First-Home Purchase Closing Checklist

A closing checklist for a first home purchase in Canada, in the order the work falls due: financing, offer and conditions, lawyer or notary, transfer tax, GST/HST, first-time buyer withdrawals and relief, closing day, and the filings that follow. Every item points to the guide that states the rule in full.

Written October 31, 2026 · Edited November 7, 2026 · 19 min read

Applies in: CA

How to use this checklist

Work it in order, and tick an item off only when the document or confirmation behind it is in hand. This checklist is the short form of the full purchase guide, How to Start Buying Real Estate in Canada, which states each rule, rate, and deadline in full, plus the three mortgage guides on disk for the mortgage contract itself. Where this checklist and a government page disagree, the government page wins, and where a figure is not stated here, it is because the full guide states no figure for it either. Nothing here is investment advice or a recommendation about price or timing.

Phase 1: Before the offer

1. Financing checked in writing, not estimated in your head

Get a lender check of income, debts, credit history, and down payment funds before offering, and keep the lender's figure as the price range. A pre-approval is not a promise to lend on a specific home, and the financing condition in the offer still has to be satisfied for that property. Source: Canada Mortgage and Housing Corporation, Buying guides. Target: How to Start Buying Real Estate in Canada.

2. Mortgage contract terms read before signing

Know the term, the amortization, whether the rate is fixed or variable, how the payment behaves when the rate moves, and what the contract charges for breaking it or paying extra. The Financial Consumer Agency of Canada explains the fixed and variable shapes, the trigger rate, and the prepayment charge in its mortgage pages. Do not sign a mortgage on the rate alone. Source: Financial Consumer Agency of Canada, Choosing a mortgage that is right for you; Interest on mortgages. Targets: How variable vs fixed mortgages actually work in Canada and How to Start Buying Real Estate in Canada.

3. Down payment funds traced to their source

Keep every down payment dollar where its source can be shown: savings, a gift, a First Home Savings Account withdrawal, or a Home Buyers' Plan withdrawal. The lender and the lawyer will both ask, and gifted or transferred funds without a paper trail slow a file down at the worst point in the process. Source: Canada Mortgage and Housing Corporation, Buying guides. Target: How to Start Buying Real Estate in Canada.

Phase 2: Offer and conditions

4. Offer in writing, with price, deposit, dates, and inclusions

Confirm the agreement of purchase and sale names the price, the deposit and how it is held, the closing date, and every chattel included in the sale. Fixtures stay with the home; anything else stays only if the agreement lists it. Read the deposit clause before signing. In Quebec, the same stage runs through a promise to purchase and a deed of sale before a notary. Source: Canada Mortgage and Housing Corporation, Buying guides. Target: How to Start Buying Real Estate in Canada.

5. Every condition listed, with its own expiry date

List each condition, financing, home inspection, condominium document review, title search, and sale of an existing home where one applies, with the date it expires. Work each condition inside its window, and waive it in writing only when it is satisfied. A missed waiver date can leave an offer firm by default under the agreement's own terms. Source: Canada Mortgage and Housing Corporation, Buying guides. Target: How to Start Buying Real Estate in Canada.

6. Inspection booked, and condominium documents requested

Book the home inspection inside the inspection condition window, and request the condominium status certificate and related records inside the document-review window for a condo purchase. An inspection reports what the inspector could see on the day; it is not a warranty or a valuation. Source: Canada Mortgage and Housing Corporation, Buying guides. Targets: How to Start Buying Real Estate in Canada, How to become a home inspector in Ontario, and How to become a home inspector in British Columbia.

Phase 3: Before closing

7. Lawyer or notary engaged, and title searched

Engage the lawyer or, in Quebec, the notary early enough to search title, confirm the seller can sell, and clear any charge or lien that must be cleared before closing. In British Columbia a lawyer or notary can act. Source: Government of Ontario, A Guide for Real Estate Practitioners: Land Transfer Tax and the Electronic Registration of Conveyances of Land in Ontario. Target: How to Start Buying Real Estate in Canada.

8. Transfer tax calculated for the province, the municipality, and the tax base

Get the lawyer's closing calculation of the transfer tax, on the base the province uses, before waiving the financing condition. Ontario taxes the value of the consideration in brackets to 2.0 per cent, and 2.5 per cent above $2,000,000 for one or two single-family residences. Toronto adds municipal land transfer tax, with higher graduated rates above $3,000,000 from April 1, 2026. British Columbia taxes fair market value at 1, 2, and 3 per cent, plus a further 2 per cent on residential value above $3,000,000. Manitoba taxes fair market value in brackets to 2.0 per cent above $200,000. Worked figures: $8,475 in Ontario on $600,000 before relief, $8,000 in British Columbia on $500,000, $3,650 in Manitoba on $300,000. Sources: Government of Ontario, Calculating Land Transfer Tax; City of Toronto, Municipal Land Transfer Tax Rates and Fees; Province of British Columbia, Property transfer tax; Government of Manitoba, Land Transfer Tax. Target: How to Start Buying Real Estate in Canada.

9. Foreign-buyer taxes and the federal prohibition checked, where they apply

If any buyer is not a Canadian citizen or permanent resident, get legal advice on the federal prohibition as it stands on the signing date, and on the provincial tax for the province where the home sits. Ontario's Non-Resident Speculation Tax is 25 per cent in addition to general land transfer tax. British Columbia's additional property transfer tax is 20 per cent in five specified regional districts. Toronto adds a municipal non-resident speculation tax of 10 per cent. The federal ban was extended to January 1, 2027, and its position after that date was not settled on a federal page checked on October 31, 2026. Sources: Department of Finance Canada, extension announcement, February 4, 2024; Government of Ontario, Non-Resident Speculation Tax; Province of British Columbia, Additional property transfer tax; City of Toronto, Municipal Land Transfer Tax Rates and Fees. Target: How to Start Buying Real Estate in Canada.

10. GST/HST position settled: new home taxed, resale generally exempt

Confirm whether the price is plus tax or tax included, and whether any new housing rebate has been assigned to the builder and credited against the price. Sales of previously occupied housing are generally exempt; sales of new and substantially renovated housing are taxable. The standard new housing rebate is generally 36 per cent of the federal tax to $6,300, phasing out between $350,000 and $450,000. The first-time home buyers rebate refunds 100 per cent of the federal tax to $1 million, phasing out to $1.5 million. Check who files the rebate and the deadline for the purchase type. Sources: Canada Revenue Agency, Type of supply; Excise and GST/HST News No. 122; First-time home buyers GST/HST rebate, applying for the rebate. Targets: How to Start Buying Real Estate in Canada and GST/HST on rental and commercial property in Canada.

11. First-time buyer withdrawals filed, with each program's own test met

File the First Home Savings Account withdrawal and the Home Buyers' Plan withdrawal separately, each against its own conditions. The First Home Savings Account gives $8,000 of room a year to a $40,000 lifetime limit, and a qualifying withdrawal needs a written agreement, with completion before October 1 of the year following the withdrawal and occupation within one year. The Home Buyers' Plan allows up to $60,000 in total, on Form T1036, repaid over 15 years. Do not assume qualifying under one program proves the other, or proves a provincial transfer-tax refund. Sources: Canada Revenue Agency, Withdrawals and transfers out of your FHSAs; Definitions for FHSAs; The Home Buyers' Plan; How to make withdrawals under the Home Buyers' Plan. Target: How to Start Buying Real Estate in Canada.

12. Transfer-tax relief claimed at registration, or recorded for its deadline

Claim the provincial relief in the registration paperwork where the program allows it. Ontario's refund of up to $4,000 is usually taken at registration, and otherwise must be claimed within 18 months of the transfer. British Columbia's exemption is applied in the property transfer tax return, for a home at $835,000 or less with the exemption on the first $500,000, and a missed exemption can be claimed as a refund from the first anniversary to 18 months after registration. The buyer must also meet the occupancy conditions that keep the relief. Sources: Government of Ontario, Land Transfer Tax Refunds for First-Time Homebuyers; Province of British Columbia, First time home buyers' program. Target: How to Start Buying Real Estate in Canada.

13. Written closing-cost estimate received, line by line

Get a written estimate from the lawyer or notary showing the transfer tax, any municipal tax, the GST/HST position, legal fees, disbursements, registry fees, and title insurance where advised, each as its own line. If a line cannot be estimated, ask what it depends on and when the firm will know. Source: Canada Mortgage and Housing Corporation, Buying guides. Target: How to Start Buying Real Estate in Canada.

Phase 4: Closing day

14. Statement of adjustments checked against a bill or notice

Check every prorated line, property taxes prepaid, utilities, and condominium fees, against the underlying bill before the funds move. Keep the signed statement with the closing file. Source: Government of Ontario, A Guide for Real Estate Practitioners (statement of adjustments and registration practice). Target: How to Start Buying Real Estate in Canada.

15. Funds, registration, and possession confirmed in that order

Confirm the mortgage advance and the buyer's funds reached the seller through the lawyers or notaries, the transfer and mortgage were registered, and possession was taken as the agreement states. In Ontario registration runs electronically through Teraview; in British Columbia the property transfer tax return is filed on registration at the Land Title Office. Source: Province of British Columbia, Property transfer tax; Government of Ontario, A Guide for Real Estate Practitioners. Target: How to Start Buying Real Estate in Canada.

Phase 5: After closing

16. Speculation or vacancy declaration filed, where one applies

In British Columbia, complete the annual speculation and vacancy tax declaration by March 31, even when an exemption applies. The 2026 rates are 3 per cent for foreign owners and untaxed worldwide earners and 1 per cent for Canadian citizens and permanent residents; from 2027 they are 4 per cent and 1 per cent. Check any city vacant-home tax for the municipality where the home sits. Sources: Province of British Columbia, Tax rates for the speculation and vacancy tax; Assessments and appeals for the speculation and vacancy tax. Target: How to Start Buying Real Estate in Canada.

17. Tax return claims prepared for the year of purchase

Prepare the home buyers' amount, up to $10,000 for 2025 and worth up to $1,500, for the tax return, and keep the First Home Savings Account and Home Buyers' Plan slips and the rebate paperwork with the return file. Remember that the home buyers' amount is return relief, not closing cash. Sources: Canada Revenue Agency, Housing benefits; First-Time Home Buyers' Tax Credit. Target: How to Start Buying Real Estate in Canada.

18. Closing file kept whole

Keep the agreement, the condition waivers, the statement of adjustments, the transfer tax receipts, the mortgage documents, and the rebate and withdrawal paperwork together. The next time any of them matters, whether a refund claim, a declaration, or a tax return, the file is the evidence. Source: Canada Mortgage and Housing Corporation, Buying guides. Target: How to Start Buying Real Estate in Canada.

Related guides:

The closing checklist, in five phases

Before the offerFinancing checked in writing, mortgage contract terms understood, and down payment funds traced to their source.
Offer and conditionsPrice, deposit, closing date, and inclusions in writing, with each condition given its own deadline.
Before closingLawyer or notary engaged, title searched, transfer tax calculated for the province, and the GST/HST position settled.
Closing dayFunds sent, transfer and mortgage registered, statement of adjustments checked, and possession taken as the agreement states.
After closingRegistration confirmed, declarations noted, and tax return claims prepared for the year of purchase.

Questions people ask

What is the single most expensive item buyers miss on this checklist?

The transfer tax, because it is set province by province and a second tax can sit on top of it. Ontario charges land transfer tax in brackets, Toronto adds municipal land transfer tax on top, British Columbia charges on fair market value plus a further 2 per cent above $3,000,000 of residential value, and a new home adds GST/HST on the price. Work through the transfer-tax item and the GST/HST item before waiving the financing condition, using the province and municipality where the home sits, and confirm both figures in the lawyer's closing calculation.

Do I claim first-time buyer relief at closing, or afterwards?

At registration where the program allows it, because the relief then offsets the tax payable on the day. Ontario's first-time buyer refund is usually claimed at registration, and a claim made afterwards must reach the Ministry of Finance within 18 months of the transfer. In British Columbia the exemption is applied in the property transfer tax return by the buyer's legal professional, and a refund claim for a missed exemption runs from the first anniversary to 18 months after registration. The deadlines and the eligibility tests differ, so check the item for the province where the home sits and do not assume one province's window applies in the other.

Can I use both a First Home Savings Account withdrawal and a Home Buyers' Plan withdrawal for the same home?

Yes, provided the conditions are met at the time of each withdrawal. The Canada Revenue Agency states that a qualifying withdrawal from a First Home Savings Account and a withdrawal from registered retirement savings plans under the Home Buyers' Plan can be made for the same qualifying home. The two measures still have separate tests: the First Home Savings Account withdrawal needs a written agreement and an occupancy deadline, and the Home Buyers' Plan withdrawal needs [Form T1036](https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t1036.html) and stays within the $60,000 total limit. Keep the paperwork for each withdrawal separate, and confirm each one with the account issuer before the closing date.

What should I check on the statement of adjustments before closing day?

Each prorated line against a bill or a tax notice: property taxes the seller prepaid, utility charges, and condominium fees where they apply, split by the days each party owned the home. The statement is the document where a prepaid year of property tax or a mid-period utility bill shows up as money owed back to the seller, and it is much easier to query a line before the funds move than after. Ask the lawyer or notary for the statement early enough to check it, and keep the signed copy with the closing file.

I live in the home I bought in British Columbia. Do I still have to file a speculation and vacancy tax declaration?

Yes. Every owner of residential property in a speculation and vacancy tax area must complete an annual declaration, even when an exemption applies, and the deadline is March 31 each year. Living in the home as a principal residence is an exemption from the tax, not an exemption from declaring. If no declaration is completed, the tax is assessed at the maximum rate. A newly bought property has a year-of-purchase exemption where property transfer tax was paid or an exemption from it applied, but the declaration for that year is still the step that records it.

Does the home buyers' amount help pay closing costs?

No. The home buyers' amount is a non-refundable tax credit claimed on the tax return for the year of purchase, up to $10,000 for 2025 and worth up to $1,500, and it reduces federal tax owing rather than putting cash in hand on the closing date. Do not budget it as closing funds. The measures that can put funds in hand before closing are the First Home Savings Account withdrawal and the Home Buyers' Plan withdrawal, each with its own conditions and deadlines, and any rebate the builder credits against the price on a new home.

Sources

Where a figure could not be verified on an official page for the parent guide, this checklist states no figure for it either: the Quebec transfer-duty rate schedule; the Nova Scotia general deed transfer tax schedule; transfer-tax schedules for Alberta, Saskatchewan, Prince Edward Island, Newfoundland and Labrador, and the territories; the current Toronto first-time buyer rebate maximum; provincial new housing rebate amounts for the provincial part of HST; lawyer, notary, appraisal, inspection, and title insurance costs; and the current status of the Underused Housing Tax. The federal foreign-buyer prohibition was checked on October 31, 2026 against the February 4, 2024 extension announcement, and its position after January 1, 2027 must be rechecked on a federal page before a non-Canadian buyer signs an offer. No checklist item was dropped for lack of a live target: every item points to the parent guide or to a live guide on disk, verified by listing the guides directory before writing.