What does "balance due on completion" refer to?

"Balance due on completion" specifically refers to the remaining payment that is owed to the seller after any adjustments, such as deposits paid at the beginning of the transaction, have been accounted for. This concept is crucial in real estate transactions, as it represents the final amount that must be paid by the buyer to complete the purchase. Once the initial deposit is subtracted from the total selling price, along with any other necessary adjustments, the remaining balance is what the buyer needs to pay upon closing. Understanding this term is essential for both buyers and sellers to ensure that all financial aspects of a real estate transaction are correctly managed and that there are no surprises at the closing table.