Purchase transaction checklist
1. At intake (on Agreement of Purchase and Sale receipt)
Confirm closing date and diarize in your deadline system
Identify all conditions (financing, inspection, status certificate) and their expiry dates — diarize immediately
Identify any unusual clauses that require attention (assignment, schedule items, chattels lists)
Confirm client identity and run AML client identification procedures
Run conflict of interest check
Send engagement letter — confirm scope includes title insurance, HST if applicable, mortgage advice
Collect retainer deposit to trust and issue trust receipt
Request signed FINTRAC client identification forms if applicable
2. Pre-closing (2–3 weeks before closing)
Order title search through Teraview / Titleplus — review for liens, executions, easements, restrictions
Order tax certificate confirming no outstanding property taxes
Order execution search against all registered owners
Confirm all conditions have been waived or satisfied in writing
Request mortgage instructions from lender (if acting for lender too)
Request status certificate if purchasing a condo — review financial statements, reserve fund, special assessments
Order survey or confirm title insurance covers survey risks
Confirm HST applicability — new construction purchase or assignment?
Review any existing tenancies and confirm vacant possession requirements
3. Signing appointment (3–5 days before closing)
Prepare Transfer/Deed of Land (Form 1) for electronic registration
Prepare Charge/Mortgage of Land if applicable
Prepare Direction re Funds confirming wire transfer details to vendor or vendor's counsel
Prepare Statement of Adjustments — confirm calculations with client
Prepare Land Transfer Tax calculation — include municipal LTT if Toronto
First-time home buyer rebate if applicable — confirm eligibility
Review title insurance commitment and confirm coverage
Client signing appointment — review all documents, confirm all information
Collect client balance to close — confirm trust account has full funds before closing day
4. Closing day
Confirm mortgage funds received from lender in trust account
Confirm client balance to close is in trust
Confirm trust account total matches funds required for closing
Receive signed Transfer/Deed and Charge documents from vendor's counsel
Register Transfer and Mortgage electronically via Teraview
Confirm registration numbers match what was submitted
Wire purchase funds to vendor's trust account (get confirmation of receipt)
Issue keys/access to client only after registration confirmed
Issue title insurance policy and send to client
5. Post-closing
Prepare reporting letter to client — registered Transfer document, title insurance certificate, key dates
Prepare reporting letter to lender — mortgage registration confirmed
Invoice client for professional fees
Transfer earned fees from trust to general after invoicing
Return any unused trust balance to client
File with LTT — confirm payment receipts
Save final file documents — deed, mortgage, title insurance, correspondence
Diarize any post-closing undertakings or conditions
Trust account requirements for real estate closings
Real estate transactions involve some of the largest single trust receipts and disbursements in legal practice. Common trust accounting mistakes on closings:
✗ Trust shortfall on closing day
Fix: Confirm the full balance to close is in trust before you go near Teraview on closing day. A trust shortfall that delays registration is a LAWPRO claim.
✗ Disbursing before funds clear
Fix: Wire transfers can be recalled. Do not release purchase funds to the vendor until you have confirmed receipt from your bank — not just the bank's email confirmation.
✗ Mortgage payout out of trust
Fix: If you are paying out an existing mortgage, the payout must come from trust. The payout amount must be confirmed from the lender in writing before closing.
✗ Not invoicing before transferring fees
Fix: You cannot transfer your professional fees from trust to general without an invoice — even on closing day. Prepare the invoice, then make the trust-to-general transfer.
How Atticus supports Ontario real estate practice
RE matter templates
Pre-populated action item checklists for residential purchase and residential sale transactions. Every step of the workflow, in order.
Document processing
Upload the APS, mortgage instructions, status certificate, and title search — Atticus extracts all key dates, conditions, and parties automatically.
Trust account tracking
Records every trust receipt and disbursement with client, matter, date, and reference. Alerts on negative balances before they become LAWPRO claims.
Daily briefing
Conditions expiring tomorrow appear in your 9am briefing before you've had your coffee. No condition expires unnoticed.
AI-drafted reporting letters
After closing, Atticus drafts your client and lender reporting letters from your matter record. Review, approve, send.
Limitation period calculator
Agreement of Purchase and Sale signed today — when do the conditions expire? When does the two-year limitation period run? One click.
Built for Ontario real estate lawyers
Atticus includes matter templates, AI document processing, trust accounting, and daily deadline briefings designed for high-volume Ontario real estate practice. 14-day free trial.