How do I prepare for closing day?
“How do I prepare for closing day?” — The 10-step playbook every Georgetown seller must follow to avoid last-minute chaos and walk away with the full sale proceeds.
Why closing day in Georgetown matters
Closing day is not a handshake. It’s the legal handoff of your asset. In Georgetown, ON, where market demand, local bylaws, and Halton-region practices shape every transaction, a single missed doc or wrong meter reading can delay your payout — and cost you money.
This post gives a straight, no-fluff 10-step checklist you can follow. Use it as your seller closing day blueprint. Skip it at your own risk.
Quick overview: The core steps
- Pick and confirm the closing date.
- Hire a licensed Ontario real estate lawyer.
- Get your mortgage discharge and payout details.
- Prepare the statement of adjustments and closing funds.
- Handle utilities, condo fees, and municipal accounts.
- Do a final walk-through and confirm repairs.
- Gather keys, manuals, warranties, and receipts.
- Provide clear possession instructions.
- Deliver closing funds and complete lawyer signings.
- Confirm registration and transfer of title.
The Georgetown specifics you need to know
- Municipal office: Town of Halton Hills handles property tax adjustments and utility final billings for Georgetown properties.
- Timing quirks: Many Halton Hills buyers choose end-of-month closings to simplify tax and utility proration; expect negotiation pressure around these dates.
- No municipal land transfer tax in Halton — only Ontario’s provincial land transfer tax applies (usually paid by the buyer). That simplifies seller calculations compared to Toronto listings.
- Condo sellers in Georgetown: ensure condo status certificates and outstanding common area assessments are cleared. Halton condos often include special levies; buyers expect transparency.
- Water and water billing: final meter readings and water bill adjustments are handled through the Town of Halton Hills. Schedule readings early.
10-step seller playbook — exact actions, timeline and who does it
Step 1 — 30+ days out: Lock the date and hire a lawyer
- Confirm the closing date in writing in the Agreement of Purchase and Sale.
- Hire a licensed Ontario real estate lawyer experienced in Halton/Georgetown transactions. They will handle title search, discharge of mortgage, and registration.
- Give your lawyer the Agreement, MLS number, and contact info for the buyer’s lawyer.
Step 2 — 21–30 days: Get mortgage payoff and legal instructions
- Request a written mortgage payoff statement from your lender with the exact date of payoff and any discharge fees.
- Authorize your lawyer to obtain the mortgage statement and to register the discharge on closing.
- Confirm if any prepayment penalties apply.
Step 3 — 14–21 days: Prepare documents and receipts
- Gather property documents: warranties, manuals, receipts for recent repairs, Building Permit copies (if available), and home inspection reports.
- If selling a condo, assemble the status certificate, declaration, and bylaws.
- If you made renovations that required permits, have those permits and completion letters handy. Buyers in Georgetown often ask for proof when closing on older homes.
Step 4 — 10–14 days: Statement of adjustments and closing funds
- Your lawyer prepares the Statement of Adjustments. This accounts for property taxes, utilities, condo fees, and any prepaid items.
- Review the statement carefully. Pay attention to tax arrears, water charges, and any outstanding municipal fees — these will be deducted from your sale proceeds if unpaid.
- Confirm the amount the buyer’s lawyer will wire and the net amount you’ll receive.
Step 5 — 7–10 days: Utilities, services, and keys
- Book final meter readings (hydro, gas, water). For Georgetown properties, the Town of Halton Hills arranges final water reads; contact them early.
- Arrange final meter reads with hydro/gas providers and confirm account transfers or final balances.
- Make a list of all keys, garage remotes, alarm codes, and manual instructions to leave.
Step 6 — 3–7 days: Movers and possessions
- Confirm moving date and moving company.
- Remove all personal property not included in the sale.
- Leave fixtures, built-in appliances, light fixtures and anything listed in the contract.
- If you agreed to a late possession, confirm storage and access instructions in writing.
Step 7 — 1–2 days: Final walk-through and repairs check
- Buyers usually do a final walkthrough within 24–48 hours. Be available or have your agent present.
- Confirm agreed repairs are completed and documented.
- If something is incomplete, negotiate a holdback or delay closing until fixed.
Step 8 — Day before closing: Deliver closing funds and sign
- Your lawyer will request payment for any adjustments, legal fees, and mortgage discharge costs. Arrange funds as your lawyer instructs — certified cheque or bank transfer is common.
- Sign any remaining documents at your lawyer’s office. Identify requirements: two pieces of ID and the property deed (if requested).
Step 9 — Closing Day: What actually happens
- Your lawyer registers the deed transfer and mortgage discharge with the Ontario land registry.
- The buyer’s funds are transferred to your lawyer. Your mortgage balance is paid off. Any secured liens are discharged.
- Keys are released to the buyer per the possession clause.
- You receive your net proceeds via wire or certified cheque.
Step 10 — After closing: follow-up tasks
- Cancel or change your home insurance effective on closing/post possession date.
- Keep copies of the Statement of Adjustments, discharge letter, and any closing documents for tax reporting.
- Forward your mail and update address with banks and municipal offices.
Common closing pitfalls to avoid in Georgetown
- Missing final meter reads — delays final bills and adjustments.
- Unpaid municipal charges or unfinished permits — these become liens and delay registration.
- Not hiring a local lawyer — out-of-area lawyers unfamiliar with Halton practices are slower on municipal items.
- Leaving personal items that were part of the sale contract — buyers can delay possession or seek compensation.
Negotiation tips for sellers
- If buyers ask for a late possession, demand written terms: a daily rent, liability coverage, and a cut-off date.
- If repairs are expensive, offer a firm credit on closing instead of delaying the sale. Buyers prefer cash at closing.
- Use the Statement of Adjustments as a negotiating tool: small credits are easier to agree than redoing work.
Deliverables checklist (print and give to your lawyer)
- Signed Agreement of Purchase and Sale
- Mortgage statement and discharge instructions
- Receipts for repairs and permits
- Keys, remotes, and manuals list
- Identification for lawyer signings
- Condo status certificate (if applicable)
Local contacts that matter
- Town of Halton Hills – property tax and water billing
- Regional utilities – Horizon Utilities (or local provider), Enbridge for gas; confirm local utility accounts in Georgetown.
- Licensed Halton real estate lawyers — choose someone who handles registrations at the Ontario Land Registry and knows Halton municipal processes.
Closing day language you should memorize
- Statement of Adjustments: who pays what, prorated to closing date.
- Discharge of Mortgage: payoff and removal of lender claim.
- Transfer/Deed Registration: legal transfer of ownership.
- Possession Date: when the buyer gets keys and legal access.
Final short checklist for the morning of closing
- Confirm with your lawyer that funds have been received and mortgage paid.
- Leave keys and remotes labeled.
- Ensure the property is clean and vacant as per the contract.
- Keep a copy of the photo ID used for signings.
Call to action
Selling in Georgetown? Don’t guess. Use a local Realtor who knows the Halton process and a lawyer who registers fast on closing day. For direct help, contact Tony Sousa — local expertise, clear timelines, and a closing plan tailored to Georgetown sellers.
Contact: tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca
FAQ — Closing day questions Georgetown home sellers ask most
Q: How long does closing day take?
A: The registration process itself is often completed within a few hours once funds clear. The whole process depends on lawyers handling transfers and mortgage discharges. Expect confirmation within 1 business day for standard closings.
Q: Who pays unpaid municipal taxes and utility bills?
A: Sellers are responsible to the closing date. The Statement of Adjustments prorates taxes and utilities so the buyer pays from closing forward. Unpaid historical charges can become liens if not resolved.
Q: Do I need a real estate lawyer in Georgetown?
A: Yes. Ontario law requires conveyancing by a qualified professional. Local lawyers ensure quick municipal interactions and avoid registry snags.
Q: What if the buyer doesn’t have funds on closing day?
A: That’s a breach. Your lawyer will hold registration until funds clear, or you can agree to an extension with penalties. Protect yourself with clear written terms in the agreement.
Q: Can I stay in the house after closing?
A: Only if the Agreement permits a post-closing possession. Demand written terms, indemnity, and insurance coverage. Never assume you can stay without documented agreement.
Q: Are there extra costs I should expect on closing?
A: Expect legal fees, disbursements, mortgage discharge costs, and any final utility or tax adjustments. Your lawyer will estimate these before closing.
Q: How do condo closings differ in Georgetown?
A: Condo sales require a status certificate, disclosure of special assessments, and condo fee adjustments. Make sure your condo board has no pending levies before closing.
Q: What paperwork do I need to keep after closing?
A: Keep the Statement of Adjustments, mortgage discharge, transfer documents, and copies of any permits or warranties for tax and future proof-of-proof.
If you want a personalized closing checklist for your Georgetown property or need a recommended Halton lawyer, email tony@sousasells.ca or call 416-477-2620. Get it done right, on time, and without surprises.
