Can I change my closing date after signing an agreement in Ontario?

Both the buyer and seller have to sign a written amendment to the agreement of purchase and sale. It's usually a short document: the new date, and anything that changes because of it, like adjustments for extra days of interest. Your lawyer or agent prepares it. A verbal agreement to push the date isn't enforceable on its own, so get it in writing before you rely on it.

Common reasons include a mortgage approval running behind, a chain of purchases and sales that don't quite line up, a title issue that needs more time, or a moving delay on either side. Sometimes it's requested weeks ahead, sometimes in the final days before closing.

Then the original date stands. If you can't close on it, you're in default, which can mean losing your deposit as a buyer, or facing a damages claim, as either party. See our pages on what happens if a buyer can't close or on selling a home for what that looks like from each side. Talk to your lawyer before the closing date arrives, since there's more room to negotiate before a default happens.

Bridge financing is a short-term loan covering the gap when your sale and purchase don't close on the same day, usually when your sale closes after your purchase. It's secured against the equity in the home you're selling and is normally repaid the day your sale closes. Most lenders want firm, unconditional agreements on both properties before approving one. It solves a timing gap between your two closings, but it doesn't change what date you and the other side agreed to.

Try to build in a few days of buffer between your sale and purchase closings, rather than same-day closings, which leave no room for a small delay. If you're selling first, ask about bridge financing early, since your lender needs both agreements finalized before approving it. Your lawyer coordinates timing on both files, but the actual dates still come down to what's written in each agreement.