What Is an ALTA Settlement Statement?

An ALTA Settlement Statement is the line-item closing statement your Florida title company prepares for every real estate closing — buyer and seller each get one, and it shows every dollar in and out of the transaction. On 30A and across Walton County, it is the document you actually want to read before signing, because every fee, proration, and credit lives on it. Here is exactly what an ALTA statement is, how it differs from the lender’s Closing Disclosure, and how to read yours line by line.

What ALTA actually stands for

ALTA is the American Land Title Association, the national trade group that sets the standard form. Title companies adopted the ALTA Settlement Statement after the 2015 TRID rule changes so that buyers, sellers, lenders, and agents would all see the same numbers in the same format on every closing. At AquaRK, we issue the ALTA statement on every Florida purchase, refinance, and cash closing — financed or not.

ALTA Settlement Statement vs the lender’s Closing Disclosure

On a financed Florida purchase you actually get two related documents:

• The Closing Disclosure (CD) — a federally mandated five-page form from the lender, delivered at least three business days before signing under TRID. It shows the loan terms and the borrower side of the closing.
• The ALTA Settlement Statement — the title company’s line-item statement that reconciles every penny on the file: title fees, taxes, payoffs, prorations, commissions, HOA estoppels, recording fees, and the final cash-to-close.

The two documents must match on the buyer’s bottom line. AquaRK reconciles them before the CD goes out so there are no surprises at the table. On a cash 30A closing there is no CD — only the ALTA statement — and we typically deliver it to the buyer two to three business days before signing.

How an ALTA Settlement Statement is organized

Every ALTA statement has the same sections. From top to bottom you will see:

• Sales price and deposits — purchase price, earnest money already in escrow, any additional deposits.
• Loan charges — origination, discount points, underwriting, appraisal, lender title insurance (financed deals only).
• Title and recording charges — title search, settlement fee, owner’s and lender’s title insurance premiums, endorsements, Walton County recording fees, Florida documentary stamps on the deed and note.
• Government and HOA — Walton County property tax prorations, HOA estoppel fee, HOA dues prorations, any special-assessment payoffs.
• Adjustments and credits — seller credits to buyer (closing costs, repairs), pre-paid items, rent prorations on income properties.
• Payoffs and disbursements (seller side) — existing mortgage payoff, second mortgages, judgment liens, real estate commissions.
• Cash to close / proceeds line — what the buyer wires in or what the seller walks away with.

Florida-specific line items to read carefully

A few Florida items routinely confuse out-of-state buyers and sellers on 30A:

• Documentary stamps on the deed — $0.70 per $100 of purchase price statewide (so $7,000 on a $1,000,000 sale). On a Florida purchase, the seller customarily pays this.
• Documentary stamps on the note + intangible tax — $0.35 per $100 of loan amount plus $2.00 per $1,000 intangible tax. Paid by the buyer on financed deals.
• Owner’s title insurance premium — promulgated by the state. In Walton County, the seller customarily pays this and chooses the title company.
• Walton County property tax proration — Florida taxes are paid in arrears. The seller credits the buyer for the portion of the year the seller owned the property.
• HOA estoppel — a fee charged by the HOA (typically $200–$400) to issue the official statement of dues owed; standard on every 30A closing in Alys Beach, Rosemary Beach, WaterSound, WaterColor, Seaside, and the gated subdivisions.

How to read your ALTA statement in 10 minutes

Three things to check, in order:

1. Purchase price and deposits — confirm sales price matches the contract and your earnest money is credited.
2. Bottom line — confirm cash to close (buyer) or net proceeds (seller) matches what your agent and the lender have told you.
3. Surprises — anything between those two lines that you did not expect. Ask. AquaRK gives a written explanation of every line we are asked about.

What to do if your ALTA statement does not match your expectations

Call the title company immediately. ALTA statements get revised constantly in the final 48 hours — final lender numbers, updated estoppels, last-minute payoffs. Discrepancies are almost always corrections, not errors, but you should never sign an ALTA you do not understand.

If you have a 30A closing coming up and want a title company that walks you through every line of the ALTA Settlement Statement before signing, AquaRK Title Services has handled Florida title and closing work since 2006 from our office at Grand Boulevard at Sandestin in Miramar Beach. We close every week across 30A — Alys Beach, Rosemary Beach, WaterSound, WaterColor, Seaside, Seacrest, Inlet Beach, Grayton Beach, Blue Mountain Beach, and Santa Rosa Beach. Call us at (850) 650-9737, or get an instant written quote at aquarktitle.com.