What Happens After Your Offer Is Accepted in Ontario?
What Happens After Your Offer Is Accepted in Ontario?
The moment your offer gets accepted feels like the finish line. It's not — it's the start of a new phase that most people know very little about. Between a signed offer and getting your keys, there are deadlines to meet, people to coordinate, and decisions to make. Here's exactly what happens, in order, so nothing catches you off guard.
Why the Period Between Offer and Closing Feels Uncertain
Most of the anxiety buyers and sellers feel after an accepted offer comes from not knowing what's supposed to happen next. The process has a clear structure — each step follows from the last, and there are firm deadlines along the way. Understanding that structure doesn't just reduce stress. It means you're in a position to act quickly when something needs attention rather than waiting to hear what to do next.
In Ontario, the closing period typically runs 30 to 90 days from the offer date, though it can be shorter or longer depending on what both parties agreed to. A lot happens in that window. Here's the full picture.
Important to know upfront: Once both parties have signed and all conditions have been waived or fulfilled, the deal is firm. Walking away from a firm deal in Ontario has serious legal and financial consequences for the party who backs out. Understanding each step — and what your obligations are at each point — protects you from making an expensive mistake.
The Full Timeline — Step by Step
Every Ontario real estate transaction follows the same basic sequence. The timing of each step is set by the conditions in your Agreement of Purchase and Sale.
Deposit is delivered
Once your offer is accepted, the buyer's deposit — typically $10,000–$25,000 on a London Ontario purchase, depending on the price — must be delivered to the seller's brokerage within the timeframe specified in the offer. This is usually 24 hours. The deposit is held in trust and applied to your down payment at closing. It does not go to the seller directly. Missing the deposit deadline is a serious problem — don't let it slip.
Home inspection (if a condition was included)
If your offer included a home inspection condition — which it should in most cases — you'll book a licensed home inspector within the condition period, typically 3–5 business days. The inspector walks through the property and produces a report covering the structure, roof, mechanical systems, electrical, plumbing, and anything else worth flagging. Your agent attends with you. Based on the findings, you can proceed as-is, request repairs or a price adjustment, or in rare cases, walk away within the condition period.
Financing is confirmed
If your offer included a financing condition, your lender needs to formally approve the specific property and your mortgage within the condition period — usually 5–7 business days. This is different from your pre-approval. The lender is approving the property itself, not just you as a borrower. They'll order an appraisal if needed. Your mortgage broker or bank will tell you exactly what documents they need — provide them immediately to avoid delays. See our mortgage overview for more on what lenders look for.
Conditions are waived — the deal goes firm
Once your home inspection and financing conditions are satisfied, your agent delivers a waiver to the seller's agent. From this point, the deal is firm. Both parties are legally bound to complete the transaction on the closing date. This is not a formality — it's the point of no return. Make sure you're genuinely comfortable before your agent submits the waiver.
You retain a real estate lawyer
You need a real estate lawyer to handle the title transfer and closing in Ontario. If you don't already have one, now is the time to find one. Your lawyer will receive the Agreement of Purchase and Sale from your agent, conduct a title search, review the title insurance policy, and prepare the closing documents. They'll also handle the final financial adjustments — property tax proration, any outstanding utility bills, and so on. Budget $1,500–$2,500 for legal fees and disbursements.
Arrange home insurance
Your lender will require proof of home insurance before they release funds on closing day. Contact your insurer as soon as the deal goes firm — don't leave this until the last week. You'll need a binder letter or confirmation of coverage in place before your lawyer can complete the closing. Annual premiums in London Ontario typically run $1,200–$2,400 depending on the home, so shop around.
Final walkthrough
You're entitled to a final walkthrough of the property before closing — typically within 24 hours of the closing date. This is your opportunity to confirm the home is in the same condition as when you made the offer, that all agreed-upon inclusions are present, and that nothing has been damaged or removed. If something is wrong, your agent and lawyer need to know immediately so it can be addressed before funds are released.
Sign closing documents and transfer funds
Your lawyer will have you come in — usually a day or two before the closing date — to sign all the closing documents. At this appointment, you'll also provide any remaining funds needed to close: your down payment minus the deposit already paid, plus closing costs. These funds must be a certified cheque or bank draft — personal cheques are not accepted. Confirm the exact amount with your lawyer in advance so there are no last-minute surprises.
Title transfers — you get the keys
On closing day, your lawyer registers the title transfer and the mortgage with the Land Registry Office. Once that's done and funds have been received by the seller's lawyer, the seller's agent releases the keys. In Ontario, this typically happens in the afternoon — sometimes as late as 5–6pm depending on how quickly the registry and lawyers complete their work. Plan your moving logistics around this reality. Don't book movers for 8am on closing day.
What Sellers Experience During This Period
Most of the steps above are buyer-focused, but sellers have their own obligations between offer and closing. If you're on the selling side, here's what this period looks like for you.
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Keep the property in the same condition.You're obligated to deliver the home in the condition it was in when the offer was accepted. Don't remove fixtures, damage anything, or make changes that weren't agreed upon. Inclusions listed in the offer — appliances, light fixtures, window coverings — must stay.
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Prepare for the buyer's home inspection.Give the inspector reasonable access to all areas of the home — attic, crawl space, electrical panel, furnace room. Have documentation for any recent work or upgrades available if possible. A cooperative seller makes the inspection go smoothly for everyone.
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Work with your lawyer on discharge of your mortgage.Your lawyer will contact your lender to get a mortgage discharge statement — the exact amount needed to pay off your mortgage at closing. This takes time, so don't wait to get your lawyer involved. Any penalty for breaking your mortgage early will also be calculated at this stage.
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Cancel utilities and update your address.Arrange to have utilities disconnected or transferred as of the closing date. Cancel your home insurance effective the closing date — but not before. Update your address with Canada Post, your bank, and any other institutions.
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Be out by the agreed-upon time on closing day.The closing time is in your contract. Be out of the property and have it in broom-swept condition by that time. Leaving items behind — furniture, debris, personal belongings — that weren't agreed upon is a breach of the contract and can cause real problems on closing day.
What Can Go Wrong — and How to Handle It
Most Ontario real estate transactions close without significant issues. But things do come up, and knowing how they're typically handled keeps you from panicking when they do.
The most common issue is something unexpected in the home inspection — a roof that's older than the listing suggested, a furnace near the end of its life, evidence of past water damage. In a buyer's market, buyers often use inspection findings to negotiate a credit or a repair before waiving conditions. This is normal. Your agent handles that negotiation.
Financing complications can also arise — an appraisal that comes in below the purchase price, a change in employment status, or a lender requiring additional documentation. If your financing falls through during the condition period, you can walk away without penalty. If it falls through after conditions are waived, the situation is much more complicated — which is why confirming your financing fully before waiving that condition is so important.
Title issues — encroachments, liens, or discrepancies — are rare but do occur. This is exactly what title insurance covers and why your lawyer's title search matters. Most title issues are resolved before closing without any impact on the transaction.
What Happens Between Offer Acceptance and Closing Day in Ontario?
Here's the direct answer for anyone looking for a clear summary: after your offer is accepted in Ontario, you deliver your deposit, complete your conditions (home inspection and financing), waive those conditions to firm up the deal, retain a lawyer, arrange home insurance, do a final walkthrough, sign closing documents, and receive the keys once title registers on closing day. The whole process takes the number of days agreed to in your offer — typically 30 to 90 days.
Every step in that sequence has a deadline and a responsible party. Your agent tracks the deadlines. Your lawyer handles the legal and financial mechanics. Your job is to respond quickly when either of them needs something from you — documents, decisions, certified funds. The buyers and sellers who have the smoothest closings are the ones who stay engaged and don't let things sit.
If you want to understand this process in the context of a London Ontario purchase specifically, see how buying works with Cassidy & Co. or reach out to talk through any part of it with Eric directly.
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Eric handles the deal. Gabrielle manages every detail between accepted offer and closing day. You stay informed at every step without having to chase anyone for updates. That's the process — and it works.
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