Buying a house in Toronto is one of the biggest financial and emotional decisions you’ll ever make. Whether you’re a first-time homebuyer or moving into your second or third property, understanding the home-buying timeline helps you plan ahead and avoid costly delays.

On average, it takes 30 to 60 days from offer to closing, but the full journey can stretch across several months.

Mortgage Pre-Approval: 1 to 5 Days

Before browsing listings, you’ll want to get pre-approved for a mortgage.

This involves submitting financial documents to a lender, including pay stubs, tax returns, and credit information. Most pre-approvals can be completed in a few business days, but delays can occur if documentation is missing. Pre-approval matters. It shows sellers you’re serious and gives you a firm idea of your budget.

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Determining Your Needs: 1 to 2 Weeks

This is the planning stage, where you identify your must-haves versus nice-to-haves.

Consider what your most desired neighbourhoods are, such as those found in Etobicoke if you’re searching in the GTA. Look at other factors, such as commute times, school zones, and home size, features, and style. Be sure to work with a local real estate agent who understands your market and can help refine your criteria.

Hiring A Real Estate Agent: 1 to 3 Days

Finding the right agent can be fast, but you’ll want to interview a few to ensure a good fit.

Look for a real estate agent with experience in your target area, a clear communication style, and good reviews and references. An expert agent can speed up the search process and protect your interests during negotiations.

House-Hunting To Buy: 2 Weeks to 3 Months

This is one of the most variable stages in the process. It may take months depending on market inventory, your schedule, and your flexibility.

You could find your dream home in Etobicoke in a weekend or several months. At times when Toronto is a hot market, it may require having to make quick decisions and putting out multiple offers simultaneously. Be prepared to move fast. In slower markets, you have more time to consider options.

Making An Offer And Negotiations: 1 to 7 Days

Once you’ve found a home, your agent will help you draft a competitive offer. This lays out the price, deposit amount, and any conditions (e.g., financing, inspection).

Sellers usually respond within 24 to 72 hours. They may accept your offer, reject it, or issue a counteroffer. This back-and-forth can take a few days, depending on both parties’ availability and willingness to compromise.

Offer Acceptance to Conditional Period: 5 to 10 Business Days

Once an offer is accepted, you’ll enter the conditional period, typically lasting about a week.

This is when you finalize your mortgage, conduct a home inspection, and satisfy any other conditions, if any exist. Your offer only becomes firm once all conditions are met.

Please note that a standard home inspection takes a few hours, but booking the inspector and reviewing the report may add a day or two. Issues found can reopen negotiations or lead you to walk away. Always attend your inspection to ask questions and better understand the property.

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Mortgage Approval: 3 to 10 Business Days

Even with a pre-approval, the lender must appraise the specific property and complete due diligence. This part may involve providing updated income verification, appraisal scheduling, and a property review.

Work with your mortgage broker or bank to move things along quickly. After your financing and inspection are complete, you’ll waive the conditions. This step formalizes your offer and marks the start of the closing process.

Closing Process: Multiple Days (Varies)

The closing process can be broken down into several smaller steps. The length of each can be reduced or increased depending on how everything is progressing with the seller and buyer.

1. Deposit Transfer: Immediate to 1 Day

Most offers require an initial deposit (typically 5% of the purchase price) once conditions are waived. Your real estate agent or lawyer will guide you through transferring funds.

2. Appraisal (If Required): 2 to 5 Days

Your lender may request a property appraisal to confirm the home’s value. If the appraisal comes in lower than the purchase price, you may need to renegotiate or increase your down payment.

3. Title Search and Legal Review: 1 to 2 Weeks

Your real estate lawyer will conduct a title search, check for liens or easements, and review the agreement of purchase and sale. This legal due diligence ensures everything is in order before closing.

4. Arranging Home Insurance: 1 to 3 Days

You must secure home insurance before your lender releases funds. Shop around for the best rates and coverage, and ensure the policy activates on your closing date.

5. Final Walkthrough: 1 Day Before Closing

Usually done 24 hours before closing, a final walkthrough ensures the property is in the agreed condition. In this, you’ll confirm what (if any) appliances are included, that no new damage has occurred, and see that repairs (if agreed) were made.

Please note that, if issues are found, understandably, they may delay closing or require last-minute negotiations.

6. Closing Day: 1 Day

On closing day, your lawyer transfers funds, the mortgage is registered, and ownership officially changes hands. You’ll receive your keys once everything is finalized.

Ways To Speed Up The Time It Takes To Buy A House In Toronto

While there are no guarantees in speeding up the process of buying a house, if you come prepared and are motivated to close a sale quickly, once you find your ideal home, it should not take longer than 4-8 weeks. It may even take less.

Where delays tend to happen is if financing approval is slow, appraisals take long to complete, or if title issues arise. The best thing you and your real estate agent can do in such situations is act quickly and be responsive to issues.

Keep in mind that Toronto is extremely competitive and timelines can be shortened drastically.

As an experienced South Etobicoke real estate team, if you don’t want to miss out on the right property or simply want to be agile enough to move fast, here are the opportunities you have to potentially speed things along.

  • Get pre-approved for a mortgage early. This way, you have your number and are fully ready to make an offer.
  • Have your paperwork ready. Ensure everything is prepared on that front. Your real estate agent can assist.
  • Always work with an experienced real estate agent. They can make the home-buying process move a lot smoother.
  • Be decisive during house-hunting. If you aren’t able to give a definitive ‘yes’ or ‘no’ on a property, someone else can.
  • At all costs, avoid major financial changes during the process of home-buying to ensure nothing puts your mortgage approval at risk.

Buying a house is more than putting in an offer. It’s a multi-step process that carries a lot of potential delays, variables, and decisions that need to be made. It’s key to understand that you can only control what you can. Be adaptive and don’t hesitate to lean on our team for guidance as you navigate the buying timeline.

Are you looking to buy a home in South Etobicoke this year? Contact us at Adrian + Andrea to see what the market looks like. Reach out at info@adrianandrea.com or call (416) 319-6893 for more information.