Short answer
Ask your lawyer for the amount, payment method and deadline early. Your down payment and closing funds must be available, traceable and consistent with the mortgage approval; last-minute transfers, borrowing or unexplained deposits can delay the file.
The closing-day concern behind the question
Once an offer becomes firm, buyers often assume the difficult decisions are finished. Closing can still be affected by money movement, property condition, legal documents, lender conditions, insurance, possession and timing.
Do not wait for the scheduled closing date to discover who is responsible. Raise the concern while the Realtor, lawyer, mortgage broker and other professionals still have time to respond.
A practical Ontario example
Illustration only: A buyer expects proceeds from an investment account on closing morning. The transfer is held, while a recent family deposit has no supporting trail. The lawyer and lender need time to verify the money before it can safely fund the purchase.
The agreement and file facts control the response. Another transaction may require a different legal, lending, insurance or negotiation approach.
Need the right person involved before the deadline?
Tell Rajiv what happened, when the transaction must close and which professionals are already involved. Use the Professional Referral Concierge if you need an independent real-estate lawyer. Rajiv helps identify the right type of help; you decide whom to retain.
What to do first
- Document the issue, time and supporting evidence.
- Notify the Realtor and lawyer promptly.
- Tell Rajiv if financing, appraisal, funds, insurance, occupancy or timing may change.
- Do not sign an amendment or make a side agreement without understanding its effect.
- Keep receipts and written communication if a delay creates costs.
What the Realtor handles
The Realtor communicates with the other brokerage, gathers property information, assists with visits and negotiates under the client’s instructions. The Realtor does not decide the buyer’s legal remedy, release mortgage funds or guarantee that closing will occur.
What the lawyer handles
The lawyer advises on the agreement and closing, receives required funds, completes legal searches and documents, communicates with the other lawyer and explains available legal responses. Ask the lawyer before refusing to close, withholding money or accepting an amendment.
What Rajiv handles
Rajiv coordinates mortgage documents and lender questions, explains how a change affects approval, and explores another A, alternative, MIC or private option when appropriate. A rescue mortgage may require more equity, a higher rate, fees and a credible path back to lower-cost financing.
What the buyer still controls
The buyer controls response time, disclosure of accurate information, availability of verified funds, signing decisions and instructions to retained professionals. Keep employment, credit, down-payment sources and major debts stable until closing unless Rajiv has reviewed the change.
Facts, policy and assumptions
Verified guidance: Law Society guidance requires lawyers to obtain and record source-of-funds information for financial transactions.
Contract and law: the lawyer interprets the agreement and legal consequences. Lender policy: the lender determines funding conditions. Transaction assumption: a promise, estimate or expected time remains uncertain until the responsible party confirms it.
What can change the answer?
The agreement, amendment wording, lender instructions, property condition, title, occupancy, source of funds, insurance, closing system, professional availability and the other party’s cooperation can all change the outcome.
Pressure-test the plan
Ask what happens if closing moves to the next business day, the lender asks for one more document, the property issue is not repaired or the other side refuses the proposed solution. Calculate accommodation, moving, storage, legal, interest and mortgage costs before agreeing.
If the plan depends on an undocumented promise or money arriving at the last minute, the plan is fragile.
Possible practical responses
- Provide the missing evidence or verified funds promptly.
- Use the agreement’s existing process where applicable.
- Negotiate a written amendment, holdback or extension through legal counsel where appropriate.
- Obtain an inspection, quotation, insurance response or repair evidence.
- Explore another lending structure after comparing total cost and exit risk.
- Follow the lawyer’s advice when a legal obligation or remedy is disputed.
Questions to ask before giving instructions
- What exactly prevents completion?
- Who has authority to resolve it?
- What is the legal deadline?
- What does the solution cost today and over the mortgage term?
- Does accepting the solution waive another right?
Related AskRajiv guidance
Continue with large deposit bank transfer before mortgage closing, mortgage funds not ready closing day extension options, request the right professional.
Get a closing second opinion
If closing funds, lender conditions or timing are uncertain, use Rajiv’s direct SimplifyMortgage contact form. Include the closing date, property, lender status and exact concern. Time-sensitive files should be identified clearly.
Need another professional?
Use Rajiv’s Professional Referral Concierge to request an independent Realtor, lawyer, inspector, appraiser, accountant or insurance professional. A referral is an introduction, not a guarantee of outcome, and you remain free to choose your professional.
Source and review
Read the primary source. Source checked 2026-09-03. Reviewed by Rajiv Verma, Mortgage Broker on 2026-09-03. Educational information only; not legal advice, real-estate representation, inspection, insurance advice or mortgage approval.