Closing is the day ownership and money actually change hands. In Ontario it's handled largely by the lawyers — but knowing the sequence keeps you from panicking when the keys don't move at breakfast.
The lawyers do the heavy lifting
Your lawyer and the buyer's lawyer exchange documents, the buyer's lawyer sends the funds, title is transferred electronically, and your mortgage (if any) is paid off and discharged. You generally don't attend anything on the day itself — the prep happened in the days before.
Money and title move together
The buyer's lawyer registers the transfer of title and releases the balance of the purchase price. Your lawyer receives it, pays off your remaining mortgage and any adjustments, and forwards the net proceeds to you. See seller closing costs for what comes off the top.
Keys release when funds are confirmed
Keys don't release until the money has actually changed hands, which can be mid-afternoon rather than 9am. It's normal, not a problem. Arrange key handover through your lawyers or agents, not informally.
What you do before the day
- Sign your closing documents with your lawyer ahead of time.
- Move out and leave the home in the agreed condition, with agreed inclusions in place.
- Cancel or transfer utilities and insurance for the closing date.
- Leave keys, garage remotes, mail keys and any manuals as arranged.
Adjustments
Prepaid property taxes or utilities get "adjusted" so each side pays for their share of the closing month. Your lawyer calculates these on the statement of adjustments.
If you want licensed coordination from the accepted offer all the way through closing — deposits, paperwork and working with your lawyer — see Offer-to-Closing Support.
General information for Ontario sellers, not legal advice. Closings are handled by your real estate lawyer — rely on their guidance for your transaction.
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