Real Estate September 6, 2022

What are the closing costs in Florida?

Closing costs in Florida are the fees paid by the buyer and the seller when a home is sold. And if home buyers often budget for their down payment, they may forget about closing costs completely…

Who pay the closing costs in Florida?

Both the buyer and the seller pay for them – they are just responsible for different costs. If you’re a buyer, you pay for fees associated with your mortgage and having the home’s inspection. If you’re a seller, you’re responsible for the agents’ commission and taxes.

Seller’s closing costs in Florida

Sellers can expect to pay from 7-9% of the home’s purchase price in closing costs (this includes the commission fees of the agents)

  • Title search fee
  • Real estate commission (up to 6% of purchase price)
  • Transfer taxes/documentary stamp
  • Promissory note
  • Intangible tax
  • Prorated property taxes

Buyer’s costs

Closing costs for buyers are typically between 2.5% and 3.5% of the price of the home.

These are some frequent costs to consider:

  • Prorated HOA charges, HOA approval fees
  • Survey fee (based on land size)
  • Appraisal fees ($400-$800)
  • Credit report ($50-$75)
  • Loan origination fees
  • Home, mold and termites’ inspections ($375-$1,000)
  • Recording fees ($50-$250)

TIP: Closing costs in Florida can add a significant amount of the total price, and both buyers and sellers should always anticipate before closing a deal. Of course, if you choose to rent a property rather than to buy, these costs are not applicable.

For more info about the closing costs, please click here

How to pay closing costs ?

When structuring a mortgage home loan, there are four ways to pay for the mortgage closing costs: pay cash at closing, roll the costs into the loan (not often possible), increase the interest rate, or do a combination of the three. Discuss this with your banker and your real estate agent as well.


Disclaimer: Agency One Properties and Laure Deltin Angeletti do not provide any kind of tax, legal, financial or accounting advice. This material has been prepared for informational purposes only.