For many buyers and sellers in Sarnia, the real estate process can feel overwhelming—especially once an offer is accepted. What actually happens between signing the offer and receiving the keys (or the sale proceeds)?
At Blue Coast Realty Brokerage LTD., we walk our clients through every stage of a real estate transaction. Here’s a simple, step-by-step guide to help you understand exactly what to expect.
#1 The Offer is Made and Accepted
Everything begins with a formal written offer. It includes the purchase price, closing date, deposit amount, and any conditions like financing or inspections.
If You’re the Buyer:
- Make your offer as clean and competitive as possible
- Include conditions if necessary (e.g. home inspection)
- Be prepared to negotiate terms with the seller
If You’re the Seller:
- Review each element carefully with your agent
- You can accept, reject, or counter the offer
- Consider both price and conditions—not just the top dollar
#2 The Deposit is Paid
Once the offer is accepted, the buyer provides a deposit—usually within 24 hours. This shows their commitment and is held in trust until closing.
In Sarnia:
- Deposits are often 1–5% of the purchase price
- Paid via certified cheque, bank draft, or wire transfer
- Held by the listing brokerage’s trust account
#3 Conditions Are Fulfilled (or Waived)
Most offers include conditions—clauses that must be satisfied before the sale becomes firm.
Common Conditions in Ontario:
- Home inspection
- Financing approval
- Sale of the buyer’s current home
- Review of condo documents (if applicable)
Once these are met, the buyer provides written notice to waive or fulfill them—making the deal firm.
#4 The Lawyer Takes Over
Once conditions are fulfilled, both parties’ real estate lawyers begin preparing for closing. This stage includes:
Legal Steps:
- Title search to ensure no issues on the property
- Review of taxes, utilities, and any liens
- Preparation of closing documents
- Coordination with the lender for mortgage funds
#5 Pre-Closing Preparations
In the weeks leading up to closing, both buyers and sellers have key responsibilities.
Buyers Should:
- Confirm mortgage approval and insurance
- Book a final walkthrough
- Arrange moving logistics
Sellers Should:
- Ensure the home is clean and empty by closing
- Cancel utilities and change address info
- Provide keys and garage remotes to their lawyer
#6 Closing Day
On the agreed-upon closing date, funds are transferred, the title is registered in the buyer’s name, and keys are officially released.
What Happens Behind the Scenes:
- Buyer’s lawyer transfers funds to the seller’s lawyer
- Seller’s mortgage (if any) is paid off
- New title is registered with Land Registry
- Buyer picks up keys—usually from their lawyer
#7 What Can Go Wrong—and How to Prevent It
While most closings go smoothly, it’s important to be prepared.
Potential Delays:
- Financing issues or late lender approvals
- Title defects
- Unmet conditions or incomplete paperwork
Avoid Surprises:
- Work with experienced professionals
- Provide documentation promptly
- Keep communication open with your agent and lawyer
Final Thoughts
From the first offer to receiving the keys, every step in a real estate transaction is critical. With proper guidance and preparation, the process can be smooth, efficient, and stress-free. Whether you're buying or selling in Sarnia, Blue Coast Realty Brokerage LTD. is here to walk you through every stage—so you can move forward with confidence.