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Closing Statement (ALTA)

Generate ALTA Settlement Statements in Minutes, Not Hours

8 minutes with CaseMark

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2. Upload the files you want analyzed.

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Workflow

Closing Statement (ALTA)

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Workflow

Closing Statement (ALTA)

Overview

Preparing ALTA settlement statements manually requires meticulous calculation of debits, credits, prorations, and payoffs across multiple transaction documents. Real estate attorneys and closing agents spend hours cross-referencing purchase agreements, loan documents, and tax records to ensure accurate buyer and seller summaries, risking calculation errors that can delay closings.

Preparing ALTA settlement statements manually requires meticulous calculation of debits, credits, prorations, and payoffs across multiple transaction documents. Real estate attorneys and closing agents spend hours cross-referencing purchase agreements, loan documents, and tax records to ensure accurate buyer and seller summaries, risking calculation errors that can delay closings.

CaseMark automates the entire ALTA settlement statement drafting process by extracting transaction details from your documents and generating accurate buyer and seller summaries with proper debits, credits, and calculations. Simply upload your purchase agreement and supporting documents, and receive a complete, formatted ALTA closing statement in minutes, ready for review and execution.

How it works

  1. 1. Upload your documents

  2. 2. AI analyzes and extracts key information

  3. 3. Review and customize the generated content

  4. 4. Export in your preferred format (DOCX, PDF)

What you get

  • Header with settlement and disbursement dates

  • Property address and party identification

  • Summary of Seller's Transaction (debits and credits)

  • Summary of Buyer's Transaction (debits and credits)

  • Sales price and earnest money deposit

  • Loan amount and payoff calculations

  • Proration of taxes and other adjustments

  • Closing costs breakdown

  • Cash due to seller calculation

  • Cash due from buyer calculation

  • Total debit and credit summaries

What it handles

  • Header with settlement and disbursement dates

  • Property address and party identification

  • Summary of Seller's Transaction (debits and credits)

  • Summary of Buyer's Transaction (debits and credits)

  • Sales price and earnest money deposit

  • Loan amount and payoff calculations

  • Proration of taxes and other adjustments

  • Closing costs breakdown

  • Cash due to seller calculation

  • Cash due from buyer calculation

  • Total debit and credit summaries

Required documents

  • Purchase Agreement

    Sales contract containing purchase price, earnest money deposit, and transaction terms

    .pdf, .docx

  • Loan Documents

    Mortgage or financing documents showing loan amounts and terms

    .pdf, .docx

  • Title Commitment

    Title insurance commitment with property details and encumbrances

    .pdf

Supporting documents

  • Payoff Statements

    Existing mortgage payoff amounts for seller's transaction

    .pdf, .docx

  • Tax Proration Calculations

    Property tax information for proration calculations

    .pdf, .xlsx, .docx

  • Commission Agreement

    Real estate broker commission details and payment terms

    .pdf, .docx

  • Closing Cost Estimates

    Preliminary estimates of fees, recording costs, and other closing expenses

    .pdf, .xlsx

Why teams use it

Generate complete ALTA settlement statements in 8 minutes vs. 2.5+ hours manually

Automatically calculate buyer and seller transaction summaries with accurate debits and credits

Eliminate calculation errors in prorations, payoffs, and closing cost allocations

Extract transaction details directly from purchase agreements and loan documents

Produce consistently formatted statements compliant with ALTA standards

Questions

How does CaseMark generate ALTA settlement statements?

CaseMark extracts key transaction details from your purchase agreement, loan documents, and supporting files, then automatically populates the ALTA settlement statement format with accurate buyer and seller summaries, including all debits, credits, and calculations. The system handles prorations, payoffs, and closing costs to produce a complete statement ready for review.

What documents do I need to upload to create an ALTA closing statement?

At minimum, you'll need the purchase agreement, loan documents, and title commitment. Optional documents like payoff statements, tax proration calculations, and commission agreements help CaseMark generate more complete and accurate settlement statements with all transaction details properly reflected.

Can CaseMark handle complex commercial real estate transactions?

Yes, CaseMark is designed to handle both residential and commercial real estate closings, including complex transactions with multiple loans, prorations, and adjustments. The system accurately calculates debits and credits for both buyer and seller sides, regardless of transaction complexity.

How accurate are the calculations in AI-generated settlement statements?

CaseMark uses advanced AI to extract financial data and perform calculations with high accuracy, following ALTA standards for settlement statement preparation. All generated statements should be reviewed by the closing agent or attorney, but the automation eliminates common manual calculation errors and ensures mathematical consistency.

Does the ALTA statement include both buyer and seller transaction summaries?

Yes, CaseMark generates complete ALTA settlement statements with separate transaction summaries for both buyer and seller, including all debits, credits, prorations, and cash due calculations. The output provides a comprehensive view of the entire transaction for all parties.

Can I customize the ALTA settlement statement after it's generated?

Yes, CaseMark produces editable settlement statements that you can review and modify as needed. The AI-generated draft provides a solid foundation with accurate calculations, which you can adjust for any last-minute changes or specific transaction requirements before finalization.

How much time does CaseMark save on closing statement preparation?

CaseMark reduces ALTA settlement statement preparation from 2-3 hours of manual work to approximately 8 minutes. This dramatic time savings allows closing agents and real estate attorneys to handle more transactions, reduce closing delays, and focus on client service rather than spreadsheet calculations.

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