From Offer to Keys: What to Expect on Closing Day and How to Prepare

Written by: Oviya Sugunakumar
Date: November 12, 2025

​Closing day is the most anticipated milestone in any real estate transaction. Although the process can sometimes feel overwhelming, having a clear understanding of what to expect and how to prepare can help ensure everything goes smoothly.

So, what actually happens on closing day? Your lawyer plays a crucial role in bringing the transaction to completion. They review and finalize all necessary documents, exchange paperwork with the other lawyer, and ensure that every condition in the agreement has been satisfied. It is important that both buyers and sellers remain available throughout the day in case any last-minute issues arise.

For purchase transaction, buyers should ensure all signed documents are returned promptly and that closing funds are deposited into their lawyer’s trust account ahead of time; ideally a few days before. Once funds are received and documents are exchanged, your lawyer registers the transfer of ownership (and mortgage, if applicable). When registration is complete, you officially become the new owner. Your lawyer will then confirm the closing and provide your keys or lockbox code. Although closing day may seem straightforward, purchasers should be aware that transactions often finalize later in the day and may close anytime up to 5:00 p.m. It’s important not to schedule post-closing arrangements such as moving services until your lawyer confirms that the transaction has officially closed. After closing, the purchaser’s lawyer will update the municipality for property tax record purposes.

For sale transactions, sellers should make sure the property is vacant, clean, and that all keys, fobs, and access codes are delivered before closing. Once the transaction is complete and your lawyer has finalized all accounting matters, sellers can expect to receive their sale proceeds. Whether purchase or sale, once the transaction is complete, you can expect to receive a final closing package containing important documents such as the registration record.
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At Theva Law, we know closing a real estate transaction can be stressful. Our team is committed to making the process smooth and straightforward so you can approach closing day with confidence, and focus on your next chapter.