closing Day Essentials Includes Working with the Right Team
Closing day is the finish line—but there’s a lot of coordination required to get there. At Boardwalk Law, we work closely with clients, lenders, realtors, and municipal offices to ensure everything is legally sound and on schedule.
Whether you’re buying your first home or selling a commercial property, we’ll walk you through each step and keep you informed until the deal is done.
📞 Questions about your upcoming closing?
Contact Pavel Malysheuski, Associate Lawyer at Boardwalk Law.
📍 Offices in Brampton & Georgetown
📞 905-863-7428
📧 [email protected]
