Description

The Statement of Adjustments sets out the financial details of the property sale as they are to be dealt with at settlement.

Typically, the Statement of Adjustments will state the full sale price of the property, the amount of deposit paid, and the balance due to be paid to the vendor at settlement, plus or minus amounts payable (or reimbursed) by one party to the other.

This article provides an in-depth explanation of the concepts behind the Statement of Adjustments, explains why some items are adjusted while others are not, and describes the way in which the details of the typical Statement of Adjustments are worked out.