You listed. You negotiated. You sold.
But now, closing day is here — and if you’re like most sellers, you’re wondering: what actually happens on closing day? Closing day is when the deal becomes real.
The buyer officially takes ownership of the home, money changes hands, keys are released, and it’s done. But let’s break down the closing day process, because there are a few moving parts, and if you’re not prepared, this day can feel stressful.
Do you want step-by-step guidance through the entire selling process? Our Seller’s Guide will show you what happens from listed to sold. Download your copy for free right here.
The Day Before (or Morning of): The Final Walkthrough
This is one of the most underrated parts of of what happens on closing day, and it’s why working with a sharp, detail-oriented Realtor® really matters. The buyer (and their Realtor®) will usually do a final walkthrough of the home either the day before or the morning of their house closing. They’re checking to make sure:
- The home is in the same condition it was when they bought it.
- Any agreed-upon repairs have been completed.
- Chattels (like appliances or light fixtures) are still there, as per the agreement.
If anything is missing, broken, or not as expected, your house closing could be delayed or the buyer might ask for money back at the last minute. This is where your Realtor® should shine — confirming every box has been checked before closing day to avoid surprises.
Do you want some tips to make selling your home more straightforward and profitable? Start with the related reading below:
- Selling a Vacant Home in Niagara
- What Smart Upgrades Help Sell Your Home Faster and for More?
- Don’t Underestimate the Power of Curb Appeal
What Happens on Closing Day for the Seller:
As a seller you have some responsibilities to fulfill before you hand over the keys:
- Leave the house broom-swept clean (think “moving-day clean,” not “spring clean”).
- Remove all your belongings unless they were included in the sale.
- Leave behind any keys, garage remotes, and instruction manuals (label them if you can).
- Disconnect utilities and notify service providers of your move.
Pro tip: You legally need to be out of the house by the time the buyer takes possession. This usually happens mid-to-late afternoon on closing day once the money has been transferred. So be packed and gone before then.
What Does the Lawyer Do on Closing Day?
In Ontario, real estate lawyers handle the actual transfer. Here’s what your lawyer does for you:
- Confirms all conditions of the deal are met.
- Makes sure the buyer’s money (from their mortgage or their bank) has arrived.
- Coordinates with the buyer’s lawyer to exchange funds and register the new ownership with the Land Registry Office.
- Pays off your mortgage (if applicable).
- Transfers the remaining money to you.
- Notifies your Realtor® that the deal is officially closed so they can release the keys.
When Does the Seller Get Money after Closing in Ontario?
Most of the time, you get your money the same day — usually in the afternoon once everything has cleared. Your lawyer will deposit the funds directly into your bank account or issue a certified cheque. The timeline can vary slightly if you’re selling on a Friday or before a holiday, so plan accordingly.
Closing Costs When Selling a House in Ontario
Sellers often forget that closing day isn’t free. Here’s a breakdown to help calculate the common seller-side closing costs:
- Real estate commission: Usually 5% total, split between buyer and seller agents. Your lawyer pays this from the sale proceeds.
- Legal fees: Expect to pay $800-$1,500 + HST depending on the lawyer.
- Mortgage discharge fees: If you have a mortgage, there’s a cost to pay it off and discharge it (often $200-$400). Your lawyer handles this too.
- Status certificate (if selling a condo): Usually $100.
There are no land transfer taxes for sellers in Ontario — that one’s on the buyer.
The Importance of a Great Realtor® on Closing Day
Yes, your lawyer handles the legal stuff. But it’s your Realtor® who keeps things smooth. For a smooth closing day, a skilled Realtor® will:
- Make sure the contract was clear from the start so there’s no last-minute confusion.
- Confirm all work (repairs, painting, cleaning) was done on time.
- Double check the buyer got what they paid for.
- Handle any issues that pop up during the final walkthrough.
Deals don’t fall apart on closing day because of paperwork. They fall apart because something was missed. Having a smart agent in your corner who dots every “i”, means your closing will feel boring — and that’s exactly what you want.
Thinking of investing in Niagara real estate? You’re in good hands with the informative posts below:
Why Hiring a Property Management Company is a Game-Changer for Leasing Your Property in Niagara
Bottom Line?
Closing day is the finish line. If everything was done right, it should be just another day on your calendar. Your only job? Be out on time, leave the place clean, and wait for that call from your lawyer saying the money is in. Need help making sure you actually get there? Start with the right Realtor®.
Our Niagara real estate agents are happy to support you throughout your home-selling journey. Reach out at 905-357-8067 or email admin@thebarryteam.ca to learn how we can help you get the results you need.
Planning your next home purchase or sale?
Book a consultation with our team to get the process started.
