Funding
The Signing (Mortgage Closing Process in Ontario)
When your lender is ready to fund your mortgage, the final stage of the process is completed through your real estate lawyer—not a notary or escrow officer, as is common in other jurisdictions.
In Ontario, your lawyer will coordinate all final signing appointments and ensure that all legal and mortgage documents are properly executed before closing day.
You will typically sign:
- Mortgage commitment and related lender documents
- Final closing documents prepared by your lawyer
- Authorizations for fund transfer and registration
Preparing for Signing
Before your signing appointment, your lawyer or mortgage broker may advise you to:
- Bring valid government-issued photo ID
- Confirm final down payment details and source of funds
- Review your Statement of Adjustments in advance
- Ensure any required certified funds or bank drafts are prepared (if applicable)
Take the time to carefully review all documents with your lawyer. They are there to explain each item and ensure accuracy before you sign.
Wire Transfers and Fund Transfers
In Ontario real estate transactions, funds are typically transferred through your lawyer’s trust account using:
- Bank drafts
- Certified cheques
- Electronic wire transfers
If a wire transfer is required, your lawyer will provide official instructions. It is extremely important that:
- Instructions are verified directly with your lawyer’s office
- Details are double-checked for accuracy
- Funds are only sent to confirmed, trusted accounts
Fraud prevention is critical in real estate transactions, so verification steps are strictly followed.
Congratulations – Closing Complete
Once all documents are signed and funds are transferred:
- Your lawyer registers the property in your name through Ontario’s land registry system
- The seller receives the proceeds of the sale
- You officially become the owner of the property
Your REALTOR® and lawyer will confirm when the transaction has successfully closed.
It is always recommended to keep copies of all final documents, including your closing package, for future reference.