Congratulations, Closing Day is the day you become the official
owner of your home.
However, the closing process usually takes a few days.
Typically, a few days prior to your scheduled closing date that has
been identified on your Agreement of Purchase and Sale, you will
need to visit your lawyer's office to review and sign documents
relating to the mortgage, the property you are buying, the ownership
of the property and the conditions of the purchase. Your lawyer will
also ask you to bring a certified cheque to cover the closing costs
and any other outstanding costs.
NOTE: At this meeting you will need to be prepared to show personal
photo identification documentation ie: passport, driver's licence
and social insurance card. Note: expired id. will not be accepted.
These documents will be copied for file records for each and every
Before keys can be released by the lawyer to you on the date of
closing, the mortgage lender must provide closing monies, any
closing cheques must be certified, documents must be exchanged
between the lawyers for the buyer and seller, and the land registry
office registrations must be completed. By the time all of these
things happen on closing day (and these things MUST happen first
before the key can be released to you), it will usually be late in
the afternoon and often be about 5 p.m. on the date of closing and
keys can only be released to you at this time.
CAUTION if you are moving on closing day or arranging for work to be
done on your purchased residence, we suggest that you consider
arranging movers to arrive at the property late in the afternoon in
order to avoid unnecessary moving costs if you are paying movers on
an hourly basis.
Once your mortgage and the deed for the property are officially
recorded, you become the official owner of the property and your
lawyer will call you to pick up the keys to your new home. Ensure
that you have made arrangements ahead of time with your lawyer for