Offer Accepted — What Happens Next?
Congratulations — your offer has been accepted! Here is exactly what happens between acceptance and getting your keys, and how to make sure nothing falls through.
Your Post-Acceptance Checklist
Submit Your Deposit
In Ontario, the deposit is typically due within 24 hours of acceptance. This is usually 1% to 5% of the purchase price and is held in trust by the brokerage. It is not an extra cost — it is applied toward your purchase price at closing. Make sure your funds are accessible before you make an offer.
Book Your Home Inspection Immediately
Do not wait. Good home inspectors in Renfrew County book up quickly. I maintain a list of trusted, licensed inspectors for every property type — town homes, rural properties, older homes, and waterfront. The inspection typically takes 2 to 3.5 hours, and you should be present for it.
Confirm Your Financing
Contact your mortgage broker or lender immediately with the accepted offer details. They will order an appraisal if required and work to get your full approval within the financing condition period. Do not make any large purchases or change jobs during this period — it can affect your mortgage approval.
Hire a Real Estate Lawyer
You need a real estate lawyer to handle the title transfer, review the agreement, and manage the financial transaction on closing day. Budget $1,500 to $2,500 for legal fees and disbursements. If you do not have a lawyer, I can refer you to ones I trust in Pembroke and the surrounding area.
Waive or Exercise Your Conditions
Once the inspection is complete and financing is confirmed, you will either waive your conditions (making the deal firm) or exercise them (withdrawing from the deal). I walk you through the inspection report, answer every question, and help you make this decision with full confidence.
Prepare for Closing Day
After conditions are waived, the deal is firm. Your lawyer handles the closing paperwork and title transfer. I coordinate a final walkthrough of the property shortly before closing to confirm everything is in the agreed-upon condition. On closing day, your lawyer releases funds to the seller’s lawyer and you receive your keys.
What to Expect at Closing
Land Transfer Tax
Ontario charges land transfer tax on every property purchase. First-time buyers receive a rebate of up to $4,000 on provincial LTT, which covers most or all of the tax on a typical Ottawa Valley purchase.
Legal Fees
Your lawyer’s fee for handling title transfer, mortgage registration, and closing documentation typically runs $1,500 to $2,500 including disbursements in Ontario.
Title Insurance
A one-time premium (usually $300 to $500) that protects you against title defects, encroachments, and other issues that may not surface in the title search. Almost always required by lenders.
Adjustments
Property taxes and utilities are typically prorated between buyer and seller based on the closing date. Your lawyer calculates and manages these adjustments so everything is settled fairly.
Your Purchase is in Good Hands
I stay with you from accepted offer to closing day and beyond. If anything comes up — inspection concerns, financing questions, closing surprises — you have someone experienced in your corner.
Questions About Your Accepted Offer?
From home inspection to final walkthrough, Kayla is with you every step of the way to make sure your purchase closes smoothly.