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Financial ALTA and Seller CD

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FINANCIAL ALTA AND SELLER CD

Settlement Agent / Title Company

Seller / Transaction Parties

Property and Contract Information

Property Address:

Parcel / APN:    Contract Sales Price: $

Effective Date of Contract:    Proposed Closing Date:

Settlement Statement — Seller Financial Summary

Enter all debits and credits applicable to the seller. Amounts should be stated in dollars and cents. Negative amounts should be indicated in the notes field below.

Description Seller Debit ($) Seller Credit ($)
Contract Sales Price
Earnest Money / Buyer Credits
Real Estate Commission
Payoff of Existing Loan(s)
Title and Settlement Charges (Seller)
Recording, Transfer Taxes & Fees
Prorations (Taxes, HOA, Interest)
Other Seller Charges (describe in notes)
Subtotal
Net Proceeds to Seller $

Payoff Instructions and Liens

Existing Loan Payoff Recipient:

Loan Account / Reference #:    Expected Payoff Amount: $

Payment Instructions

Accepted settlement funds: Wire transfer to settlement agent trust account, certified cashier's check, or attorney trust account as permitted by local rule. Late funds or incomplete wiring instructions may delay disbursement.

Notices, Certifications and Acknowledgements

Settlement Agent certifies, under penalty of perjury, that the closing figures shown on this Financial ALTA and Seller Closing Disclosure are a complete and accurate statement of all known charges and disbursements to be made in connection with the sale, and that all funds received and disbursed in connection with closing will be handled in accordance with applicable law and the duties of a settlement agent.

Seller acknowledges receipt of a copy of this Financial ALTA and Seller CD, and understands the amounts to be credited and debited at closing. The seller hereby authorizes the settlement agent to disburse funds in accordance with this statement, subject to final reconciliation.

Seller acknowledges receipt of this disclosure and understands the amounts shown.

Certification by Seller

The undersigned seller certifies that the information provided in this document is true and correct to the best of the seller’s knowledge and that the seller has provided full disclosure of any material facts affecting the title, liens, or condition of the property that may affect closing.

Seller Name:

By:

Date:

Settlement Agent / Title Company:

By:

Date:

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What the Financial ALTA and Seller CD Is

The Financial ALTA and Seller CD is a standardized closing disclosure used in real estate transactions to summarize financial terms, title and insurance charges, prorations, payoffs and disbursement instructions for the seller and settlement parties. It combines ALTA-related title and lender accounting details with the Seller Closing Disclosure items necessary to reconcile purchase proceeds, lien payoffs, taxes, and fees prior to recording and funding. Proper completion ensures accurate funds flow at closing, supports title insurer underwriting, and creates a documented record of the transaction for tax and regulatory purposes.

Why Accurate ALTA and Seller CD Matters

A correctly prepared Financial ALTA and Seller CD reduces closing-day delays, prevents recording or payoff errors, and documents the seller’s net proceeds. It also supports lender and title insurer underwriting, reduces post-closing disputes, and helps meet tax reporting and regulatory retention requirements.

Why Accurate ALTA and Seller CD Matters

Primary Users and Parties Involved

Typical participants who prepare, review, or receive the Financial ALTA and Seller CD.

  • Settlement Agents and Title Officers — prepare the ALTA and Seller CD, reconcile payoffs, and coordinate recording and disbursement.
  • Sellers and Sellers' Counsel — review proceeds, tax withholdings, and lien payoff amounts prior to signing.
  • Lenders and Loan Servicers — confirm payoffs, lien releases, and any lender-specific disbursement instructions.

Roles vary by transaction size and jurisdiction; coordination among title, lender, and counsel reduces risk of post-closing adjustments.

Core Components to Include

A professional Financial ALTA and Seller CD presents sections in a consistent order so parties can verify figures and supporting documents quickly.

Transaction Summary

Property address, legal description, file/escrow number, and parties to the transaction so the CD ties to the title file and closing package.

Settlement Charges

Itemized title, escrow, recording, transfer, brokerage and miscellaneous fees matching invoices and title commitments for clear reconciliation.

Prorations & Adjustments

Property taxes, HOA dues, rents, and other prorations calculated to the contract closing date with line-item math and references.

Loan Payoffs

Seller mortgage payoffs, judgment liens, and tax liens with payoff statements and instructions for lien release and fax or wire routing.

Title Insurance Details

ALTA endorsement selections, policy premium, and underwriting notes required by the title insurer recorded in the closing file.

Net Proceeds & Disbursement

Final seller net amount, wire or check instructions, and any escrow holdbacks clearly stated for funding and settlement.

Essential Data Fields at a Glance

Transaction ID: Escrow or file number
Property: Street address
Buyer Name: Full legal name
Seller Name: Full legal name
Loan Amounts: Current payoff totals
Closing Date: MM/DD/YYYY

Step-by-Step: Preparing the Financial ALTA and Seller CD

Follow a consistent sequence to compile records, verify numbers, and obtain signatures to avoid last-minute corrections.

  • 01
    Collect Documents: Gather title commitment, payoff statements, invoices, and contract.
  • 02
    Populate Fields: Enter names, amounts, prorations, and disbursement info.
  • 03
    Review with Parties: Send to seller, lender, and counsel for verification.
  • 04
    Sign and Notarize: Obtain required signatures and notary acknowledgements.

Where the Completed Form Goes Next

After finalization, route copies to key stakeholders and the recording authority according to transaction instructions.

  • Title Company File: Store final CD in the title escrow folder.
  • Seller and Buyer: Provide signed copies to both parties.
  • Lender / Loan Servicer: Send payoff confirmation and disbursement instructions.
  • County Recorder: Record deed and release liens per local rules.

Typical Online Workflow Settings

Configure digital workflows to capture signatures, store audit trails, and conditionally require notary steps.

Field Configuration
Signature Field Required, date stamp enabled
Notary Block Conditional; show if jurisdiction requires
Attachments Require payoff statements before signing
Audit Trail Capture IP, timestamp, and actions

Technical Considerations for eSubmission and Signing

Ensure the platform supports secure signatures, file formats, integrations, and compliance needs for closings.

  • File Types: PDF and DOCX supported
  • Integrations: CRM and cloud storage connectors
  • Authentication: Email, SMS, or advanced methods

Use an eSignature provider that produces a verifiable audit trail, supports common integrations (CRM, cloud storage), and can meet industry compliance such as HIPAA or 21 CFR Part 11 when required.

Common eSignature Pricing and Feature Snapshot

Pricing and feature availability vary by vendor and plan; signNow’s entry-level pricing and envelope policy are shown first for comparison.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes (Business Premium) Varies Varies Varies Varies
Audit Trail Yes Yes Yes Yes Yes
Envelope Cap No cap 100 envelopes/user/year Varies Varies Varies

Deadlines and Timing to Keep in Mind

Several deadlines affect delivery, tax reporting, and consummation; build timelines that account for lender, tax and recording requirements.

Closing Disclosure Timing:

Provide buyer CD at least 3 business days before consummation

W-9 Provision:

W-9 must be provided to the payer upon request

1099 Filing:

1099-NEC to recipient and IRS by Jan 31

Recording:

Record deed promptly after funding per local recorder rules

I-9 Retention:

Retain employment verification per federal rule when applicable

Key Transaction Milestones

Sequence the main milestones from document preparation through recording to manage participant expectations and funding.

01

Draft and Reconcile

Prepare the ALTA and Seller CD and reconcile payoffs and invoices before review

02

Send for Review

Deliver draft to seller, lender, and counsel for corrections

03

Execute and Notarize

Collect signatures and any required notarizations or witness attestations

04

Record and Disburse

Record deed, obtain release documents, and disburse seller proceeds

Common Preparation Errors to Avoid

  • Using an incorrect legal property description can block recording and require re-issuance of the deed which delays funding.
  • Failing to attach verified payoff statements often causes lenders to refuse funding or require last-minute adjustments and wire changes.
  • Mismatched signer names between ID, deed, and closing documents can prevent notarization or lead banks to reject wire requests.
  • Omitting itemized prorations or double-counting fees results in incorrect seller net proceeds and post-closing reconciliation disputes.

Consequences of Errors or Omissions

Recording Delay: Title and funding risk
Tax Reporting Penalty: IRS fines for incorrect forms
Wire Rejection: Bank delays or returned funds
Title Policy Risk: Underwriting exceptions or coverage issues
Notary Defect: Document invalidation risk
Liability Claims: Potential seller or buyer claims

Real-World Examples of eSigned Closing Workflows

These examples show how organizations used digital workflows to reduce manual steps and document turnaround in closings.

Tim Martin — Martin Properties

Tim Martin used online signing to execute remote closings and coordinate title charges quickly

  • Reduced in-person coordination by consolidating documents
  • The approach allowed efficient mobile signing, consistent audit trails, and fewer post-closing adjustments for routine residential sales.

Dan Rotelli — BIS

BIS standardized closing packets for recurring seller transactions using electronic workflows

  • Centralized templates improved consistency
  • Standardization cut review time, improved compliance documentation, and simplified audit responses for large-volume transactions.

Who Signs and Who Authorizes

Seller — Authorized Signer

A seller or authorized signatory for an entity executes the seller section and any deed documents; signatory capacity and supporting corporate resolutions or powers of attorney should be attached to the file.

Settlement Agent — Title Officer

The settlement agent prepares the ALTA and Seller CD, reconciles payoffs, coordinates notarization and recording, and is responsible for distributing funds per the disbursement instructions.

Frequently Asked Questions and Troubleshooting

Answers to common questions about preparing, signing, and submitting the Financial ALTA and Seller CD, including eSignature and notarization concerns.


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