After Completion – Buyer Receives, which item represents the buyer's entitlement?

• A. Balance of purchase price less any deposit which has been paid.
• B. The full purchase price regardless of deposits.
• C. Only the deposit paid is released to buyer.
• D. The mortgage balance is transferred to buyer.

Answer: (A)

The key idea is what the buyer is entitled to receive at completion: the remaining amount due to complete the purchase. The purchase price is paid in two parts—any deposit already paid earlier and the balance. On completion, the buyer pays the balance (purchase price less the deposit) to the seller, and the title passes to the buyer. The mortgage balance is not handed to the buyer; mortgage funds are used to settle the price with the seller or to discharge any charge, not to the buyer. So the buyer’s entitlement is the balance of the purchase price after deducting the deposit already paid.