Understanding the Real Estate Transaction
From accepted offer to keys in hand, here’s what actually happens during a real estate transaction in Ontario.
Conditions period
Most offers include financing and inspection conditions, typically giving 5–10 business days to confirm the deal will go through.
Firming up the deal
Once conditions are waived, the deal is firm and both parties are legally committed.
Closing day
Your lawyer transfers funds and title, and keys are released once registration is confirmed — usually by early afternoon.