Closing day is one of the most critical moments in any real estate transaction. After weeks or even months of negotiation, preparation, and paperwork, everything culminates in this single day. A successful closing depends on thorough preparation by all parties involved: the buyer, the seller, and their legal representatives.
At Cactus Law, we understand how overwhelming the process can feel. That’s why we’ve created this comprehensive closing checklist to help you avoid common mistakes, stay organized, and ensure a smooth transfer of property ownership.
Pre-Closing Checklist
For Buyers
- Review and Sign the Agreement of Purchase and Sale (APS):
Go over the APS carefully with your lawyer to confirm details such as price, closing date, conditions (financing, inspection), and included items. - Secure Mortgage Financing:
Complete the lender application, lock in your interest rate, shop for title insurance, and ensure the mortgage binder is sent to your lawyer. - Arrange a Home Inspection:
Schedule the inspection and review the report. If issues arise, negotiate repairs or holdbacks before closing. - Hire a Real Estate Lawyer:
Provide your lawyer with the APS, deposit receipt, inspection report, and any legal documents to begin the due diligence process. - Title and Off‑Title Searches:
Your lawyer will examine the property’s title for any liens, encumbrances, zoning violations, flood risks, or other concerns. - Arrange Title Insurance:
Ensure that appropriate title insurance coverage is in place for both you and your lender. - Review Statement of Adjustments:
Your lawyer will calculate and review adjustments such as taxes, utilities, and condo fees shared between buyer and seller. - Make Personal Arrangements:
Set up home insurance effective on the closing day, hire movers, and arrange utility transfers to your new address. - Prepare for Signing Appointment:
Bring necessary documents, including your mortgage binder letter, void cheque, and valid photo ID. Signing typically occurs 2–3 days before closing.
For Sellers
- Review APS Details:
Double-check the agreement to ensure all timelines, included items, and any negotiated repairs are clearly stated. - Prepare for Final Walkthrough:
Ensure the home is clean, free of personal belongings, and that manuals, keys, remotes, and codes are left in an accessible location. - Notify Service Providers:
Inform your utility, insurance, phone, and internet providers of the sale. Schedule final meter readings and cancel automatic payments. - Provide Mortgage Payoff Information:
Submit your mortgage statement and any discharge penalty details to your lawyer well before closing. - Plan Your Move:
Schedule movers so that the property is vacated—ideally by 5 p.m. on closing day. - Attend Signing Appointment:
Bring valid ID and a void cheque for the deposit of your sale proceeds. Your lawyer will walk you through signing transfer and discharge documents.
Lawyer’s Role – Step by Step
1. Opening & Due Diligence
- Review the APS and ensure all conditions are being met.
- Conduct thorough title and off‑title searches for any risks or concerns.
- Arrange and review title insurance policies.
- Raise requisitions for any title issues or missing documents.
2. Pre‑Closing Preparation
- Coordinate with lenders to receive mortgage instructions and prepare mortgage documentation.
- Calculate total closing costs including land transfer tax, legal fees, title insurance, and adjustments.
- Finalize and reconcile the Statement of Adjustments with the other party’s lawyer.
- Prepare all legal documents for registration.
3. Signing Appointment
- Occurs 1–3 days before closing.
- Buyer and seller sign legal documents (title transfer, mortgage, discharges, etc.).
- Participants must provide photo ID and void cheques.
4. Closing Day
- Confirm all sale conditions are fulfilled.
- Exchange funds and documents with the other party’s lawyer.
- Register the transfer of title and any mortgage via the land registry system.
- Release keys and confirm the transaction is legally complete.
Post-Closing Responsibilities
Buyer
- Ensure home insurance is active.
- Set up accounts for utilities and services.
- Change your address with all relevant agencies and service providers.
- Review your closing documents and retain copies.
- Move in and confirm all keys, remotes, and manuals were provided.
Seller
- Confirm the net sale proceeds have been deposited or received by cheque.
- Cancel insurance and ensure all utilities are closed or transferred.
- Notify service providers of your move.
- Update your address with necessary institutions.
Quick Summary Checklist
Buyer:
- APS reviewed and financing secured
- Home inspection complete
- Title and insurance arranged
- Funds ready for closing
- Signing appointment attended
- Final walkthrough done
Seller:
- Property cleaned and ready
- Mortgage payout info submitted
- Utilities and insurance updated
- Signing appointment completed
- Move-out completed by possession time
Lawyer:
- Title and off-title searches done
- Requisitions sent if needed
- Closing documents prepared
- Statement of Adjustments finalized
- Funds transferred and title registered
- Final reports delivered to clients
At Cactus Law, we guide our clients through every step of the closing process, ensuring nothing is missed. Whether you’re buying or selling, having a detailed plan in place can help avoid costly last-minute surprises. Reach out to our team to learn more about how we can make your next transaction seamless and stress-free.