How long does closing take in Ontario?
Want to close in Ontario fast? Read this and know the exact timeline.
Quick answer
Most Ontario real estate closings take 30 to 60 days when financing is involved. Cash deals can close in as little as 7 to 14 days. Complex chains, title issues or lawyer delays can stretch closing to 90+ days.
Why closing time varies
Closing time depends on four clear factors: financing, legal work, the buyer/seller conditions, and transaction complexity. If a buyer needs a mortgage, banks require time to finalize approval and prepare funds. Lawyers need time for searches, adjustments, and registration. Each step adds business days.
Typical closing timeline (step-by-step)
- Offer accepted: 0 days. Agreement sets a closing date.
- Conditions period: 3–10 days (inspection, financing). Many standard offers set 5 days.
- Financing mortgage approval and commitment: 7–30 days depending on lender and appraisal timeline.
- Lawyer/conveyancer work: 5–15 business days for title searches, mortgage documents, and closing statements.
- Final day (closing day): funds transfer, registration, keys exchanged.
Result: Most financed transactions hit closing in 30–60 days. Cash buyers and presale assignments can be faster if lawyers and funds are ready.
Fastest vs slowest scenarios
- Fastest: Cash purchase with lawyers ready — 7–14 days.
- Typical: Mortgage purchase with no chain — 30–45 days.
- Slowest: Multi-property chain, title disputes, complex commercial deals — 60–120+ days.
What happens on closing day
Lawyers finalize adjustments for property taxes, utilities and condo fees. Mortgage funds are wired or delivered as certified funds. Title is electronically registered with the land registry. Once registration and funds clear, keys transfer and possession begins.
How to speed up closing (practical checklist)
- Lock in mortgage pre-approval before making an offer.
- Hire your lawyer immediately after offer acceptance.
- Provide ID and documents fast: proof of funds, insurance, signed forms.
- Order a home inspection early during the conditions period.
- Clear up any title or condo document issues quickly.
- Use direct bank wires and confirm times with lawyers and mortgage brokers.
Common delays to expect
- Appraisal scheduling: 5–10 business days.
- Title or survey issues: can add weeks.
- Chain sales: everyone’s timing affects you.
- Late document signing by either party.
Final word
Closing in Ontario is predictable if you control the controllables: financing, lawyer readiness, documents and communication. Expect 30–60 days for most financed residential sales. Know the exceptions: cash buys and chains.
If you want a precise timeline for your property, get direct advice from a local realtor and a licensed conveyancer. I handle timelines, coordinate lawyers, and make closings painless.
Contact Tony Sousa — tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca
