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Document Description
Completion Statement for the Seller In property transactions, a Completion Statement for the seller is crucial as it details the financial aspects linked to the property's sale. This statement offers a thorough overview of the total amounts owed to the seller on the completion day, encompassing the sale price as well as any deductions for fees or costs associated with the transaction.
The Completion Statement is important because it serves as a clear financial record. It guarantees that the seller comprehends the total amount of money they will receive after all adjustments, including outstanding mortgage payments, estate agency fees, and legal costs, have been taken into account. It is essential that there be transparency in order to avert disagreements and guarantee that both parties share a mutual comprehension of the financial.
How To Use This Document?
1. Fill in the property type, property address, seller’s name, buyer’s name, and contractual completion date.
2. Enter the financial details, including the sale price and all applicable fees such as conveyancing, estate agency, mortgage discharge, and other costs. Ensure all amounts are entered in the correct currency.
3. Calculate the balance due by subtracting the total fees from the sale price. Double-check all calculations for accuracy.
4. Provide payment instructions, including the bank details where the balance will be transferred. Ensure the account information is correct to avoid delays.
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