It is common in Agreements of Purchase and Sale to provide that the balance of the purchase price be paid on closing "subject to the usual adjustments". Usually adjusted items include property taxes, fuel oil and in the case of Condominiums, common expenses. The Statement of Adjustments is usually prepared by the Vendor's lawyer and contains various minor adjustments to the balance payable on closing. Your lawyer will approve and advise you with respect to the Statement of Adjustments which is designed to ensure that all on-going expenses are paid by the Vendor up to the closing date so that you, the Purchaser, are liable for expenses only from the closing date forward. After closing, your lawyer will give you a report on title to the property along with a Statement of Adjustments.