The buyer’s conveyancing solicitor should arrange for a financial statement to be sent to his client stating the total sum due from him on completion and a brief explanation as to how this was calculated. In addition to these matters, the statement should also include other issues that are pertinent to the transaction. These include;
a) The mortgage money advanced and any cost or retention made in respect of this.
c) The conveyancing solicitor’s cost.
This statement should be sent along with the completion statement and the conveyancing solicitor’s bill before completion so that he can arrange for the required funds before the completion.
Photo courtesy: Brian Clift