Completing Your Home Closing Remotely

A remote closing or a virtual closing is similar to the traditional method except that many or all procedure components are completed remotely. In contrast, within a typical home transaction, the seller, purchaser, and agents, alongside their respective attorneys, could assemble around the closing table to make appropriate payments and review and sign an agreement during a traditional closing.

While most pandemic mandates have been lifted, some changes are here to stay.

One of the most impactful is the now normalized process for remote closings. With restrictive policies no longer here, you may be wondering why it would continue. The truth is remote closings have grown as a trend over the last decade - the pandemic just supercharged it. 

As a result, today whether you are a foreign buyer, a busy investor, or prefer to keep your distance - purchasing or selling remotely in the Greater Toronto Area, including in towns like Richmond Hill, Vaughan, Markham, Newmarket, or Aurora, is easy. 

Canada’s broadly permissive statutory framework solves a bulk of the friction around remote closing by allowing the use of electronic signatures through programs such as DocuSign. This ability to sign remotely is true both at the federal level and in the province of Ontario. As a result, your legal representative can handle virtually every piece of the legal process in a closing.

Our team can handle your statutory declarations, including compliance with the family law act, the income tax act, the planning act, and the construction act - all remotely.

Furthermore, the process for title review and title insurance, and the exchange of funds can also be done remotely - ensuring that there are no obstacles that could stop the sale of the home.

These can include zoning issues or outstanding mortgage payments by the former owners. Lastly, to ensure a smooth remote operation, our team can handle your home inspection and walkthrough remotely, taking your place at those key events. 

Thinking of selling or buying a home? While the process can feel daunting, it doesn’t have to. 

Our team is only a call away. Reach out today.