f.a.q +
buyer protection.

Simple black line drawing of a house with a triangular roof, two windows, a door, a chimney, and smoke coming out of the chimney.

  • No. Your deposit is one of the most protected parts of buying a home in Ontario.

    It goes into a regulated real estate trust account — not to the seller, not to the agent, and not into anyone’s personal or business funds.

    These trust accounts are monitored under RECO and TRESA, audited regularly, and legally required to stay separate from all brokerage money.

    Your deposit cannot be moved or released unless you sign for it (or a court decides).
    No one can “use it,” “borrow it,” or quietly take it.

    It sits there — untouched and protected — until closing.

  • Changing your mind is not a protected reason to walk away in Ontario.

    Here’s the accurate breakdown:

    If your offer is conditional:
    Conditions must be used in good faith for what they’re intended for — financing, inspection issues, status certificate findings, etc.
    They are not an escape hatch for cold feet.
    If something legitimate fails (e.g., lender declines, inspection reveals material issues), you can back out and get your deposit returned.

    If your offer is firm:
    You are bound to the agreement.
    Backing out for personal reasons can mean losing your deposit and potentially being held liable for the seller’s losses if they later sell for less.

    This is why understanding your offer — and your comfort level — before signing matters more than anything.
    A good agent slows the pace so you never lock yourself into paperwork your nervous system isn’t ready for.

  • In Ontario, buyers typically do not pay their agent directly.

    The commission is usually paid by the seller, out of the sale proceeds, and split between the listing agent and the buyer’s agent.
    Your cost doesn’t increase because you have representation — but your protection does.

  • • Overpaying
    You get pricing data, sold comparables, building history, neighbourhood trends, and red flags that aren’t obvious online.

    • Rushed or pressured decisions
    A good agent slows the pace, filters noise, and stops you from being pushed into offers you’re not ready for.

    • Hidden issues
    Things like Kitec, Poly-B, moisture, old panels, rushed renovations, poor reserve funds, upcoming special assessments, and problem buildings.

    • Confusing contracts
    Agreements of Purchase and Sale are legally binding. Your agent walks you through every term so you know exactly what you’re signing.

    • Missing key protections
    Conditions, timelines, disclosures, clauses, status review — the pieces that prevent expensive mistakes later.

    • Negotiation mistakes
    You’re not arguing with sellers or agents alone. Your agent handles the back-and-forth calmly, strategically, and without emotion.

    • Post-offer surprises
    If something comes up (inspection, lender issue, status concerns), you’re not navigating it alone.

    Representation isn’t about “getting inside access.”
    It’s about making sure your money, your deposit, and your future aren’t exposed.

  • Once your offer is accepted, the process shifts from emotions to logistics.
    Your lawyer, lender, and agent handle most of the work. You just need to stay reachable.

    Here’s the precise sequence:

    1. Deposit submitted + verified
    You deliver the deposit, and once it’s received into the listing brokerage’s trust account, both sides get written confirmation in the form of a deposit receipt.
    This receipt is your proof that the money is safely held in trust.

    2. Lawyers receive the full deal package
    Your agent sends the Agreement of Purchase and Sale and all supporting documents to your lawyer.
    The listing agent does the same for the seller’s lawyer.
    Both lawyers then open the file and begin their legal work.

    3. Mortgage approval finalized
    Your lender completes income verification, reviews the property, and issues final approval.
    (Some lenders also send the file to mortgage insurers for final sign-off.)

    4. Lawyer conducts the title search
    Your lawyer examines ownership history, liens, easements, taxes, and any issues tied to the property.
    They also prepare your closing documents and calculate the final amount you’ll need before closing.

    5. Title insurance arranged
    Your lawyer secures title insurance — this protects you from fraud, errors, and certain post-closing problems.

    6. Final walkthrough
    Usually 24–48 hours before closing.
    You check that the home is in the same condition, appliances work, and nothing has been removed or damaged.

    7. Closing day
    Your lender sends funds to your lawyer, your lawyer transfers them to the seller’s lawyer, and the property legally becomes yours once the transfer is registered in the land titles system.

    8. Key release
    As soon as the transfer is registered, the listing agent releases the keys.
    This usually happens mid-day to late afternoon, depending on bank and lawyer timing.

    Throughout this stage, the most important thing is staying reachable — banks and lawyers often request quick confirmations to keep the file moving.

  • You call me — always.
    You’re not abandoned after closing.

    If something leaks, breaks, or feels off, I tell you:

    • if it’s normal

    • if it’s serious

    • what to do next

    • who to call

    • whether it’s covered

    You’re not left alone with the “now what?”

  • You call me — always.
    You’re not abandoned after closing.

    If something leaks, breaks, or feels off, I tell you:

    • if it’s normal

    • if it’s serious

    • what to do next

    • who to call

    • whether it’s covered

    You’re not left alone with the “now what?”