Closing Costs & Expenses

*Seller’s customary closing costs and expenses

• State Documentary Stamps on Deed (70¢ per $100 of the sale price)
• Pay off of Existing Mortgage Loans
• Title Services (including title search and closing/settlement services and title insurance. Could be Buyer or Seller’s expense, depending upon contract provisions)*
• Owner’s Title Insurance Premium*
• Real Property Tax Proration
• Recording Fees – Satisfaction of Mortgage, Curative Document, Affidavits, etc.
• Proration of Condo/HOA Maintenance Fees and Assessments
• Real Estate Brokerage Commissions
• Condo / HOA Estoppel Fee
• Lien Search Fee

*Buyer’s customary closing costs and expenses with lender financing

• Condo/HOA Application Fee
• Recording Fees - Deed, Condo/HOA Approval, Mortgage, Affidavits, etc.
• Prorated Condo/HOA Maintenance Fees and Assessments
• Homeowners Casualty Insurance
• Flood Insurance if Property is Within Flood Zone
• Inspection Costs - Termite, Roof, Interior, etc.
• Survey
• Real Property Tax Proration is closing taken place anytime in November or December
• Permit Search Fee
• Title Services (including loan closing services and Lender’s title insurance. Could be Buyer or Seller’s expense, depending upon contract provisions.)
• Simultaneous Issue for Mortgage Title Insurance
• Title Endorsements (including Florida Form 9 and others as required by Lender)
• Loan Discounts or Points
• State Documentary Stamps on Mortgage (35¢ per $100)
• Intangible Tax on Mortgage (.002 x mortgage amount)
• Escrow (taxes, insurance, condo/HOA fees, mortgage insurance)
• Lender’s Attorneys’ Fees on Commercial Transaction
• Document Preparation
• Appraisal Costs
• Tax Service Fee
• Termite Report
• Credit Report
• Environmental Report on Commercial Transaction
• Flood Certification Fee

* These are your typical and customary closings fees and expenses that you can expect to pay when selling or buying.  The real estate contract will govern the party responsible.  Furthermore, FHA and VA have special rules with regard to the payment of closing fees.

Please note in 22 Florida counties, the title insurance premium is generally a buyer’s expense and in the remaining 44 counties, title insurance is generally a seller’s expense. For example, in Miami-Dade, Broward and Martin counties the title premium is generally a buyer’s expense, whereas in Palm Beach and a majority of other counties, it is generally a seller’s expense. For more information contact us.

Buyers can use Terra Title's Buyer's Closing Fee Calculator to give you an estimate of your closing fees and expenses associated with your purchase.

If your Selling a property, try Terra Title's Seller's Net Proceeds Calculator to give you an estimate of your net closing proceeds from your sale.