Buyers Guide » Offer & Completion

Negotiating and Acceptance

If your offer is accepted you will still need to remove the subject clauses before the sale is finalized. If your offer is rejected, there is no deal and that is the end of the transaction. If the seller presents a counter-offer in which some of the terms are changed, you are then free to accept the counter-offer, reject it or make a counter-offer.


Once your offer is accepted you will need to carry out a number of steps and fulfill certain legal requirements before the completion of the transaction.

  1. Pay the deposit amount you agreed to in the contract. This will be kept in trust and will become part of your down payment.
  2. Have the home inspected. Most Realtors recommend that you have your home inspected by a certified home inspector. Ask your REALTOR® for a list of qualified inspectors.
  3. Satisfy the conditions and subject clauses set out in the contract. For example, if you made the sale subject to a certified inspection, you will have to complete the inspection by the stated date. If the findings from the inspection report are not to your satisfaction, then the condition wasn't met and the contract will terminate.
  4. Finalize your mortgage. You will need to send your lender a copy of the Contract of Purchase and Sale and an up-to-date land survey of the property. The lender will also arrange to have an appraisal of the property done.
  5. Purchase Homeowners' Insurance.
  6. Hire a lawyer or notary public. Your REALTOR® will send your lawyer/notary a copy of the signed Contract of Purchase and Sale. Your lawyer/notary will:
  • Search the title to make sure it is free of complications.
  • Make sure the property taxes are up to date.
  • Prepare all the documents to transfer ownership to you.
  • Ensure that the seller's mortgage is discharged.
  • Prepare a Statement of Adjustments showing the money you owe.
  • Arrange for the transfer of money from your lender to the seller.
  • Ensure you are registered as the owner in the Land Titles Office.
Completion Day

The Completion Day is the day you legally get ownership of the house. There are several things that will take place.

  • Your bank will provide the mortgage money to your lawyer/notary.
  • You must pay the balance owing, including the down payment, legal fees, property transfer taxes, and any other remaining completion costs. For more information read our Completion Costs Guide.
  • Your lawyer/notary will pay the seller and register the home in your name with the Land Title Office.
  • You will get the keys to your new home.

Congratulations! You are now able to move in to your new home.

« Prev: Searching for a Home Back To Top Next: Buyer's Guide Index »