A pre-approval is not a guarantee. Your lender must now approve this specific property and complete their final underwriting. Submit updated pay stubs, bank statements, T4s/NOAs, and any other documents your mortgage broker requests promptly. Aim to receive your mortgage commitment letter at least 2 weeks before closing. If anything changes (job change, new debt, lower property appraisal), contact your broker and lawyer immediately — closing delays are costly.

Your lawyer handles the title search, reviews documents, registers the transfer, and receives your mortgage funds. Legal fees typically run $1,500–$2,500 all-in. About a week before closing, your lawyer will provide the final closing statement — the exact amount you need to wire to their trust account, covering the balance of purchase price (minus deposit and mortgage), land transfer tax, legal disbursements, and adjustments for prepaid utilities or property tax.

Most Ontario lawyers strongly recommend Owner’s Title Insurance — a one-time premium of $300–$500 that protects you for as long as you own the property. It covers undisclosed liens, title fraud, encroachment issues, and unpermitted renovations. Your lender will also require a Lender’s Policy — but that only protects the bank. The Owner’s Policy protects you. Both together cost a few hundred dollars. It’s one of the best-value purchases in a real estate transaction.

Your mortgage lender requires proof of home insurance before funding the mortgage. Contact an insurance broker at least 1–2 weeks before closing and have your Certificate of Insurance ready for your lawyer. Without it, the deal cannot close. Annual premiums for a detached house typically range $1,500–$3,000; condos run $400–$900 per year. Shop around — rates vary significantly between providers.

A few days before closing, contact utility providers to transfer accounts effective on closing day: electricity (Hydro One or Toronto Hydro), natural gas (Enbridge), water (usually handled by your lawyer). For condos, some utilities are included in maintenance fees — confirm with the property management office. Don’t wait until after move-in to realize you’re sitting in the dark.

Standard Ontario APS gives buyers the right to a pre-closing inspection (typically within 24–48 hours of completion). This is not a full home inspection — it’s a final check to confirm all inclusions are present, the home is in the same condition as when you purchased it, and the sellers have vacated. If you spot problems, contact your agent immediately so your lawyer can address them before funds are released.

Arthur’s Suggested Timeline

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