Day 0
Complete contract to mortgage team
Condition stage
Borrower + property underwriting
Pre-closing
Conditions + lawyer instructions
Funding
Lawyer completes registration and closing
On this page
Milestone 1 — Accepted offer
Send the complete executed APS, property listing, amendments and deadline information immediately. Confirm the lawyer and mortgage professional have current contact details. If financing is conditional, every lost day reduces the time available for underwriting and appraisal.
Milestone 2 — Mortgage and property underwriting
The mortgage professional updates borrower documents, submits to the selected lender, coordinates mortgage-insurer review where applicable, and arranges valuation if required. The Realtor's highest-value contribution is fast access, accurate property facts and prompt delivery of transaction documents.
Milestone 3 — Approval and lender conditions
A lender commitment can still contain conditions. Some are routine, such as updated pay evidence or proof of down payment; others are material, such as appraisal, sale of another property, debt payout or property documentation. Do not communicate 'fully approved' to the seller side merely because a commitment exists.
With borrower consent, the mortgage professional can provide a milestone-level status that preserves confidentiality.
Milestone 4 — Mortgage instructions to the lawyer
Once the lender is ready, mortgage instructions are sent to the buyer's lawyer. The lawyer completes legal due diligence, obtains insurance/title information as required, prepares the closing statement and arranges signing and funds.
If the lawyer has not received instructions close to closing, that is a status issue worth escalating early—not a reason to assume financing failed.
Milestone 5 — Final borrower funds and closing
The buyer must provide the lawyer with any required balance of down payment, land transfer tax, legal fees and adjustments. RECO also recommends planning for closing costs and conducting meaningful pre-closing visits according to the APS.
The Realtor should confirm logistics, not move money or give legal advice. The transaction is complete when the lawyers have closed and title/funds have been handled—not when a mortgage approval email is received.
A simple status language everyone can understand
Use milestone terms rather than vague percentages. 'Submitted' does not mean approved; 'approved with conditions' does not mean all conditions are satisfied; 'lender complete' does not mean the real-estate transaction has legally closed.
- Referral received / consultation booked
- Mortgage review underway
- Submitted to lender
- Conditional lender approval
- Material conditions outstanding
- Lender conditions substantially complete
- Mortgage instructions sent to lawyer
- Lawyer/borrower closing stage
- Funded / transaction closed
Realtor + mortgage coordination
Have a client who needs a mortgage review?
Use the Realtor referral pathway for a consented introduction. Do not upload tax returns, bank statements, credit information or other borrower financial documents through the referral form.
Refer a clientFrequently asked questions
When should the lender send mortgage instructions to the lawyer?
Timing varies by lender and file. The important operational point is to monitor the milestone and escalate if instructions are still outstanding close to closing.
Does 'approved with conditions' mean the financing condition can automatically be removed?
Not necessarily. The materiality of remaining conditions matters, and the contractual decision belongs to the buyer with appropriate real-estate/legal advice.
What should a Realtor ask the mortgage broker for as closing approaches?
Ask for a consented milestone-level status: whether material lender conditions remain, whether appraisal is complete where required, and whether instructions have been sent to the lawyer.
Primary sources
Mortgage, real-estate and new-home rules can change. These resources are educational and do not replace legal advice, your brokerage policies, a lender decision or a property-specific mortgage assessment.