What happens after my offer is accepted on a house in Canada?

After acceptance, you enter the condition period (typically 5–10 business days) where you complete the home inspection, finalize mortgage approval, and arrange insurance. Once conditions are waived, your lawyer handles the title search, mortgage registration, and closing documents. On closing day, you sign the paperwork, your lawyer transfers the funds, and you receive the keys.

How long does it take to close on a house in Canada?

Typical closing periods are 30–90 days from the date of the accepted offer; about 60 days is common, which gives time for financing, inspections, and legal work. In competitive markets, shorter closings (30–45 days) may be offered to strengthen a bid. Your real estate lawyer coordinates the timeline.

Do I need a lawyer to buy a house in Canada?

In practice, yes. Outside Quebec (where notaries handle real estate transactions) and BC (where a lawyer or a notary can), a real estate lawyer handles the title search, mortgage registration, fund transfer, and closing documents. Legal fees for a standard purchase are typically $1,000–$2,500 plus disbursements.

What is a condition period when buying a house?

The condition period is the window of time (typically 5–10 business days) after your offer is accepted during which you must satisfy certain conditions — usually financing approval, home inspection, and review of the status certificate (for condos). If a condition isn't met, the deal ends and the deposit is returned once both parties sign a release.

When do I pay the deposit and the down payment?

The deposit (typically $5,000–$25,000 or 1%–5% of the purchase price) is paid within 24 hours of the offer being accepted, held in trust by the listing brokerage. The remainder of the down payment is paid on closing day through your lawyer. The deposit is credited toward your down payment at closing.

What happens on closing day?

On closing day, you visit your lawyer to sign the mortgage documents and closing paperwork. Your lawyer transfers the purchase price (from your down payment and mortgage funds) to the seller's lawyer. Title is registered in your name. You receive the keys — typically by mid-afternoon, though it can be later if there are delays in the chain.

Offer Accepted to Closing in Canada (2026): Step-by-Step Timeline

Your offer was accepted — now what? The period between an accepted offer and closing day involves more steps than most buyers expect. Here is every stage, what happens, who handles it, and your responsibilities.

Timeline overview

Day	Stage	Who Handles It	Your Role
Day 0	Offer accepted	Real estate agents	Sign the agreement
Day 1	Deposit due	You (cheque or wire)	Deliver deposit to listing brokerage
Days 1–3	Home inspection	Home inspector (you hire)	Attend the inspection
Days 1–5	Mortgage application submitted	Lender or broker	Provide documents
Days 3–7	Appraisal ordered	Lender	Provide property access if needed
Days 5–10	All conditions due	You	Waive or exercise conditions
Days 10–30	Lawyer completes title search	Your real estate lawyer	Hire a lawyer if you haven’t
Days 15–45	Mortgage commitment received	Lender	Sign mortgage commitment
Days 30–60	Arrange property insurance	You	Shop and purchase home insurance
Day 55–59	Final walkthrough	You	Inspect the property one last time
Closing day	Sign, fund, get keys	Lawyer + lender	Bring ID, certified cheque, and sign

Step 1: Deposit (Day 1)

Detail	Information
Amount	Typically 1%–5% of purchase price ($5,000–$25,000 on a $500,000 home)
Due	Within 24 hours of acceptance (as specified in the offer)
Form	Certified cheque, bank draft, or wire transfer
Held by	Listing brokerage, in trust
Refundable?	Yes, under a mutual release, if a condition isn’t met within the condition period. No, if you back out after waiving conditions
Applied at closing	Credited toward your down payment

Common mistake: Not having the deposit funds immediately accessible. Prepare a certified cheque or bank draft before submitting your offer.

Step 2: Home inspection (Days 1–3)

Book your home inspection as soon as the offer is accepted — inspectors in busy markets may have 2–3 day wait times.

Detail	Information
Cost	$350–$600 for a typical house
Duration	2–4 hours
Who attends	The inspector, and usually the buyer
Report delivered	Same day or next day
What happens next	Negotiate repairs, request price reduction, or walk away

→ See: Home Inspection Guide Canada

Step 3: Finalize mortgage approval (Days 1–10)

Your lender needs to approve the specific property, not just your financial profile.

Task	Timeline	Notes
Submit purchase agreement to lender	Day 1	Your broker or banker handles this
Appraisal ordered by lender	Days 2–5	Costs $300–$500 (sometimes lender-covered)
Appraisal completed	Days 5–10	Appraiser visits property and submits report
Conditional mortgage approval	Days 5–10	Lender confirms they will fund the mortgage

→ See: How Long Does Mortgage Approval Take?

Step 4: Status certificate review — condos only (Days 1–10)

Detail	Information
What it is	A document from the condo corporation detailing finances, rules, lawsuits, and reserve fund health
Cost	In Ontario: The corporation can charge up to $100, including taxes and materials, and must offer delivery within 10 days at that price. Paid by the seller or the buyer, depending on the offer.
Review by	Usually your lawyer (and often required by the lender)
Red flags	Low reserve fund, special assessments, ongoing litigation, insurance issues
Timeline	A corporation may deliver faster than 10 days for a rush fee, but the capped option must be available. The review itself often takes a few days.

Step 5: Waive or exercise conditions (Day 5–10)

This is the most important deadline in the process.

Action	When	What Happens
Waive all conditions	By the condition deadline	Deal becomes firm and binding
Condition not met	Before the deadline	Deal ends and the deposit is returned under a mutual release
Request an extension	Before the deadline	Seller may or may not agree
Miss the deadline	On the deadline	Depends on the clause: most standard buyer’s conditions make the deal void if not waived in time

Once you waive conditions, you are legally committed to purchase the property. Backing out after waiving conditions means the seller can claim your deposit and sue for damages.

Step 6: Hire a real estate lawyer (if not already done)

Detail	Information
When to hire	Often before making offers, or right after acceptance
Cost	$1,000–$2,500 + disbursements ($200–$500)
What they do	Title search, mortgage registration, fund transfer, closing documents
How to find one	Referrals from your real estate agent or mortgage broker

What your lawyer checks

Check	What They’re Looking For
Title search	Clean title — no liens, mortgages, or encumbrances
Property tax status	Taxes are current (unpaid taxes become your problem)
Zoning compliance	Property use matches zoning bylaws
Building permits	Renovations were properly permitted
Easements and rights of way	No surprises about shared access
Survey or title insurance	Property boundaries are correct

Step 7: Arrange property insurance (Days 30–60)

Your lender requires proof of home insurance before they will release the mortgage funds.

Detail	Information
When to arrange	Before closing, early enough for the lender and lawyer to get proof
What’s needed	Proof of insurance (binder letter) sent to your lawyer and lender
Coverage required	At minimum, replacement cost coverage that satisfies the lender
Cost	$1,000–$3,000+/year depending on property type and location

→ See: Best Home Insurance in Canada

Step 8: Final walkthrough (1–2 days before closing)

What to Check	Why
All agreed-upon repairs completed	Seller was supposed to fix items from inspection negotiation
Appliances and fixtures included in the sale are present	Sometimes sellers remove fixtures not included in the agreement
No new damage	Water damage, broken windows, holes in walls
Property is clean and vacant (unless otherwise agreed)	Seller should have moved out
All systems working	Run taps, flush toilets, test furnace/AC, check lights
Garage door openers, keys, access codes	Seller should leave all access devices

If something is wrong, notify your lawyer immediately. They can hold back funds from the seller to cover the issue.

Step 9: Closing day

What to bring to your lawyer’s office

Item	Notes
Government-issued photo ID	Same ID used on your mortgage application
Certified cheque or bank draft	For the remaining down payment and closing costs
Void cheque	For mortgage payment setup
Proof of insurance	If not already sent to the lawyer

What you sign

Document	Purpose
Mortgage documents	Your agreement with the lender
Transfer/deed	Transfers property title to your name
Statement of adjustments	Final accounting of what you owe (purchase price, deposit credit, tax adjustments, legal fees)
Title insurance policy	Protects against title defects
Property tax undertaking	Confirms responsibility for future taxes

What happens with the money

Payment	From	To
Your down payment (minus deposit)	Your bank account → your lawyer	Seller’s lawyer
Mortgage funds	Your lender → your lawyer	Seller’s lawyer
Your deposit (held in trust)	Listing brokerage	Credited at closing
Closing costs	Your bank account → your lawyer	Various (lawyer, land transfer tax, title insurance)

When you get the keys

Province	Typical Key Release
Ontario	Same day — typically 3–6 PM
BC	1–2 business days after closing (due to registration process)
Alberta	Same day (once land titles confirms registration)
Quebec	Same day (notary handles closing)

Complete closing costs summary

Cost	Amount	Notes
Land transfer tax	Varies by province	Toronto buyers pay both Ontario’s and the city’s tax; Alberta and Saskatchewan charge only registration fees
Legal fees	$1,000–$2,500	Plus $200–$500 disbursements
Title insurance	$250–$400	Alternative to a property survey
Home inspection	$350–$600	Paid before closing
Appraisal	$300–$500	Sometimes covered by lender
Property insurance (first year)	$1,000–$3,000	Must be arranged before closing
Moving costs	$500–$5,000	Depends on distance and volume
Property tax adjustment	Varies	Prorated at closing for taxes the seller prepaid or still owes
Utility connections	$0–$200	Setup fees for hydro, gas, water, internet
CMHC insurance premium	2.80%–4.00% of mortgage	Only if down payment is under 20% (25-year amortization)

→ See: Closing Costs Guide by Province

From pre-approval to keys: the whole timeline

Phase	Typical Duration	What Happens
1. Financial preparation	6 months – 5 years	Save down payment, build credit, open FHSA, reduce debt
2. Pre-approval	1–3 days	Lender reviews income, credit, debts; issues rate hold
3. Active house hunting	1–6 months	Viewings, neighbourhood research, open houses
4. Making an offer	1–7 days	Offer preparation, negotiation, conditional acceptance
5. Conditional period	5–15 days	Inspection, financing approval, status certificate review
6. Conditions met → firm deal	1 day	All conditions waived, deal becomes binding
7. Closing preparation	30–90 days	Lawyer, insurance, final mortgage paperwork, walkthrough
8. Closing day	1 day	Funds transfer, keys handed over
Total (from active search to keys)	About 2–10 months (the sum of phases 2–8)

Factors that can delay the entire process

Delay Factor	How Long It Adds
Self-employed income verification	1–3 weeks (lenders need 2 years of NOAs, sometimes accountant-prepared financials)
Appraisal comes in low	1–2 weeks (renegotiate price, find additional funds, or switch lenders)
Condo status certificate delayed	1–2 weeks (management companies can be slow)
Legal title issue discovered	2–6 weeks (may need to resolve liens, easements, or boundary disputes)
Buyer needs to sell existing home first	1–3 months (adds a sale condition and depends on your buyer’s timeline)

Sources

The figures and rules on this page come from these sources, last checked against them between September 25, 2026 and September 29, 2026. How we check facts.

CMHC: CMHC Purchase
CMHC: Home Start
condoauthorityontario.ca: What is a status certificate and how much does it cost - Condominium Authority of Ontario