How Home Buying Actually Works in Ontario: A Step-by-Step Guide

Buying a home in Ontario follows a fairly fixed sequence: get pre-approved for financing, search and view homes, submit an offer (usually with conditions), satisfy those conditions, then close. Most of the variation between purchases is in how long each step takes, not the order they happen in.

1. Get pre-approved before you search

A mortgage pre-approval from a bank or broker tells you what you can actually borrow and locks in an interest rate estimate for a set period, typically 90 to 120 days. Searching before you know this number means you risk falling for a home you can't finance, or underselling your own budget.

2. Search with your actual must-haves, not a generic filter list

Ontario listings come from the same MLS data no matter where you search, so the real work is narrowing by what matters to you: commute, school catchment, home type, and budget. If you're buying with a partner, parent, or roommates, this is also the point where mismatched priorities usually surface, which is exactly what AstraHomes' group swiping is built to catch early rather than after an offer.

3. Submit an offer

An Ontario offer is a legal document, the Agreement of Purchase and Sale (APS), that sets out price, closing date, and any conditions. Most resale offers include at least a financing condition and a home inspection condition, giving you a window to walk away if either falls through. A condo purchase typically adds a status certificate review condition as well.

4. Satisfy your conditions

During the condition period, you arrange your inspection, finalize financing, and (for a condo) have a lawyer review the status certificate for financial or legal red flags in the building. Once every condition is either satisfied or waived, the deal becomes firm.

5. Closing day

A real estate lawyer handles closing in Ontario, not the buyer directly. They register the transfer, disburse funds, and calculate land transfer tax owing. Closing typically happens 30 to 90 days after the offer becomes firm, depending on what was negotiated.

FAQ

Do I need a lawyer to buy a home in Ontario?

Yes. Ontario real estate closings are handled by a licensed real estate lawyer, who reviews the agreement, registers the title transfer, and manages the funds. This isn't optional for a standard resale or new-build purchase.

How long does closing take after an offer is accepted?

It depends on what's negotiated in the Agreement of Purchase and Sale, but 30 to 90 days between a firm deal and closing day is typical for a resale home.

What's the difference between pre-approval and pre-qualification?

Pre-qualification is a rough estimate based on self-reported numbers. Pre-approval involves a lender actually verifying your income, debt, and credit, and typically comes with a rate hold, which is why it's the step worth doing before you start seriously viewing homes.