Sample 1: Statement of Adjustments – Purchaser
Property Address: 456 Prairie Avenue, Calgary, Alberta
Closing Date: June 30, 2025
Purchaser: Sarah Thompson
Vendor: Michael and Emily Grant
Statement of Adjustments
| Item | Debit (To Purchaser) | Credit (To Purchaser) |
|---|---|---|
| Purchase Price | $500,000.00 | |
| Deposit (paid with offer) | $20,000.00 | |
| Property Taxes (annual total: $3,600.00)* | $1,800.00 | |
| Credit for Seller’s pre-paid property taxes* | $1,800.00 | |
| Legal Fees & Disbursements (estimate) | $1,200.00 | |
| Title Insurance (optional, added by lawyer) | $325.00 |
Balance Due to Close
Subtotal (after deposit and adjustments): $480,000.00
Less: Mortgage Advance from Lender: $400,000.00
Less: Net Deposit Held in Trust: $20,000.00
Total Funds Required From Purchaser (via certified cheque or bank draft):
$60,000.00
Notes:
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Property tax adjustment is based on the seller having paid a full year’s taxes in advance. Buyer reimburses for their portion from July 1–Dec 31.
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Alberta has no land transfer tax, but small registration fees (approximately $150–$250) will be handled by the lawyer and included in disbursements.
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Mortgage funds are typically sent directly to the buyer’s lawyer in trust on the day of closing.
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Title insurance is often required by lenders and can be purchased for the owner as well.
Sample 2: Statement of Adjustments and Trust Summary (Alberta)
Scenario: Sarah Thompson is selling her current home and purchasing a new one on the same day.
1. Sale of Current Property
Property Sold: 123 Oak Crescent, Calgary, AB
Closing Date: June 30, 2025
Seller: Sarah Thompson
Buyer: Jason & Kelly Martin
Statement of Adjustments – Sale
| Item | Debit (To Buyer) | Credit (To Seller) |
|---|---|---|
| Purchase Price | $450,000.00 | |
| Property Taxes (2025 annual = $3,000.00) | $1,500.00 | |
| Property Taxes (buyer share July–Dec) | $1,500.00 |
Total Due to Seller: $448,500.00
Trust Ledger – Sale
| Item | Amount |
|---|---|
| Gross Sale Proceeds | $450,000.00 |
| Less: Real Estate Commissions (5%) | ($22,500.00) |
| Less: Legal Fees & Disbursements | ($1,300.00) |
| Less: Mortgage Payout | ($210,000.00) |
| Net Proceeds to Seller | $216,200.00 |
2. Purchase of New Property
Property Purchased: 456 Prairie Avenue, Calgary, AB
Closing Date: June 30, 2025
Purchaser: Sarah Thompson
Seller: Michael and Emily Grant
Statement of Adjustments – Purchase
| Item | Debit (To Purchaser) | Credit (To Purchaser) |
|---|---|---|
| Purchase Price | $600,000.00 | |
| Deposit Paid with Offer | $25,000.00 | |
| Property Taxes (2025: $3,600.00 annually) | $1,800.00 | |
| Seller Prepaid Taxes (Jan–June) | $1,800.00 |
Balance Due on Closing: $575,000.00
Trust Ledger – Purchase
| Item | Amount |
|---|---|
| Purchase Price | $600,000.00 |
| Less: Deposit Already Paid | ($25,000.00) |
| Less: New Mortgage Advance | ($400,000.00) |
| Less: Net Proceeds From Sale (used here) | ($175,000.00) |
| Legal Fees & Disbursements (Purchase Side) | ($1,200.00) |
| Title Insurance (Lender + Optional Owner) | ($350.00) |
| Balance Remaining Owed by Purchaser | $0.00 |
Summary
Sarah Thompson sold her home for $450,000, paid out her mortgage and costs, and used the net proceeds of $216,200 toward the purchase of a $600,000 home. With a $400,000 mortgage on the new property and a $25,000 deposit already in trust, she covered the remainder of her purchase without needing additional cash on closing.
Sample 3: Statement of Adjustments and Trust Summary (Alberta)
Scenario: John and Maria Lee are selling their current home and purchasing a new one.
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The purchase closes June 25, 2025
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The sale closes June 30, 2025
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They require a bridge loan to access the equity from their sale before the sale completes.
1. Sale of Current Property
Property Sold: 22 Birch Way, Edmonton, AB
Closing Date: June 30, 2025
Sellers: John and Maria Lee
Buyers: Ryan & Aisha Patel
Statement of Adjustments – Sale
| Item | Debit (To Buyer) | Credit (To Seller) |
|---|---|---|
| Purchase Price | $500,000.00 | |
| Property Taxes (2025 annual = $4,000.00) | $2,000.00 | |
| Buyer Share of Taxes (July–Dec) | $2,000.00 |
Total Due to Seller: $498,000.00
Trust Ledger – Sale
| Item | Amount |
|---|---|
| Gross Sale Proceeds | $500,000.00 |
| Less: Real Estate Commissions (4%) | ($20,000.00) |
| Less: Legal Fees & Disbursements | ($1,250.00) |
| Less: Mortgage Payout | ($260,000.00) |
| Net Proceeds to Seller | $218,750.00 |
2. Purchase of New Property
Property Purchased: 99 Aspen Drive, Edmonton, AB
Closing Date: June 25, 2025
Purchasers: John and Maria Lee
Sellers: William and Nora Clarke
Statement of Adjustments – Purchase
| Item | Debit (To Purchaser) | Credit (To Purchaser) |
|---|---|---|
| Purchase Price | $650,000.00 | |
| Deposit Paid | $25,000.00 | |
| Property Taxes (2025: $5,200.00) | $1,300.00 | |
| Seller’s Share of Prepaid Taxes (Jan–June) | $2,600.00 |
Balance Due on Closing: $623,700.00
Trust Ledger – Purchase (with Bridge Loan)
| Item | Amount |
|---|---|
| Purchase Price | $650,000.00 |
| Less: Deposit Already Paid | ($25,000.00) |
| Less: New Mortgage Advance | ($400,000.00) |
| Less: Bridge Loan (from equity in sold home) | ($200,000.00) |
| Legal Fees & Disbursements (Purchase Side) | ($1,350.00) |
| Title Insurance | ($350.00) |
| Bridge Loan Setup Fee (from lender) | ($500.00) |
| Balance Remaining Owed by Purchasers | $0.00 |
Bridge Loan Details
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Amount Borrowed: $200,000.00
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Secured Against: Equity in 22 Birch Way (sale property)
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Term: 5 business days
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Interest Rate: 6.5% (paid separately or included in payout)
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Fee: $500 setup, interest added to lawyer’s trust statement or paid directly to lender
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Repaid from sale proceeds on June 30
Summary
John and Maria used a bridge loan to “unlock” $200,000 in equity from their sold home before the funds were available. The bridge loan allowed them to close on their new $650,000 home five days earlier. On June 30, their sale completed, the bridge loan was repaid from the proceeds, and any remaining funds (about $18,750) were forwarded to them.