Land transfer tax
Ontario tax and, for Toronto properties, municipal land transfer tax—less eligible rebates.
04 · CLOSE WITH CONFIDENCE
Your offer is accepted.
Now what happens?
Closing is the legal and financial process that transfers ownership to you. Know the milestones, costs and responsibilities before closing day.
See the closing roadmap →FROM ACCEPTANCE TO KEYS
Five closing milestones.
- 01Complete conditions
Satisfy financing, inspection or status review conditions.
- 02Send documents
Your lawyer receives the agreement and lender instructions.
- 03Review title
Your lawyer checks title, taxes, adjustments and insurance.
- 04Deliver funds
Provide the down payment balance and closing funds.
- 05Close & collect keys
Funds and title transfer before keys are released.
COSTS BEYOND THE DOWN PAYMENT
Prepare the full cash requirement.
Estimate your closing costs and cash needed to purchase.
Your lawyer and mortgage professional can confirm the amounts for your transaction.
Legal fees & disbursements
Professional fees plus registration, searches, courier and other transaction expenses.
Title insurance
Coverage commonly arranged through your lawyer for certain title-related risks.
Adjustments
Reimbursements for prepaid taxes, condo fees or other agreed items.
Mortgage expenses
Appraisal, default insurance or lender-related costs may apply.
Immediate reserves
Keep room for utility setup, repairs and early ownership surprises.
ASK RICHARD
Have a question about closing?
Share what stage you are at and what you would like clarified.