Closing costs for selling a home in Florida
Closing costs in Florida for home sellers is made up of a few fixed costs as well as some variable costs based on the date of the closing as well as title company closing fees. In general a seller will most commonly have the closing costs of
Government Doc Stamp Taxes ($0.70 per $100)
Title Insurance policy is based on the sales Price:
- $575 for the first $100,000
- $500 for each additional $100,000 up to $100,000,000
- $250 for each $100,000 up to $5 million
- $2.25 for each $100,000 up to $10 million and then
- $2.00 per $100,000 after $10million.
Real Estate Agent Commissions (typical commission are in the 5%- 7% range but are fully negotiable and may at times be based on the level of service you receive from the listing broker/ agent.)
Title Company closing fees (Typically $350- $700)
lien and title search fees ($150-$300)
HOA Estoppel- this is a document that many HOA’s charge for. This shows there are no leans or back HOA dues owed. If required the cost is usually $200- $600
Also you will be prorated on an estimate of property tax for the year (it is common for them to use last year’s tax amount.) This proration will be based on the number of days in the year that you owned the property.
Some of these costs can vary and some are requirements. Make sure you ask your Realtor® to go through all these costs with you. There are other small fees that can vary from title company to title company but the overall cost on them should be minimal.
Below is an example of a Net analysis from a $300,000 sales price on a property in an HOA managed neighborhood
$300,000 Sales Price
$2100 - Doc Stamps
$1575- Title Policy
$18000 - realtor fees (assuming 6% commission)
$500 – Title closing fees
$100 - Title Search
$150 – County Lien Search
$250 – HOA Estoppel
$2500 – Property Tax Credit to Buyer (Assuming $5000 annual property tax and a closing half way through the year.)
$274,825 Net Proceeds
If you are thinking of selling and would like a net analysis of your property you can send me a DM, give me a call 321-312-0545, or schedule an appointment at www.mcbarnettgroup.com/selling.
Click Here- if you would like to see an estimated net proceeds analysis for your property.
***Closing costs can vary. The above should be not be used as an exact estimate as that can only be determined by a title company once a sales price and closing date are known.