Learning Objectives
– Discuss what information is required to complete the conveyancing documents, including the statements of adjustments, for a seller and a buyer
– Describe generally what steps are taken between signing the contract of purchase and sale and completion
– Describe the usual procedures and documents that lawyers or notaries use to complete the transaction set out in the contract of purchase and sale
– Correctly calculate adjustments for various items including mortgages, property taxes and rent
– Correctly designate items appearing on statements of adjustments as either debits or credits
– Prepare a seller’s and buyer’s statement of adjustments
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