Buying a house in Ontario follows a well-defined process: get pre-approved, sign a Buyer Representation Agreement (BRA), shop, offer, negotiate, satisfy conditions, transfer funds in trust, and close through your real estate lawyer. The full timeline runs 60–120 days from first showing to keys, depending on market conditions and your offer's closing date. Here is the step-by-step playbook.
In this guide, we cross-reference Sales Tax When Buying, Credit Score to Buy, What Is APS in Real Estate?, and What Is a Firm Offer? — click through whenever you want to go deeper on a related concept.
Step 1 — Mortgage Pre-Approval
Talk to a mortgage broker or your bank before you shop. Pre-approval tells you the maximum you can borrow at today's rates and locks in a rate for 90–120 days. The federal mortgage stress test still applies — you must qualify at your contract rate plus 2%, or the Bank of Canada's qualifying rate, whichever is higher.
Step 2 — Choose a Buyer Agent and Sign a BRA
Under TRESA, written agency must be in place before an agent works for you. The Buyer Representation Agreement defines the term, geographic scope, property type, and commission. Negotiate the term up front — 30–90 days is typical.
Step 3 — Define Your Criteria
Neighbourhood, price band, beds/baths, parking, transit, schools, condition. Send your agent a clear shortlist. The clearer your brief, the faster the right house surfaces.
Step 4 — Tour Properties and Watch the Market
Plan to see 5–15 homes. Expect to attend offer-presentation nights for offers-on-a-date listings. Use TRREB data — your agent should pull comparables for each home you take seriously.
Step 5 — Make an Offer (OREA Form 100)
Your offer is an Agreement of Purchase and Sale (APS) using OREA Form 100. Key terms: price, deposit (typically 5% in the GTA), closing date, conditions, inclusions/exclusions, and irrevocable time.
Step 6 — Conditions Period
Common conditions: financing (5–10 business days), home inspection (5 business days), and condo status certificate (10 business days for condos). Conditions protect your deposit if you cannot satisfy them.
Step 7 — Hire a Real Estate Lawyer
Engage a real estate lawyer as soon as your offer is firm. They will review the APS, search title, prepare the Statement of Adjustments, and handle closing.
Step 8 — Final Mortgage Approval and Insurance
Your lender does its own appraisal during the financing condition. Once approved, you bind home insurance — a binder letter is required before closing.
Step 9 — Pre-Closing Walkthrough
Schedule a final walkthrough 24–48 hours before closing to confirm condition and that all chattels remain. Notify your lawyer of any issues.
Step 10 — Closing Day
Funds transfer through your lawyer in trust. Title registers electronically. You meet your lawyer to sign documents and pick up keys (often after 4pm).
Frequently Asked Questions
How long does it take to buy a house in Ontario?+
From signing a BRA to keys is typically 60–120 days. The longest stretches are usually finding the right home and the closing period selected in the offer (30–90 days).
How much deposit do I need?+
Standard GTA practice is 5% of the purchase price, paid by certified cheque or wire within 24 hours of the offer being accepted. The deposit is held in the listing brokerage's trust account and credited at closing.
Do I need a home inspection?+
Strongly recommended. In hot markets buyers sometimes waive inspection — instead, many buyers do a pre-listing inspection during the showing window with the listing agent's permission.
What if my financing falls through?+
If you have a financing condition and you cannot satisfy it within the timeline, you can terminate the deal in writing and your deposit is returned. Without a financing condition, your deposit and potentially more is at risk.
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Work With a Top Toronto Real Estate Agent
Aldo Udovicic and the (416) GET ALDO team have closed thousands of Ontario purchases — from first-time Scarborough condos to seven-figure central Toronto homes. Let's get you pre-approved and ready to shop.