How Ready Are You for Your Real Estate Closing?

Discover your closing readiness level with this quick assessment. In just 4 questions, we'll evaluate your understanding of timelines, costs, documentation, and critical steps that protect your investment. Get a personalized action plan based on your results—plus insider tips that real estate professionals use to ensure smooth closings.

When it comes to closing costs, how prepared are you?

I haven't thought about closing costs yet—I assumed it's just the down payment. I know closing costs exist, but I'm not sure what they include or how much to budget. I understand closing costs are 1.5-4% of the purchase price, but I haven't reviewed a detailed breakdown. I have a clear breakdown of all closing costs for my province and have reviewed my preliminary closing statement.

How confident are you about the closing timeline and what to expect?

I'm not sure how long closing takes or what happens between offer acceptance and closing day. I know closing happens sometime in the next couple of months, but the exact timeline is unclear. I understand it typically takes 30-60 days and involves inspections, appraisals, and title searches. I have a detailed timeline mapped out with all key dates, and I understand each step leading to closing.

What's your current status with essential closing requirements?

I haven't arranged homeowner's insurance yet, and I'm not sure what documents I'll need for closing. I've started gathering some documents, but I don't have a complete list and haven't secured insurance yet. I have homeowner's insurance arranged and most required documents, but I want to verify I have everything. I have all documents ready, insurance confirmed, and a lawyer who's prepared my closing statement.

Have you hired a real estate lawyer, and do you understand the closing process for your province?

I haven't hired a lawyer yet and I'm not sure if I really need one or what they actually do. I'm planning to hire a lawyer, but I haven't selected one or discussed their closing responsibilities. I have a lawyer, and I understand the general closing process, but I'm not fully aware of my province's specific requirements. I have an experienced lawyer who specializes in my province, and we've discussed all closing details and provincial variations.