What to Expect in the Closing Process: A Step-by-Step Guide

Lisa Manwaring • May 13, 2026

You’ve found the right home, your offer’s been accepted, and your financing is approved—congratulations! But before you can pick up the keys and celebrate, there’s one more important stage: the closing process.


Closing is the final step in your homebuying journey, where all the paperwork, legal details, and financial transactions come together. It can feel overwhelming if you don’t know what to expect, but with the right preparation, closing can be smooth and stress-free.


Here’s a step-by-step guide to help you understand the process.


Step 1: Hire a Lawyer or Notary

A real estate lawyer (or notary, depending on your province) handles the legal side of closing. They will:

  • Review the purchase agreement and mortgage documents
  • Conduct a title search to confirm the seller has the legal right to sell the property
  • Ensure the mortgage lender is properly registered on the title
  • Handle the transfer of funds between you, the lender, and the seller


Your lawyer or notary will be your main point of contact during closing, so choose one you trust and who communicates clearly.


Step 2: Finalize Your Mortgage

Your lender will send the mortgage instructions directly to your lawyer or notary. At this stage:

  • You’ll provide proof of property insurance (lenders require this before releasing funds)
  • You’ll confirm your down payment and closing costs are available in your lawyer’s trust account
  • The lawyer will prepare all documents for your review and signature


Step 3: Pay Closing Costs

Closing costs typically range from 1.5% to 4% of the purchase price. These can include:

  • Legal fees
  • Title insurance
  • Land transfer tax (where applicable)
  • Adjustments for property taxes or utilities prepaid by the seller
  • Home inspection or appraisal fees (if not already paid)

Your lawyer will provide a final statement of adjustments so you know exactly how much is due on closing day.


Step 4: Sign the Paperwork

A few days before closing, you’ll meet with your lawyer or notary to sign all the necessary documents, including:

  • Mortgage agreement
  • Title transfer
  • Insurance confirmations
  • Statement of adjustments

Bring valid government-issued ID to this appointment.


Step 5: Transfer of Funds

On the day of closing:

  • Your lender sends the mortgage funds to your lawyer
  • Your lawyer combines these funds with your down payment and pays the seller
  • Legal ownership of the property is transferred into your name
  • The lender is registered on title as a secured creditor


Step 6: Get the Keys!

Once the paperwork is filed and the funds have cleared, your lawyer will confirm that the transaction is complete. You’ll then get the keys to your new home—officially making it yours.


The Bottom Line

The closing process is a series of important steps, but with the right team in place, it doesn’t have to be stressful. By working closely with your mortgage professional and lawyer, you’ll have guidance every step of the way—from signing the documents to turning the key in the front door.


If you’d like help preparing for the closing process—or want a clear breakdown of your own closing costs—connect with us today.


LISA MANWARING

MORTGAGE EXPERT

LET'S TALK

RECENT POSTS

How to Finance Renovations When Buying a Home in Canada

By Lisa Manwaring • November 4, 2026
Can’t Find the Right Home After You’re Pre-Approved? There’s Another Option The best place to start any home purchase is with a mortgage pre-approval. It gives you clarity around your budget and lets you shop with confidence. But what happens when you’ve been pre-approved, you know where you want to live—and nothing suitable fits your price range? This is a common challenge, especially for first-time homebuyers. Before buyer fatigue sets in, it may be worth considering a different approach: buying a home that needs work and financing the renovations as part of your mortgage . What Is a Purchase Plus Improvements Mortgage? A purchase plus improvements program allows you to buy a property and include the cost of approved renovations directly in your mortgage. This can be a great solution if: You can’t find a move-in-ready home within budget You’re open to renovations You want to customize the home from the start It opens up more options and can help you get into a location or property that would otherwise be out of reach. How the Process Works While the idea is straightforward, the process itself is structured and requires planning. Here’s a high-level overview: Renovation quotes are required upfront You’ll need detailed quotes for the work you want completed before final mortgage approval. Renovations must add value The lender must be satisfied that the improvements will increase the property’s value accordingly. Funds are reimbursed, not advanced You pay for the renovations initially. Once the work is completed and verified by an appraiser, the lender reimburses you and adds the cost to your mortgage. With the right guidance, this process is very manageable—but it’s important to understand the steps before committing. Is This Program Right for You? Purchase plus improvements isn’t for everyone. Buying a home is already a big undertaking, and adding renovations can increase stress—especially if timelines, budgets, or contractors become challenging. That said, if you’re financially prepared and like the idea of shaping the home to fit your needs, this program can be an excellent way to get more value and flexibility from your purchase. Final Thoughts If you’re struggling to find the right home after being pre-approved, you may not need to lower your expectations—you may just need a different strategy. If you’d like to explore whether a purchase plus improvements mortgage makes sense for you, feel free to connect. I’d be happy to walk you through the process and outline exactly what this option would look like in your situation.

Bank of Canada Raises Rate to 2.5% — October 28, 2026

By Lisa Manwaring • October 28, 2026
On October 28, 2026, the Bank of Canada raised its key interest rate by 0.25%, bringing it to 2.5%. If you have a mortgage, are shopping for a home, or have a renewal coming up, this decision matters. Here is a plain-language look at what changed, why it happened, and what it could mean for you.