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.
This workflow is applicable across multiple practice areas and use cases
ALTA settlement statements are essential closing documents for residential real estate transactions, documenting all financial aspects of home purchases and sales.
Residential closings require the same ALTA-compliant settlement statements as commercial transactions, with identical calculation requirements for buyer/seller debits, credits, and prorations.
Settlement statements are required for real estate-secured loan transactions to document loan proceeds, payoffs, and all financial terms at closing.
Loan and financing attorneys need accurate settlement statements for refinancing and purchase-money loans, showing loan amounts, payoff calculations, and fund disbursements.
Settlement statements serve as critical evidence in disputes over closing costs, commission allocations, proration calculations, and fund disbursements in real estate litigation.
Real estate litigators frequently analyze settlement statements to identify errors, misallocations, or fraudulent transactions, making accurate statement generation valuable for case preparation and expert analysis.
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.
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.
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.
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.
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.
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.
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.