Accepted Offer & Pre-Closing Steps (For Sellers)

Steps to Take After You Accepted an Offer, and Leading Up to Closing Date (for Sellers)

Once you’ve accepted an offer, the time leading up to closing is crucial to ensuring a smooth and stress-free transition. To help you stay organized and prepared, here’s a step-by-step guide to keep everything on track before the big day.

1. Ensure The Deposit Was Received

Contact your realtor to ensure that the buyer has submitted the deposit to the deposit holder. 

2. Condition Fulfillment

Before your deal is considered firm and unconditional, all conditions must be fulfilled or waived, and the deposit must have been received. Ensure both of the steps above are completed before proceeding to the next steps. 

Stop here: If your offer has conditions, wait until they are all fulfilled and the offer is firm before proceeding to the next steps.

3. Send Documents to Your Lawyer and Lender

Provide your lawyer and lender with all required documents, including the Agreement of Purchase and Sale, waivers, and fulfillment documents. Maintain regular communication with them to ensure a smooth process. If you need a lawyer recommendation, click here to view our trusted professionals.

4. Cancel or Transfer Property Insurance & Utilities

Contact your insurance provider and all utility providers (gas, hydro, water, property tax, internet, etc.) to transfer or cancel your services as of your closing date.  

5. Plan Your Move

Schedule movers or make moving arrangements. If you are moving from a condo, notify the property manager and book the elevator if necessary. It is recommended to schedule your move for the day after closing in case of any unexpected delays.

6. Expect a Final Walkthrough (If Applicable)

If included in your offer, be prepared that the buyers will likely request a final walkthrough to be completed a few days before closing. The home doesn’t have to be perfect or tidy (they know you’re moving). Just make sure everything is in good working order on that day, as they will be testing everything to make sure everything works properly before closing. If something needs to be repaired or replaced, do that before the final walkthrough and definitely before closing. 

7. Change of Address and Mail Forwarding

Update your address with necessary services such as your bank, employer, subscriptions, and government agencies. Consider setting up mail forwarding through Canada Post to catch any missed updates. Follow our helpful Moving/Closing Checklist and Change of Address Checklists to keep you on track with this process.

8. Review Legal Documents and Prepare Closing Funds

Your lawyer will provide details on any documents you need to review and sign before closing. They will also confirm the exact amount required for closing costs, which must be provided in the form of a certified cheque or bank draft.

9. Leave Instructions, Manuals, Keys, and Openers 

When you leave the property on closing day, please provide the new owners with written instructions that include the location of the mailbox and the mailbox number, alarm codes, maintenance tips, and any other helpful information about the home. Additionally, leave behind all manuals, keys (house keys, garage remotes, mailbox keys, etc.), and any devices that grant access to or control aspects of the property (e.g. fan remotes, fireplace remotes).

10. Stay in Contact and Ask Questions

Keep in touch with your lawyer and lender to ensure everything is on track. 

For additional recommendations on service providers such as lawyers, mortgage brokers, inspectors, movers, and more, please visit Our Trusted Contacts. If you have any questions or need further assistance, don’t hesitate to reach out. I’m here to help you through every step.