The morning of closing
Your lender releases the mortgage funds to your lawyer's trust account, usually in the morning. Your lawyer combines this with your down payment funds, which you would have deposited a day or two earlier.
The final title search
Your lawyer conducts one last title search that morning to confirm nothing has changed since the initial search, protecting you against any last-minute liens or claims registered against the property.
- Final title search confirms nothing has changed
- Funds are transferred electronically between lawyers
- Registration of transfer and mortgage happens same day
Fund transfer and registration
Once everything checks out, your lawyer transfers the purchase funds to the seller's lawyer, and the transfer of ownership along with your new mortgage gets registered electronically on title.
Getting your keys
Once registration is confirmed, the seller's lawyer releases the keys, usually through the real estate agents involved. This can happen anytime during the day depending on how quickly the paperwork moves.
What can cause delays
Delays usually happen because of last-minute document issues, funds not arriving on time, or problems discovered in the final title search. Staying reachable by phone on closing day helps resolve issues quickly if they come up.
Frequently asked questions
- What time of day do I get my keys?
- It varies, but many closings complete and keys are released sometime in the afternoon, though this depends on how quickly registration and fund transfers happen.
- Do I need to be present on closing day?
- Not usually. Most of the signing happens a few days before closing, and the actual closing day transactions are handled by your lawyer.
- What should I do if closing gets delayed?
- Stay in close contact with your lawyer and real estate agent, and have a backup plan for moving logistics in case the timeline shifts.