Closing Day in the GTA: What to Expect

Closing day is the final step in your home purchase. It’s the day your lawyer transfers funds, registers the property in your name, and confirms possession. In the GTA, closings usually happen between late morning and early afternoon, although timing depends on your lender and lawyer.

As Realtors who have helped many GTA buyers close on condos, townhouses, and detached homes, we often see the same questions come up. This article outlines what actually happens on closing day in Ontario and what you can do to avoid delays.

If you’re earlier in the buying journey, the First-Time Home Buyer Guide Ontario covers everything from offers to home inspections and closing costs.

What Happens on Closing Day in the GTA

Your lender and lawyer complete several steps before keys can be released. These steps are similar across Ontario but timing in the GTA tends to be more sensitive due to higher transaction volume and bank cutoffs.

1. Your lender sends the mortgage funds

Banks usually transfer mortgage funds to your lawyer’s trust account between 10:00 a.m. and 2:00 p.m. Some lenders send earlier, some later. Month-end closings in the GTA often see longer wait times.

2. Your lawyer completes final title checks

The lawyer confirms there are no new liens or registrations that could affect ownership. If anything appears in the final search, it must be resolved before closing.

3. Your lawyer releases funds to the seller’s lawyer

Once everything is verified, your lawyer sends the purchase funds. The seller’s lawyer must confirm receipt before the title can be transferred.

4. The property is registered in your name

Your lawyer completes electronic registration through Ontario’s land registry system. When this step is complete, you officially own the home.

As Realtors, we stay in contact with the lawyer’s office so you know when keys will be ready, especially if you’re coordinating movers.

When You Get the Keys

Most GTA buyers receive keys between 3:00 p.m. and 6:00 p.m.

Key release depends on:

• When the lender sends funds
• When the seller’s lawyer confirms receipt
• Registration timing
• Whether the seller has fully vacated

If you’re hiring movers, avoid scheduling them before late afternoon. This is one of the most common mistakes we see buyers make.

Common Closing Day Delays

Closing delays are not unusual in the GTA. Most are resolved the same day.

Funding delays

Banks may send funds later than expected, especially during busy periods or on Fridays.

Seller not ready

If the seller is still moving out, access may be delayed until the home is vacant.

Document corrections

Incorrect signatures or missing identification may need last-minute fixes.

Condo-specific issues

Condo offices may have reduced hours for picking up fobs or access cards.

We always recommend doing your final walkthrough the evening before closing so anything that needs addressing can be handled early.

Your Lawyer’s Role on Closing Day

Your lawyer manages all legal steps, including:

• Receiving mortgage funds
• Confirming the seller has met their obligations
• Ensuring utilities, taxes, and condo fees are up to date
• Registering the transfer and mortgage
• Confirming the exact time keys will be released
• Providing your final closing report

You’re required to close with a real estate lawyer in Ontario. Choosing one familiar with GTA closings can make the process smoother.

Tips for a Smooth Closing Day

From our experience helping GTA and Niagara buyers, here are practices that prevent delays:

• Keep your phone available for lawyer or lender updates
• Arrange insurance before closing
• Transfer utilities ahead of time
• Avoid booking movers before 4:00 p.m.
• Keep your photo ID accessible
• Expect that keys may not be available until late afternoon

These simple steps reduce stress and keep the process moving.

Buying in the GTA but Moving to the Niagara Region

If your move involves selling in the GTA and buying in Niagara, make sure closing times are coordinated. This is especially important if both closings happen on the same day.

Buyers relocating to Niagara often ask about funding timing and logistics. The article Mortgage Financing Simplified: Ontario Homebuyers explains lender cutoffs, down payments, and how funding works between cities.

Need help preparing for closing day?