Buying a home in BC: what happens after an accepted offer?
A step-by-step overview of the closing process after your offer is accepted.
From accepted offer to a firm deal
An accepted offer usually still has subjects (conditions) such as financing, inspection, and review of strata documents. During this window you confirm your mortgage, line up home insurance, and, for a strata, read the Form B and strata records. The deal becomes firm once those subjects are removed.
It is wise to choose your closing provider around this point, especially if your timeline is tight, because the legal work starts soon after the deal is firm and good providers book up.
Engaging your lawyer or notary
Once subjects are removed, your provider receives the contract and your lender's instructions. They open the file, order title searches and tax information, prepare your mortgage and transfer documents, and calculate the funds you will need on completion, including Property Transfer Tax.
This is the stage where accurate intake pays off. The more your provider knows about the property, lender, timing, and any complexity, the fewer surprises appear in the final days.
The signing appointment and your closing funds
A few days before completion you sign your documents, in person or remotely where available, and bring government-issued ID. You also provide your closing funds, usually by bank draft or wire, covering the down payment balance, taxes, and the provider's fees and disbursements.
Your provider gives you a statement of adjustments showing exactly what you owe and why, including prorated property taxes and any strata fees.
Completion, adjustment, and possession days
On the completion date your provider registers the transfer and mortgage at the Land Title Office and exchanges funds with the seller's side. The adjustment date sets who pays for what around closing, and the possession date is when you actually get the keys, often the following day.
After completion, your provider confirms registration and reports to you and your lender. Setlume helps with comparison and intake only; your chosen provider is responsible for these professional steps.
Quick checklist
- Accepted offer and current subject-removal status.
- Completion, adjustment, and possession dates.
- Lender name and mortgage approval status.
- Property type, including whether it is strata.
- Government ID and closing funds ready before signing.
- Preferred signing method and communication style.
Common questions
How soon should I choose a closing provider?
Many buyers engage one as soon as the deal looks firm and the timeline is known. Tight closings can limit which providers are available.
What funds do I bring to completion?
Typically the balance of your down payment, Property Transfer Tax and any GST, plus the provider's fees and disbursements, usually by bank draft or wire. Your statement of adjustments sets the exact figure.
Does Setlume replace my realtor, lender, lawyer, or notary?
No. Setlume helps with comparison and intake support only. Your chosen provider remains responsible for their professional services.
Setlume provides comparison and intake support only. It does not provide legal advice.
Keep reading
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