What Happens After You Accept an Offer in Ontario?

Accepting an offer in Ontario starts a defined sequence: the condition period, waiver or fulfilment of those conditions, the deposit due date, lawyer review and title search, closing adjustments, and finally key handover on closing day. Each stage has its own timeline, and a real estate lawyer should be engaged early to confirm the specifics for a given transaction.

The Condition Period

If the accepted offer included conditions — such as financing or a home inspection — the buyer has an agreed window of time to satisfy or waive them. Nothing about the sale is final until this period closes.

Waiver or Fulfilment

Once conditions are satisfied, the buyer formally waives them in writing, at which point the agreement becomes firm and binding on both parties.

The Deposit Due Date

A deposit is typically due either upon acceptance or shortly after conditions are waived, depending on what the agreement specifies. It is held in trust and credited toward the purchase price at closing.

Lawyer Review and Title Search

Both the buyer’s and seller’s lawyers review the agreement, and the buyer’s lawyer conducts a title search to confirm the property can be transferred free of unexpected claims or encumbrances.

Closing Adjustments

Costs such as prepaid property tax or utility credits are prorated between buyer and seller as of the adjustment date, typically the closing date itself.

Key Handover

On closing day, once funds and documents have been exchanged between the lawyers, keys are released — usually through the listing brokerage.

Quick Answers

How long does the condition period typically last?

It varies by agreement and is negotiated as part of the offer. There is no single standard length.

What happens if a condition is not satisfied?

If a condition is not satisfied or waived within the agreed period, the agreement can become null and void, depending on its specific terms. A real estate lawyer should be consulted on the specifics.

When exactly is my deposit due?

This is specified in the accepted agreement itself and varies by transaction. Confirm the exact date with your real estate professional or lawyer.

Do I need a lawyer for a real estate closing in Ontario?

Yes, a real estate lawyer handles the legal transfer of title and is a standard part of every closing in Ontario.

What are closing adjustments exactly?

Prorated costs — such as property tax already paid for a period extending past the closing date — divided fairly between buyer and seller as of the adjustment date.

When do I get the keys to my new home?

Typically on closing day itself, once your lawyer confirms funds and documents have been exchanged.

Want the numbers that apply to your specific home or move? Get a free, no-obligation home value estimate at pambechard.com. Pam Bechard, Listing Strategist with Royal LePage RCR Realty, will follow up directly with the comparable sales behind your number.

About Pam Bechard

Pam Bechard is a Listing Strategist with Royal LePage RCR Realty, serving York Region and South Simcoe. With nearly 15 years of experience, her practice is built on verified local data, transparent process, and strategic guidance, not sales pressure. She works with sellers, buyers, downsizers, and relocators across Newmarket, Aurora, Bradford, East Gwillimbury, Innisfil, and surrounding communities.

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