The statement of adjustments refers to any rates, taxes, current leases or outgoings that will need to be adjusted to ensure that the seller only pays the portion up to the date of settlement and that you are only liable for the portion from this date.
If the property currently has a mortgage attached, the vendor will pay the costs to discharge the mortgage at settlement.
Your solicitor will prepare a statement of adjustments prior to settlement. The statement will specify the amount that will need to be deducted or added to the total amount due.
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