Accepting an offer feels like the finish line.
In reality, it’s the beginning of the closing process.
When I talk with Greater Sudbury sellers after an offer is accepted, the first question is usually: what do we need to do now? The answer depends on the agreement, especially its conditions and closing date. Here is the sequence I ask sellers to watch.
Step 1: The Conditional Period (If Applicable)
If the accepted offer has conditions, you have a binding agreement, but the sale is not firm yet. Each condition and deadline matters. If you are unsure what you need to provide or when, ask your agent and lawyer.
During this window, the buyer may:
- Finalize mortgage approval
- Complete a home inspection
- Review documents with their lawyer
- Secure insurance approval
Your role? Provide the access and documents you agreed to, and keep the home in its agreed condition.
The sale becomes firm when the conditions are fulfilled or waived in the way the agreement requires. If a deadline is in doubt, do not assume the agreement simply ends; speak with your lawyer about the next step.
Learn more about managing risk in Conditional Offers.
Step 2: Deposit & Commitment
The agreement sets the deposit amount, who receives it and when it is due. A brokerage often holds it in trust, though the agreement may name a lawyer instead.
On closing, the deposit is normally credited toward the purchase price.
If the deposit is late or missing, do not assume the deal has cancelled itself. Tell your agent and lawyer promptly; missing a deposit deadline can have legal and financial consequences. RECO explains why a missing deposit is not an automatic cancellation.
Step 3: Lawyer-to-Lawyer Process
Send your accepted agreement to your lawyer promptly, even if conditions are still outstanding. Legal preparation can start before the sale is firm and continues through closing.
Your real estate lawyer will:
- Review title and legal documents
- Coordinate with the buyer’s lawyer
- Arrange mortgage payout (if applicable)
- Prepare closing statements
Much of this work happens behind the scenes. If your lawyer asks for identification, mortgage details or a document about the property, respond early enough to leave room to resolve a problem before closing day.
If you want a broader explanation of the paperwork buyers and sellers may see during a transaction, review The Real Estate Forms Buyers and Sellers See in Greater Sudbury and the Real Estate Dictionary.
Step 4: Preparing for Closing
Before closing day:
- Utilities are arranged for transfer
- Insurance stays in place through closing; confirm any coverage change with your insurer and lawyer
- The home must remain in agreed condition
- Buyers may have a final visit if the agreement provides for one
That final visit is a chance to check the home's condition, agreed inclusions and any work the agreement required. It is not a substitute for earlier due diligence. RECO describes the purpose and limits of pre-closing visits.
Before you pack or replace an item, check whether it is included in the agreement. A quick conversation now is easier than a dispute at the door.
This closing-stage coordination is part of a larger seller timeline from consultation to closing.
Step 5: Closing Day
On closing day:
- Lawyers coordinate the closing funds and title registration
- Ownership transfers when the transaction is completed
- Keys or access codes are released after the lawyers confirm closing
Track the agreement from acceptance to closing
| Stage | Seller focus | Common risk |
|---|---|---|
| Conditions | Provide agreed access and documents through the representatives. | Treating a conditional agreement as guaranteed before conditions are fulfilled or waived. |
| Legal preparation | Send the agreement and requested property information to the lawyer promptly. | Late mortgage-payout, title or identification issues. |
| Property preparation | Complete agreed repairs, preserve inclusions and maintain the home. | Removing an included item or leaving work undocumented. |
| Final days | Arrange utilities, insurance, keys, moving and any final visit the agreement provides for. | Promising possession before the lawyers confirm closing. |
Keep the property in the agreed condition
Continue ordinary maintenance and address new damage promptly. Do not replace an included appliance, fixture or chattel without checking the agreement and getting appropriate advice. Keep receipts and photographs for repairs the agreement requires.
Calculate net proceeds again
The accepted price is not the amount available for the next purchase. Update the mortgage payout, legal fees, real estate compensation, adjustments, moving costs and any repair commitments. A written net sheet reduces the chance of committing the same dollars twice.
Keep one closing file
Store the accepted agreement, amendments, condition notices, repair invoices, lawyer correspondence and moving details in one place. Confirm instructions through known contact information before sending funds or sensitive documents. A clean file helps the seller answer questions without relying on memory during the busiest week.
When the agreement is in dispute: Conditions, deposit deadlines and remedies depend on the signed terms and the facts. Ask your own Ontario real estate lawyer for advice before deciding a deal has ended or possession can be given.
Beyond the Close
Keep your closing statement and the final agreement where you can find them. You may need them when you review adjustments, update your records or ask a post-closing question.
If something needs attention after closing, my Beyond the Close process is there to help you find the right next contact. You can also see how that fits into the full Seller Experience.
Chad Moore
REALTOR® | Lake City Realty
Expect Moore for Your Real Estate.