Common Florida Seller Closing Costs
Real Estate Agent Commission
6% of the sales price
Outstanding amounts owed on the property.
You'll be responsible for any unsettled payments on your home that can include HOA fees (homeowner's association) and utility bills. All of these extraneous costs will be prorated to your closing date.
Settlement Fee – typically $750-975.
While you can avoid attorney fees (Florida doesn't require an attorney to be present at closing), you'll still need to pay a settlement fee to the title company or escrow company for their services on closing day.
Prorated Property Taxes
Property taxes in Florida are paid in arrears. You’ll owe property taxes for the portion of the year you owned the house (be it 30 days or 300 days). They’ll be prorated based on the number of days you owned the home, so the amount you owe will be much higher for a November closing than one in early January (300 days vs. 30 days). Note: If your current mortgage payment includes an estimated amount for property taxes that they collect and put in “escrow”, then each month you should be able to get your escrow balance back after closing.
Title Search
$120 to $250 A title search looks into the home's ownership history to ensure you're the true owner and that the title is clear of any liens or judgments..
Municipal Lien Search
$400 to $450 The municipal lien search looks into unrecorded property issues that aren’t shown in a typical title search, such as code violations, water/sewer/solid waste balances, and open or expired permits, to name a few. The cost varies by municipality.
HOA Estoppel
Typically $250 to $500 This letter certifies how much you owe the HOA. It includes your monthly dues, as well as any special assessments, past dues, fines or other fees. Since the HOA could potentially put a lien on your home for unpaid dues or to enforce violations, the title company must confirm that you are in good standing with the HOA and current on all your dues before they can give clear title on the home.
Documentary Stamps on the Deed – varies with price of the home
Property taxes in Florida are paid in arrears. You’ll owe property taxes for the portion of the year you owned the house (be it 30 days or 300 days). They’ll be prorated based on the number of days you owned the home, so the amount you owe will be much higher for a November closing than one in early January (300 days vs. 30 days). Note: If your current mortgage payment includes an estimated amount for property taxes that they collect and put in “escrow”, then each month you should be able to get your escrow balance back after closing.