You did it! After weeks of preparing, showing your home, and negotiating, you have finally accepted an offer. It is a huge relief, but accepting an offer is just the beginning of the final phase of your real estate journey. The period between accepting the offer and the official "Closing Day" is usually 30 to 60 days, and a lot happens behind the scenes during this time.

If you are wondering what comes next, here is a step-by-step breakdown of the closing process.

1. Navigating the Conditional Period

Most offers are not legally binding the second you sign them; they usually come with conditions (often called contingencies). The most common conditions are for the buyer to secure financing and complete a satisfactory home inspection. This conditional period typically lasts anywhere from 3 to 7 days. During this time, your home is technically still on the market, but its status is marked as "conditionally sold." Once the buyer is satisfied and removes these conditions, the deal becomes "firm." Now you can officially celebrate!

2. Hiring a Real Estate Lawyer

While I handle the negotiations and the contract, a real estate lawyer (or notary, depending on your province) handles the legal transfer of the property. You will need to hire a lawyer shortly after your deal goes firm. They will handle the heavy lifting, including reviewing the agreement, verifying that you have a clear title, calculating the final closing costs, and arranging the discharge of your current mortgage. You will usually meet with your lawyer a few days before closing to sign the final paperwork.

3. Preparing for Move-Out

Once the deal is firm, it is time to start packing. As you prepare to move, you will need to contact your utility providers (hydro, water, gas, internet) to transfer or cancel your services effective on your closing date. You will also need to submit a change of address to the post office. Remember, your contract likely states that the home must be left in "broom-swept condition." This means all of your personal belongings and garbage must be removed, and the house should be reasonably clean for the new owners.

4. The Buyer’s Final Walkthrough

A day or two before closing, the buyer will usually do a final walkthrough of the property. This isn't another inspection; it is simply a chance for the buyer to verify that the home is in the same condition it was when they made the offer, and to ensure that any agreed-upon repairs have been completed.

5. Closing Day Arrives!

Closing day is the official day the property changes hands, but you don't actually need to be present at a big closing table. Your lawyer will do the work. The buyer's lawyer will transfer the funds to your lawyer. Once your lawyer receives the money, they will pay off your existing mortgage, pay the real estate commissions, cover any legal fees, and then register the deed in the buyer's name.

Once the registry is complete, the keys are released to the buyer. And the best part? Your lawyer will either hand you a certified cheque or wire the remaining profit directly into your bank account.

The closing process involves a lot of moving parts, but you won't be navigating it alone. I will be coordinating with your lawyer, the buyer's agent, and you every step of the way to ensure a smooth, stress-free transition to your next adventure.