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Closing Costs

Closing Costs in a Standard Florida Contract (and typical amounts)

 

COSTS TO BE PAID BY SELLER:

  • Documentary stamp taxes on deed (0.7%, $700 per $100,000)
  • HOA/Condominium Association estoppel fees ($50 to $100)
  • Recording and other fees needed to cure title (not typical)
  • Full amount of all liens imposed by a public body (not typical)
  • Seller’s attorneys’ fees (not typical)
  • Commissions and fees Seller has agreed to pay a real estate broker(6 to 8%)

 

COSTS TO BE PAID BY BUYER:

  • HOA/Condominium Association application/transfer fees ($150 to $250)
  • Buyer’s Inspections ($300 to $400 typically paid before closing)
  • All property related insurance (variable)
  • Buyer’s attorneys’ fees (not typical)
  • Commissions and fees Buyer has agreed to pay a real estate broker, if any
  • Loan expenses (lender supplies these charges in good faith estimate)
  • Recording fees for deed and financing statements
  • Taxes and recording fees on notes and mortgage
  • Lender’s title policy and endorsements
  • Appraisal fees
  • Survey (Seller to provide a copy if Seller already has one)    

 

COSTS THAT ARE AUTOMATICALLY NEGOTIABLE:

  • Owner’s Title Insurance Policy and Charges (insurance policy depends on who names closing agent, typically both sides pay some charges of $300 to $500)
  • Special Assessments imposed by a public body (typically all for seller, if any)
  • Home Warranty (no longer typically included)

 

COSTS THAT ARE PRORATED (split between Buyer and Seller):

  • Real Estate taxes (including CDD assessments, if any)
  • Association fees
  • Interest (not typical)
  • Bonds (not typical)
  • Rents (not typical)
  • Other expenses of the property

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Mark LeMenager

Phone: 407-744-4759
Mark_LeMenager@yahoo.com

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Mark LeMenager | La Rosa Realty LLC | 407-744-4759 | Mark_LeMenager@yahoo.com
3373 Schoolhouse Rd. Harmony, FL 34773