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Summary: A residential real estate closing in Ontario typically takes 30 to 90 days from accepted offer to key handover, with most files closing in 60 days. The length depends on financing, the agreement of purchase and sale deadlines, and how complex the title is.
What does "closing" actually mean?
Closing is the legal act of transferring ownership from seller to buyer. It is a single registered moment on title — not a span of weeks. The weeks before are the closing period, when the lawyer, lender, and parties prepare everything so the transfer can register cleanly on the agreed date.
The closing date itself is fixed in the agreement of purchase and sale (APS) when the offer is accepted. Everything in this post happens between that acceptance and the registered closing.
What sets the closing date in the first place?
The closing date is set in the agreement of purchase and sale (APS) when the buyer's offer is accepted. The two sides pick a date that works for both: enough time for the buyer to arrange financing, enough notice for the seller to move out.
Three things mostly drive the chosen length:
Financing readiness. A buyer with a fully approved mortgage can close in 30 days. A buyer still waiting on an appraisal or working with a niche lender often needs 60 to 90.
Property type. Resale freehold homes close fastest. Condos add a status certificate review of 5 to 10 days. Pre-construction follows its own timeline driven by the builder.
Seller's situation. If the seller is buying their next home on the same day, both files must line up. That usually pushes timelines out so the chain can be coordinated.
What happens day-by-day in a typical 60-day Ontario closing?
A 60-day closing has roughly five stages, each running into the next. Here is what a typical purchase file looks like from the day the offer is accepted to the day the buyer receives the keys.
Days 0 to 5: offer accepted and deposit delivered. The APS is signed by both sides. The buyer pays the deposit (commonly 5% of the purchase price) to the listing brokerage's trust account within 24 hours. The agent sends the signed APS to the buyer's real estate lawyer.
Days 5 to 15: conditions are removed. Financing, home inspection, and (for condos) status certificate review happen during this window. Once all conditions are satisfied or waived, the agreement becomes firm and the deposit becomes non-refundable.
Days 15 to 45: title and lender work. The lawyer searches title, orders title insurance, requests payout statements for the seller's mortgage, and receives mortgage instructions from the buyer's lender. This is the longest stretch and most of it is invisible to the buyer.
Days 45 to 58: signing appointment and closing funds. Roughly one to two weeks before closing, the buyer's lawyer prepares the statement of adjustments and closing documents. The buyer signs (often remotely via video) and wires the closing funds, typically the down payment balance, land transfer tax, and legal fees, into the lawyer's trust account.
Day 59 or 60: registration and keys. On the closing date, the lawyers exchange documents and funds through teraview (the Ontario electronic land registration system). Once the transfer is registered, the listing brokerage releases the keys to the buyer, usually by mid-to-late afternoon.
What can delay your Ontario closing, and by how much?
Closing delays in Ontario are usually predictable and recoverable, but any delay past the registered closing date puts the buyer in breach of the APS and can cost them their deposit. Five common causes:
Late mortgage approval. Adds 1 to 7 days. The lender's underwriting hasn't returned final approval or has asked for one more document.
Title issues found late. Adds 5 to 14 days. Unregistered easements, outstanding work orders, or an old mortgage that was never discharged on title.
Status certificate problems on a condo. Adds 7 to 21 days. The certificate reveals a special assessment, ongoing litigation, or a shortfall in the reserve fund.
Same-day buy-and-sell that breaks. Adds 1 to 30 days. If the seller's own purchase falls through, the chain unwinds and a new closing date must be coordinated.
Wire transfer cut-off missed. Adds one business day. Bank cut-offs for Land Registry wires are usually mid-afternoon, so a late wire pushes the file to the next day.
If a delay is foreseeable, the lawyers will usually negotiate a mutual extension of the closing date by agreement. That keeps both parties out of breach and is far less costly than a missed close.
Can you speed up an Ontario closing?
You can sometimes speed up an Ontario closing. A 30-day close is achievable when financing is genuinely in hand and the property is a clean resale freehold. Going below 30 days starts to crowd the timelines that lenders, the registry system, and the lawyer's office actually need.
Here is how the three typical closing lengths compare:
30-day close | 60-day close | 90-day close | |
Buyer profile | Fully approved, funds ready | Pre-approved, standard process | Conditional approval, niche lender |
Property type | Resale freehold | Resale freehold or condo | Condo or pre-construction |
Title review time | Compressed (7 to 10 days) | Standard (14 to 21 days) | Extended (21 to 30 days) |
Risk of delay | Higher (little slack) | Lower (built-in buffer) | Lowest (generous timing) |
Common use | Move-up buyers in a hurry | Default for most files | Self-employed buyers, condos |
If speed matters, the most useful steps are to get a full mortgage approval before making the offer, confirm your real estate lawyer has capacity for the closing date before signing the APS, and gather your government identification and proof of down payment early.
Frequently asked questions
Is the closing date in the APS binding?
Yes. The closing date is a fundamental term of the agreement of purchase and sale. If either party fails to close on that date without a signed extension, they are in breach. That can mean losing the deposit (buyer) or facing a damages claim (seller).
Do I have to attend a closing in person?
No. Most Ontario closings are now done remotely. The buyer signs documents over video with their lawyer using verified identification, then wires the closing funds into the lawyer's trust account. Keys are picked up from the listing brokerage on the closing date.
When do I pay land transfer tax?
You pay land transfer tax to your real estate lawyer along with your closing funds, usually a few days before closing. The lawyer remits it on your behalf when the transfer registers on teraview. First-time buyers may claim the Ontario rebate (up to $4,000) and, in Toronto, the municipal rebate (up to $4,475) at closing.
What if my mortgage isn't approved in time?
If your lender hasn't issued final approval close to the closing date, tell your real estate lawyer right away. They can negotiate a short extension of the closing date with the seller's lawyer, usually by a few days, while the financing is sorted out. Acting early is what keeps the deposit safe.
Can the closing date be changed after the APS is signed?
Yes, but only by mutual written agreement between buyer and seller. One side cannot unilaterally move the date. Extensions are routine when there is a real reason, such as late financing, an unresolved title issue, or a delay in the seller's own purchase further up the chain.
How long does the actual key handover take on closing day?
Registration usually completes between noon and 4:00 pm on the closing date. Keys are released by the listing brokerage once the buyer's lawyer confirms the transfer is registered. Most buyers have the keys in hand by late afternoon, though earlier closings are possible.
About the author
Joel Fox is a co-founder and COO at Ownright. He helps run the firm's day-to-day work on Ontario residential closings, refinances, and sales, and writes regularly to demystify the parts of a transaction that most homeowners only encounter once or twice in their lives.
At Ownright, we focus entirely on Ontario residential real estate law. We help homeowners with purchase closings, refinancing, and sales through our digital platform with licensed Ontario lawyers. You can start your closing online or get in touch with any questions.
Legal references: Agreements of purchase and sale in Ontario are governed by general contract law; closings are registered electronically under the Land Registration Reform Act, R.S.O. 1990, c. L.4 and the Land Titles Act, R.S.O. 1990, c. L.5. Land transfer tax is imposed under the Land Transfer Tax Act, R.S.O. 1990, c. L.6.
Important note: This article is not legal advice. No one should act, or refrain from acting, based solely on the information in this post or any linked materials without first seeking appropriate legal or professional advice.
