Closing on a Toronto Home: What Happens Before, During and After the Day

The short answer

Closing day in Ontario is when ownership moves from the seller to you. CMHC sets out the day in three parts: your lender provides the mortgage money to your lawyer, you provide the rest of the purchase price and the closing costs, then your lawyer pays the seller, registers the home in your name and hands over the deed and keys.

A Toronto closing follows the same steps with one difference that changes the cheque you write. The City of Toronto levies its own municipal land transfer tax (MLTT) on top of the provincial tax. Both are due when the transfer is registered, which happens on closing day. Your lawyer has to hold enough of your money to pay both before the deal can close.

This post walks through a Toronto closing in order. It explains how the process generally works and is not legal advice, so your own lawyer’s instructions come first.

The weeks before: what your lawyer needs from you

Most of what decides whether a closing goes smoothly happens well before the day.

1. Sign the documents. Your lawyer prepares the transfer and your mortgage documents and will ask you to sign them before closing.
2. Send the closing funds. That is the balance of the price after your deposit and mortgage, plus both land transfer taxes and your legal fees and adjustments. Ask your lawyer for the exact figure, the payment method and the deadline.
3. Arrange home insurance. CMHC says property insurance must be in place on the day you close. The Financial Consumer Agency of Canada notes that a mortgaged home’s policy will usually include a loss payee clause naming the lender.
4. Book your move and utilities. Leave room in the plan for the keys to arrive later in the day than you would like.
5. Do the pre-closing visit if your agreement allows one. More on that below.

Two land transfer taxes, both due on registration

Ontario’s land transfer tax guide says the provincial tax is payable when the transfer is registered. The City of Toronto says payment for the MLTT is due upon registration of your property. In practice that means your lawyer collects both from you before closing and pays both as part of registering the transfer.

Here is what that looks like at two August 2026 median prices reported by TRREB for the City of Toronto. The tax figures are our own calculations from the published rate tables.

	Condo apartment, $550,000	Detached house, $1,170,000
Ontario land transfer tax	$7,475	$19,875
Toronto municipal land transfer tax	$7,475	$19,875
Total due on registration	$14,950	$39,750
Total for an eligible first-time buyer	$6,475	$31,275

The first-time buyer line applies the maximum Ontario refund of $4,000 and the maximum Toronto rebate of $4,475. Both programs require that the buyer has never owned a home anywhere in the world, is a Canadian citizen or permanent resident and moves in as a principal residence within nine months.

Two details are easy to miss:

• Claiming at registration. Ontario’s refund can be claimed through the electronic land transfer tax statements when your lawyer registers. The City’s rebate can be claimed at registration or applied for within 18 months after the transfer, with a refund processing fee of $221.22.
• The administration fee. The City charges an MLTT administration fee of $102.56 plus HST for processing each transaction. Ask your lawyer how it appears on your statement.

The MLTT rate table has additional tiers above $3,000,000 for homes with one or two single family residences, which took effect on April 1, 2026. Our Toronto land transfer tax calculator applies the current tables to any price.

The day itself, step by step

Step	Who handles it	What it means for you
Mortgage funds advanced	Your lender, to your lawyer	The borrowed part of the price is ready
Your funds in trust	You, to your lawyer, before closing	The rest of the price and both land transfer taxes are covered
Seller paid	Your lawyer	The seller receives the purchase price
Transfer registered electronically	Your lawyer	The home is recorded in your name
Ontario tax and Toronto MLTT paid	Your lawyer, at registration	Paid from the funds you sent
Keys released	Through the lawyers, then to you	You can move in

Ontario’s land registry is electronic. Only authorized users can register documents and ServiceOntario reviews and certifies each registration and updates the title. You do not attend a registry office. Once registration is done and the money has moved, your lawyer will tell you how and when to collect the keys.

The pre-closing visit

If your agreement of purchase and sale allows a visit before closing, RECO’s guidance on pre-closing visits suggests using it to check that:

• the home is in the same condition as when you last saw it
• the appliances and major systems work properly
• no fixtures or items included in the agreement have been removed
• any repairs the seller agreed to have been completed

RECO reminds buyers that the property still belongs to the seller until closing. Visits are usually limited to the buyer and their agent. Anyone else, such as a contractor or inspector, needs the seller’s permission. Work on the home has to wait until the transaction has closed. If something is wrong, tell your agent and lawyer before closing day.

The statement of adjustments

Before closing, your lawyer will send a statement of adjustments showing the price, your deposit and the amounts split between you and the seller. CMHC describes these adjustments as reimbursing the seller for amounts already paid, such as property taxes or filling an oil tank. CMHC also lists legal fees, title insurance and property insurance among the costs to budget for.

Our post on Toronto property tax explains the rate and due dates. For the full list of one-time costs, read closing costs when buying a home in Toronto.

After you get the keys: City of Toronto steps

Toronto has a few follow-ups of its own, all set out on the City’s buying, selling or moving page.

• Ownership on the tax roll. The City updates ownership from a lawyer’s letter giving the previous and new owners’ names, the new owner’s mailing address, the property address, the assessment roll number and the closing date. The City lists an ownership change fee.
• Tax and utility certificate. The City suggests consulting your lawyer about a tax and utility certificate, which shows the current status of the property tax and utility accounts and upcoming due dates.
• Final meter reading. The City asks sellers to request a final meter read and to give the closing date when they do.
• New homes. For a newly built home, the City says new owners can only pay their tax account once a final tax bill is issued, after MPAC’s assessment is received and occupancy has occurred.
• Vacant Home Tax declaration. Every Toronto residential owner must declare the property’s occupancy status each year. If no declaration is received by the April 30 deadline, the City assumes the property was vacant and sends a Vacant Home Tax bill. Put it in your calendar for your first spring as an owner.

Your Toronto closing checklist

1. Confirm the closing date and ask your lawyer for the funds figure, method and deadline.
2. Check the figure includes both the Ontario land transfer tax and the Toronto MLTT.
3. Confirm your lawyer will claim the first-time buyer refund and rebate at registration if you qualify.
4. Put home insurance in place for the closing date and send proof to your lawyer or lender.
5. Do the pre-closing visit if your agreement allows it and report problems straight away.
6. After closing, confirm the City has your ownership and mailing details and note the April 30 occupancy declaration.

Our first time home buyer guide for Toronto covers the steps that come before closing and our buyers page explains how we work with buyers. If you want help planning the timing of a Toronto purchase, contact us.