Can you buy a home on your own then add a spouse to the title & mortgage before closing?

Jul 14th, 2021 3:03 pm

#1

CanadaCool [OP]: Sr. Member; Dec 8, 2013; 635 posts; 862 upvotes

Jul 14th, 2021 3:03 pm

Can you buy a home on your own then add a spouse to the title & mortgage before closing?

Can you make an offer on a home with your name alone, and once accepted and deposit is paid, add a spouse to the offer/title/mortgage before taking possession as if they were on the agreement of purchase and sale? This is for Ontario.

Jul 14th, 2021 3:42 pm

#2

RichmondCA: Deal Addict; Mar 2, 2017; 3509 posts; 6817 upvotes; Toronto/Markham

Jul 14th, 2021 3:42 pm

Yes

RE Broker

Jul 14th, 2021 11:26 pm

#3

CanadaCool [OP]: Sr. Member; Dec 8, 2013; 635 posts; 862 upvotes

Jul 14th, 2021 11:26 pm

RichmondCA wrote: ↑Yes

Thanks. And would that be handled by the lawyer or mortgage broker? Are there any conditions (eg. seller having to agree to this change on APS)?

Jul 15th, 2021 3:22 pm

#4

onebuddy: Member; Aug 19, 2013; 432 posts; 380 upvotes; Etobicoke

Jul 15th, 2021 3:22 pm

CanadaCool wrote: ↑ Thanks. And would that be handled by the lawyer or mortgage broker? Are there any conditions (eg. seller having to agree to this change on APS)?

Add your wife to mortgage application (through bank or broker) and title will be done by lawyer. No need to involve seller.

Jul 17th, 2021 12:21 pm

#5

NoamChimsky: Member; Aug 19, 2015; 277 posts; 313 upvotes; San Diego, CA

Jul 17th, 2021 12:21 pm

I did this. Likely you'll need the spouse on the bank documents anyway. Three banks I spoke to wouldn't allow my name alone on the title.

Jul 18th, 2021 4:58 pm

#6

jamesA: Newbie; May 25, 2010; 66 posts; 9 upvotes

Jul 18th, 2021 4:58 pm

We did this with 3 of our investment properties. We reached out to the builders office to have these changes made. We were charged for making the change on the 1st property as they were in the process of finalizing interim occupancy. The other two investment properties are still a couple of years away from completion so it wasn't an issue and they happily made the change with no charge even though in the purchase and sale agreements there is typically a set fee for amendments