In London, Ontario, a standard real estate closing typically takes between 30 and 90 days from the moment the Agreement of Purchase and Sale is signed. However, on the actual Closing Day, buyers usually do not receive the physical keys until between 3:00 PM and 5:00 PM, once the lawyer formally registers the deed.
Waiting to move into your new home can feel like an eternity. Whether you are upgrading to a larger family home in Masonville or buying your first condo near Western University, the real estate closing process requires a great deal of patience. Moving day logistics, booking elevators, and arranging time off work all depend on understanding the legal timeline. Knowing exactly how long it takes to close on a house in London will help you orchestrate a smooth transition and avoid the massive stress of a delayed move.
Step-by-Step Timeline in London, Ontario
The closing period is not just empty waiting time; it is a highly active period where mortgage lenders, home inspectors, and local real estate lawyers are working furiously behind the scenes to finalize your transaction.
Step 1: The Conditional Period (Days 1 to 7)
After your real estate agent submits an offer and the seller accepts it, you enter the conditional period. Most buyers include conditions for a home inspection and mortgage financing approval. You typically have 5 to 7 days to hire a London-based home inspector, review their report, and get a firm commitment letter from your bank. Once satisfied, your agent submits a “Notice of Fulfillment,” making the deal legally binding. 🗂
Step 2: Sending Documents to the Law Firm (Days 8 to 15)
Once the deal is “firm,” your real estate agent sends the finalized Agreement of Purchase and Sale to your chosen law firm. Your mortgage broker also begins processing the extensive paperwork to send the official mortgage instructions to your lawyer’s office.
Step 3: Title Searches and Legal Preparation (Days 15 to 45)
Your lawyer now goes to work. They will conduct deep searches into the London Land Registry database to ensure the seller has no hidden debts, tax arrears, or boundary disputes. During this window, you must arrange your home insurance policy, because the lawyer needs proof of insurance to finalize your mortgage.
Step 4: The Final Signing Appointment (Days Before Closing)
About 2 to 5 days before your official closing date, you will visit your lawyer’s office. During this meeting, you will sign a mountain of legal documents, including the property deed transfer and the mortgage agreement. You will also hand over a certified cheque or bank draft covering your down payment, Land Transfer Tax, and legal fees. 📝
Step 5: Closing Day (The Final Day)
On Closing Day, you wait. Your lawyer receives the mortgage money from your bank, combines it with your down payment, and securely transfers the total sum to the seller’s lawyer. Once the seller’s lawyer confirms receipt of the funds, your lawyer registers the title in your name at the land registry. Only then are the keys legally released to you.
What Can Delay or Rush the Costs?
While the timeline is generally fixed by the contract, trying to rush a closing or facing delays can trigger unexpected financial costs. 💵
| Type of Issue | Impact on Timeline / Cost (CAD) |
|---|---|
| Bridge Financing Loan | Allows you to close on the new house before selling the old one ($500 – $1,000+ in fees and daily interest). |
| Lawyer Rush Fees | If closing is under 14 days, lawyers often charge a rush premium of $200 – $400. |
| Late Fund Arrival | If your bank is slow, closing delays to the next day. You may owe the seller daily interest penalties. |
| Title Defects | Finding an old lien can delay closing by weeks while the seller legally clears the title. |
A standard 60-day closing is highly recommended for London buyers, as it provides ample time for lenders to process paperwork without requiring stressful, last-minute rush fees.
How Long Does the Process Take on Closing Day?
Many buyers mistakenly book a moving truck for 9:00 AM on closing day, assuming they own the house at breakfast. This is a massive mistake.
Because banks and lawyers must verify funds and execute wire transfers, the transaction rarely closes in the morning. According to Ontario property law, the electronic land registry system closes at 5:00 PM. Therefore, most buyers in London receive the call from their lawyer that the keys are ready between 3:00 PM and 4:30 PM. It is always safest to schedule your actual moving day for the day after closing. 🚚
Frequently Asked Questions (FAQ)
Can I change the closing date after signing the agreement?
You can only change the closing date if both the buyer and the seller agree to it in writing via a legal amendment. If the seller refuses, you are legally bound to close on the original date.
What happens if the seller leaves the house dirty or full of junk?
The standard contract requires the home to be left in “broom swept” condition. If they leave significant garbage, your lawyer cannot usually hold back funds on closing day, but you can pursue the seller later in Small Claims Court for the disposal costs.
Do I get to visit the house one last time before closing?
Yes, standard Ontario real estate contracts usually include the right to one or two “buyer visits” before closing. You can use this time to measure for furniture or ensure the seller has not damaged the property while moving out.
What if my mortgage is not approved in time?
If you fail to secure a mortgage during the conditional period, you can simply back out of the deal and get your deposit back. If you fail to get funds on the actual Closing Day after firming up the deal, you are in breach of contract and could be sued for substantial financial damages.
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