Does the purchase price on the statement of adjustments always match the sale price in the APS?

The purchase price shown on the statement of adjustments should match the agreed sale price in the agreement of purchase and sale. There should be no variation between the two. If they differ, that is a significant error to catch and correct before closing.

However, in certain transactions, there may be legitimate reasons for adjustments to the effective amount changing hands, even though the stated purchase price on the statement remains the contract amount. For example, if the parties have negotiated closing cost credits — where the seller agrees to pay certain buyer closing costs as a concession — those show up as additional credits to the buyer on the statement rather than as a reduction in the purchase price itself.

Purchase price amendments are sometimes done through formal amendments to the APS — for example, if a significant inspection deficiency is found and the parties agree to reduce the price. In that case, the amended agreement governs and the statement of adjustments should reflect the reduced price. Any discrepancy between the APS price and the statement of adjustments is something your lawyer must resolve with the seller's lawyer before closing. This kind of inconsistency can create issues with lenders, land transfer tax calculations, and registration.