Do I need to be present on closing day?

Usually not. In Ontario, the exchange of money and documents typically takes place electronically between the lawyers under an escrow arrangement. You will typically be moving or waiting for confirmation that your keys are ready.

When do I get the keys on closing day?

Keys are released according to the agreed closing arrangements after completion has occurred, so you should not assume you will have them at 9 a.m. The timing depends on when funds arrive, whether the electronic registration has completed, and how busy the land registry is.

When do I need to pay my down payment and closing funds?

Your lawyer will usually need your down payment and closing funds before closing day, often a day or two in advance. Delivering funds by the deadline and accepted payment method your lawyer sets ensures the transaction is ready to proceed on time.

What does a real estate lawyer do on closing day?

Your lawyer confirms your closing funds are in place and arranges the exchange of money and documents with the seller's lawyer under a Document Registration Agreement. They also register the transfer and mortgage electronically, pay the Land Transfer Tax through registration, and coordinate the release of keys.

What Happens on Closing Day When You Buy a Home?

Key takeaways

Closing day is when ownership passes to you, once the transfer is registered and the escrow conditions the lawyers agreed have been met.
Your lawyer will usually need your down payment and closing funds before closing day; meet the specific deadline and payment method your lawyer sets.
The lawyers arrange for money and documents to change hands — commonly under an escrow arrangement — and the transfer and mortgage are registered electronically, with the Land Transfer Tax paid through that registration.
Keys are released according to the closing arrangements after completion, so the timing can vary — don’t assume a 9 a.m. move.

What actually happens on closing day?

Closing day is the day ownership of the home typically transfers to you. It’s the finish line of the whole buying process — the moment the property stops being the seller’s and becomes yours.

Most of what happens is handled by the lawyers, not by you. In Ontario, electronic closings commonly operate under an escrow arrangement — often set out in a Document Registration Agreement between the two law offices. Rather than everyone literally exchanging every signed document in person, the lawyers agree in advance on the terms, then the funds, the keys and the off-title documents are handled separately while the transfer of ownership and your new mortgage are registered electronically with the land registry. The Land Transfer Tax is paid through that electronic registration.

Here’s the important part to understand: unlike the movies, there’s usually no big table where everyone shakes hands at 9 a.m. In Ontario the process runs mostly electronically between the two law offices over the course of the day, and the exact arrangements depend on your lawyer. You typically won’t be in the room — you’ll likely be packing a truck or waiting for a phone call.

The steps, in a typical closing, look roughly like this:

Your lawyer confirms your funds are in place and prepares the final documents.
The two lawyers agree on the closing arrangements — commonly an escrow / Document Registration Agreement — and the funds, keys and off-title documents are handled accordingly.
The transfer of ownership and your mortgage are registered electronically, with the Land Transfer Tax paid through that registration.
Once completion has happened, the keys are released to you according to those arrangements.

When do I get the keys?

You typically get the keys according to the closing arrangements once completion has happened — and depending on how the day unfolds, that may not be first thing in the morning.

This is a common surprise for first-time buyers, so it’s worth stating plainly: don’t assume you’ll have keys at 9 a.m. Registration and release of keys generally happen after the funds have moved and the closing terms have been met, and that process takes time to work through.

Why the wait? A few reasons:

The seller’s side generally has to confirm the money has arrived before releasing possession.
The electronic registration of the transfer and mortgage usually has to be completed first.
On busy closing days (Fridays and month-ends are especially heavy), many deals close at once, which can slow things down.

Once the closing conditions are met, your lawyer’s office will let you know the keys are ready. Depending on the arrangements, keys may come from a lockbox, from a real estate representative, or through your lawyer’s office — your lawyer will tell you exactly how and where to get them.

When do I need to hand over my money?

Your lawyer will usually need your down payment and closing funds before closing day — often a day or two ahead, though the exact deadline is set by your lawyer, not by a fixed legal rule.

This trips people up, so plan for it. The money generally needs to be in your lawyer’s hands early so it’s ready to move when closing begins. If your funds aren’t there in time, your lawyer may not be able to complete the closing, and it can be delayed.

A few practical points:

Get the money to your lawyer by the deadline your lawyer sets, and use the payment method they permit.
Large amounts often move faster and more safely by bank draft or wire transfer than by personal cheque — confirm the accepted method with your lawyer, as this varies by firm.
If your down payment is coming from investments, an RRSP, or a gift, free it up early. Selling investments or transferring funds between institutions can take several business days.

The takeaway: the last-minute item on closing day should never be your money. Handle that in advance so the day itself is just about getting your keys.

What does my lawyer do on closing day?

In Ontario this work is handled by your own real estate lawyer — the advice, the title opinion and the compliance-with-law statements that electronic registration requires can only come from a lawyer, so it is not something you do yourself.Law Society of Ontario

On closing day, your lawyer typically:

Confirms your down payment and closing funds are in place.
Arranges for the money and documents to change hands with the seller’s lawyer, commonly under an escrow / Document Registration Agreement.
Registers the transfer of ownership and your mortgage electronically with the land registry, and pays the Land Transfer Tax through that registration.
Confirms the closing is complete and arranges for your keys to be released according to the closing arrangements.

Your lawyer is also the person coordinating with the seller’s lawyer and your mortgage lender to make sure the pieces line up. If a snag comes up — say a delay in funds arriving — your lawyer is generally the one who sorts it out and keeps you informed.

Because the process is legal and technical, having your own licensed real estate lawyer handle it is the usual way closings are done in Ontario.

How should I plan my moving day?

It’s wise to plan your move with some flexibility on the key handover, since the timing can vary. Setting realistic expectations here saves a lot of stress.

A few suggestions:

Be cautious about booking movers for first thing in the morning if you can’t get into the new home until you have keys. If your schedule is tight, ask your lawyer roughly when they expect to close, and build in a buffer.
Avoid overlapping deadlines. If you’re also selling a home the same day, both closings can run later than expected. Give yourself breathing room.
Keep your phone handy. Your lawyer’s office will call or email once the keys are ready.
Have a backup plan for a late-day close — somewhere to wait, and flexibility with your movers if possible.

Closing day is exciting, but the timing depends on your lender’s funding, the other side, land-registry system availability and the closing deadline set out in your agreement — not the clock on your wall. Build in some flexibility, get your money in early, and let your lawyer handle the rest.