Completion Statement: What is the main purpose of sending this document to clients in a property purchase?

• A. To set the completion date
• B. To provide a full financial breakdown and request balance to be paid in good time before completion
• C. To register the transfer
• D. To confirm title details

Answer: (B)

The main idea is to ensure clients know exactly what funds are required to complete and when to pay them. A completion statement provides a full financial breakdown—the purchase price, any deposits already paid, adjustments for outgoings or credits, and all fees and disbursements—together with the balance that still needs to be paid before completion. This helps the client fund the transaction in good time, reducing the risk of last‑minute shortfalls or delays on the completion date.

The other options don’t fit because:

• The document isn’t used to set the completion date; that date is typically fixed in the contract.

• It isn’t the step that registers the transfer with the Land Registry; registration happens after completion.

• It doesn’t confirm title details; title information is provided separately from title deeds and searches.