You have signed the offer, survived the inspection, and your lender has sent the Closing Disclosure (CD). You think you know the numbers. But in North Carolina, the CD isn’t the final authority on where every penny goes—the ALTA Settlement Statement is.

While the Closing Disclosure is a federal form designed for lenders, the ALTA (American Land Title Association) statement is the ledger the closing attorney uses to balance the books. In the complex markets of New Hanover and Brunswick counties, this is where junk fees hide and where savvy buyers catch mistakes before they become permanent.

Here is the insider guide to reading the ALTA before you sign.

The "Community Fee" Reality Check

In our region, HOA dues are just the tip of the iceberg. The ALTA statement often reveals hefty Working Capital or Transfer fees that don't appear on a standard Zillow listing.

The Surprise: Buyers in master-planned communities like St. James Plantation or Brunswick Forest often get sticker shock at the closing table. Transfer or initiation fees ranging from $2,000 to over $15,000 are common depending on the neighborhood section and membership tier.

The Check: Look specifically at the HOA Charges section. Ensure you aren't paying a resale certificate fee the contract stated the seller would pay.

The "Coastal Assessment" Trap

If you are buying on an island, scan the Assessments line items immediately.

Dredging Costs: In towns like Sunset Beach or canal-front areas of Carolina Beach, dredging assessments can hit $7,000+ per property.

The 2025 Revaluation: New Hanover County’s 2025 tax revaluation means old tax data is obsolete. Confirm the attorney is prorating taxes using the current assessed value, not last year’s lower figure.

Title Insurance: The "Simultaneous" Discount

This is a classic insider save. In North Carolina, if you buy an Owner’s Title Policy, the Lender’s Title Policy should be deeply discounted—often to around $28.50.

The Mistake: Some out-of-state lenders accidentally charge full price for both policies. Check the Title Charges section. If you see two four-figure premiums, speak up immediately.

The "Good Funds" Wire Rule

North Carolina is a Wet Settlement state. The seller cannot be paid, and you cannot get the keys, until the deed is recorded and funds are verified in the attorney’s trust account.

The Strategy: Do not wire your Cash to Close on the morning of settlement. If the federal wire system delays your transfer, you could be spending the weekend in a moving truck. Wire your funds 24–48 hours in advance.

Your Next Step

The difference between a standard closing and a strategic closing is having a partner who reads the ALTA statement as carefully as the contract.

Aspyre Realty Group excels at listening and communicating your financial goals into a transaction that works. We audit the fees, verify the assessments, and ensure your Cash to Close number is exactly what it should be.

Let’s review your numbers before you send the wire.