The ALTA/CD: Decoding Your Closing Day Master Sheet

You've made it. After months of house hunting, negotiations, inspections, and what probably felt like a million emails, you're finally approaching the finish line: closing day. But before you get those keys in hand, there's one document that deserves your full attention, the ALTA/CD.

Think of it as the master receipt for your entire real estate transaction. Every single dollar that moves between parties is accounted for right here. And while it might look intimidating at first glance, understanding this document is easier than you think. Let's break it down together.

What Exactly Is a ALTA/CD?

The ALTA/CD, sometimes called a closing disclosure or, if you've been in the game a while, a HUD-1, is the comprehensive financial summary of your real estate transaction. It's the document that answers the big question everyone has at closing: Where is all the money going?

This isn't just a formality. The ALTA/CD lists every charge and credit for both the buyer and the seller. We're talking:

• The contract sales price
• Your loan amount, terms, and interest rate
• Earnest money deposits you've already made
• Any seller concessions or credits negotiated during the deal
• Closing costs (and there are plenty of those)
• Prorated taxes and HOA fees

In 2015, the ALTA/CD evolved into what we now call the Closing Disclosure , a streamlined, five-page document that lenders must provide at least three business days before your closing. This gives you time to review everything, ask questions, and make sure the numbers match what you expected.

Why the ALTA/CD Actually Matters

Here's the thing: real estate transactions involve a lot of moving pieces and a lot of money changing hands. Without a detailed accounting of every dollar, things could get messy fast. The ALTA/CD exists to create transparency and protect everyone involved.

For buyers , it shows exactly how much you need to bring to closing (after factoring in your earnest money and any credits). No surprises, just clarity.

For sellers , it reveals your net proceeds after the mortgage payoff, agent commissions, and all those closing expenses are deducted.

For everyone , it's a legally binding record of the transaction. Years down the road, if questions arise about what was paid or who received what, this document has the answers.

What You'll Find on the Statement

Let's get specific. Your ALTA/CD is organized into clearly defined sections, and it uses a debit and credit format with separate columns for buyer and seller. Here's a quick rundown of what you'll see:

Property and Transaction Info:

• Property address
• Names of all parties (buyer, seller, lender, title company)
• Settlement date and disbursement date

Loan Details:

• Principal amount
• Interest rate
• Monthly payment breakdown

Closing Costs and Fees:

• Lender fees (origination, underwriting, discount points)
• Title insurance premiums
• Appraisal and inspection fees
• Real estate agent commissions
• Escrow reserves for taxes and insurance
• Deed preparation and recording fees
• Transfer taxes

Prorated Items:

• Property taxes split between buyer and seller based on closing date
• HOA dues (if applicable)

The Bottom Line:

• Total amount due from the buyer
• Net proceeds to the seller

Before closing day, take the time to review every line item. Compare it to your Loan Estimate and flag anything that doesn't look right. This is your money, you deserve to know exactly where it's going.

The Closing Process: What Actually Happens?

Alright, let's talk about what goes down when you actually show up on closing day. If you've never been through this before, it can feel a little mysterious. But don't worry, it's not as complicated as it seems.

The Signing Marathon

Here's the honest truth: closing involves a lot of signatures. Like, a lot. You'll be signing loan documents, disclosures, affidavits, and of course, the ALTA/CD itself. Plan for the process to take anywhere from 30 minutes to an hour (sometimes longer for more complex transactions).

A few tips to make it smoother:

• Bring valid photo ID. This is non-negotiable.
• Bring a certified or cashier's check for your closing costs (your title company will tell you the exact amount in advance). Some closings allow wire transfers, but always verify wiring instructions directly with your title company to avoid fraud.
• Ask questions. If something doesn't make sense, speak up. This is your transaction.

The Handoff

Once all the documents are signed and the funds are verified, the magic happens. The deed gets recorded with the county, and ownership officially transfers. Then comes the best part: you get the keys.

For sellers, this is when your proceeds are disbursed, either via wire transfer or check, depending on your preference.

The Role of the Title Agency: Why We're in the Room

Here's where American National Land Transfer comes in. As your title company, our job is to make sure everything goes smoothly behind the scenes so you can focus on the exciting stuff (like planning your move).

We Ensure the Numbers Are Right

Before closing, we meticulously review every line item on the ALTA/CD. We coordinate with lenders, real estate agents, and attorneys to verify that all figures, from title insurance premiums to recording fees, are accurate. Nobody wants a last-minute surprise at the closing table.

We Make Sure the Money Goes Where It's Supposed To

This is critical. At closing, significant sums of money are moving between multiple parties. We manage the escrow account and ensure that:

• The seller's mortgage gets paid off
• Agent commissions are distributed
• Recording fees and transfer taxes are sent to the appropriate government offices
• You receive your keys (or your proceeds)

Our settlement services are designed to handle these complexities so you don't have to stress about them.

We Protect Your Investment

Title insurance is a key part of every transaction. It protects you (and your lender) against any title defects that could surface after closing, things like unknown liens, ownership disputes, or recording errors. If you're curious about costs, check out our title insurance rate calculator to get a quick estimate for PA and NJ properties.

Closing in Pennsylvania vs. New Jersey: What's Different?

If you're buying or selling in PA or NJ, you might be wondering if there are any state-specific quirks to be aware of. The answer is yes: but nothing too dramatic.

In Pennsylvania:

• Transfer taxes are typically split between buyer and seller (though this is negotiable)
• PA title insurance rates are regulated by the state, so costs are consistent across providers
• Closings can be conducted by title companies, attorneys, or lenders

In New Jersey:

• NJ has its own set of transfer taxes, including the "mansion tax" for higher-priced properties
• NJ title insurance rates are also regulated, ensuring fair pricing
• Attorney involvement is more common at NJ closings

Regardless of which state you're in, our team at American National Land Transfer handles closings throughout both PA and NJ, and we're well-versed in the specific requirements of each.

Your Closing Day Checklist

As you prepare for the big day, here's a quick checklist to keep you organized:

• Review your Closing Disclosure at least 3 days before closing
• Compare it to your original Loan Estimate
• Confirm the exact amount you need to bring (and in what form)
• Verify wiring instructions directly with your title company
• Bring a valid photo ID
• Bring any additional documents requested by your lender or title company
• Take a deep breath: you've got this

Ready to Close with Confidence?

The ALTA/CD might look like a wall of numbers, but now you know what you're looking at. Every line item has a purpose, and every dollar is accounted for. When you work with a trusted title company like American National Land Transfer, you can walk into closing knowing the details have been handled.

Have questions about your upcoming closing? Want to estimate your closing costs using our PA and NJ title insurance calculator ? We're here to help. Reach out to our team and let's make your closing day as smooth as possible.