For conveyancers, completion day can feel like running a relay race with one hand tied behind your back. You’re coordinating figures from multiple sources, managing shifting deadlines, and trying to keep clients calm while everything falls into place. From the stories buyers share online, there’s no shortage of anxiety around final figures turning up late, unexplained costs appearing, or completion being pushed back because a number didn’t reconcile in time.

That’s exactly why completion statements matter so much in conveyancing. They’re not just the final bill. They are the document that ensures the money is right before completion and that you can move forward without confusion or lastminute surprises, for both solicitor and client. It bolsters the relationship between lawyer and client by providing transparency to the fees that will be paid.

What is a Completion Statement in Conveyancing?

A completion statement is a financial summary prepared before completion that sets out all amounts due in a property transaction. It shows exactly what the buyer needs to pay or what the seller will receive, bringing together the purchase price, adjustments, legal fees, and disbursements in one place.

It acts as the final checkpoint to ensure all figures are accurate before funds are transferred and the transaction completes.

At a glance, a completion statement includes:

• Purchase price and deposit paid
• Mortgage funds and balance required
• Adjustments such as council tax, service charges, or ground rent
• Legal fees and VAT
• Disbursements such as searches and Land Registry fees
• Final balance payable or proceeds due to the client

Why it matters

• Confirms all financials are correct before completion
• Reduces the risk of last-minute delays or errors
• Gives clients a clear breakdown of costs
• Helps avoid post-completion queries and disputes

To achieve these outcomes, it helps to start with a clear and reliable process following the steps below:

1. Start with a clear checklist

Clients and lenders often send information at different times. Having a comprehensive, matter specific checklist means you’re less likely to miss key items like rates, levies, mortgage figures, or disbursements. This reduces lastminute fixes that turn up late the day before completion. With Smokeball’s workflow tools, you can build and track checklists at matter level so you can see what’s outstanding in real time and chase it earlier.

2. Reconcile figures regularly, not just at the end

Waiting until the moment before completion to total everything up increases risk. Regular reconciliation throughout the lead up helps catch errors early, especially when parts of the transaction are updated or delayed by banks or other conveyancers. Mistakes that might once have popped up the day before can be discovered well in advance.

3. Align with the lender and other conveyancers early

Conveyancers often wait on information from lenders or other firms in the chain. Sometimes buyers even express concern because they have not seen a completion statement days before the deadline and are stressed about unexpected costs.

Where possible, confirm figures with those parties early. If lenders have released numbers late, you can build in buffer time rather than racing to update a statement on the completion date.

4. Make adjustments obvious

Adjustments like rates, levies, service charges, arrears, or other prorated items can be hard for clients to understand at a glance. Clear, itemised adjustments reduce confusion and follow-up queries after settlement.

5. Be transparent about changes

Occasionally, costs change after initial estimates. If a client sees a figure they weren’t expecting, walk them through the change. Ignoring this or waiting until the completion day itself to explain it leads to unnecessary stress for everyone, particularly if clients start worrying about “hidden fees.” With Smokeball, you can link document automation to your matter data so updates automatically flow into statements, keeping your figures aligned with changes without manual rework.

6. Check for duplicate or missing items

Clients sometimes spot unexpected charges, such as duplicated search fees or provider costs they thought were included earlier in the process. Carefully check that each item appears once and only once, and that every expected item has been captured. With Smokeball’s Completion Statement functionality, you can ensure that each line item is accurate before generating the document; and mistakes can be amended on the go.

7. Explain key dates and required actions

Clients remember the completion date but worry when they don’t have clarity on when payments must clear. Clearly state deadlines for transfers and any actions they need to complete. This helps avoid the stress of rushed last minute transfers and clients calling hourly to ask whether everything is on track.

8. Review and sign off before circulation

Before issuing the final version, perform a disciplined review against source data like trust ledgers, lender figures, and your practice management records. This may feel like a small step, but it makes a big difference in avoiding post completion questions or clarifications.

Completion statements shouldn’t be a source of stress for you or your clients. They should be a signal that a matter is ready to finish and that everyone can move forward with confidence.

Clients talk about their worries when figures arrive late, when statements don’t land until very close to completion, or when unexpected charges show up at the last moment. Applying these tips will help you stay on top of those concerns.

Where automation can genuinely help, belongs in the workflow. Smokeball brings data, documents, and tasks together, so you spend less time hunting for numbers and more time guiding your clients with confidence. If your process still involves copying and pasting figures, manually calculating sums or chasing emails at the 11th hour, there’s room to make your day smoother and more predictable.

Frequently Asked Questions

What is a completion statement in conveyancing?

A completion statement is a document prepared before completion that sets out all financial details of a property transaction. It includes the purchase price, deposit, adjustments, legal fees, and disbursements, showing the exact amount due from or to the client.

When should a completion statement be sent?

A completion statement should be sent at least a few days before completion. This allows clients time to review the figures, raise questions, and arrange funds without delays on completion day.

Why do completion statement figures change?

Completion statement figures can change due to updated mortgage amounts, revised adjustments such as council tax or service charges, or additional disbursements. Keeping the statement updated ensures accuracy before completion.

What are common completion statement errors?

Common errors include incorrect calculations, missing or duplicated charges, outdated lender figures, and unclear adjustments. These issues can cause delays, client confusion, and additional work on completion day.

How do conveyancers ensure completion statement accuracy?

Conveyancers ensure accuracy by reconciling figures regularly, using standardised templates, checking lender information early, and completing a final review before sending the statement to clients.

How can software improve completion statements?

Conveyancing software improves completion statements by automating calculations, reducing manual data entry, and keeping financial data consistent across documents. This helps minimise errors and saves time during the lead-up to completion.

‍