Brokerage commission
Usually the largest cost. Commissions are not set by law and are always negotiable. We'll agree on the listing commission up front, and talk through how any compensation offered to a buyer's agent will be handled.
Documentary stamp tax on the deed
Florida charges a tax to record the deed, customarily paid by the seller. In most counties, including Broward, it's $0.70 per $100 of the sale price. Miami-Dade uses its own rate: $0.60 per $100, plus a $0.45 per $100 surtax unless the property is a single-family residence.
Title insurance and closing fees
Who pays for the owner's title insurance policy depends on local custom and the contract. In Miami-Dade, the buyer customarily pays; in many other Florida counties, the seller does. Expect settlement or closing fees and, in some cases, a municipal lien search.
Your mortgage payoff
Any loans or lines of credit on the property are paid off at closing, including interest through the payoff date.
Prorated property taxes
Florida property taxes are paid in arrears, so the seller typically credits the buyer for taxes from January 1 through the closing date.
HOA and condo items
If your property is in an association, there will be an estoppel certificate fee and any dues or assessments owed through closing.
Repairs, credits and concessions
Repairs negotiated after the buyer's inspection, closing-cost credits, or a home warranty you agree to provide.
Other items that may apply
- Closing open or expired permits before the sale
- Attorney fees, if you hire one
- Moving, cleaning and staging
- FIRPTA tax withholding if the seller is a foreign person, which is generally a percentage of the sale price withheld at closing
Every sale is different. Before you list, I'll prepare an estimated seller net sheet with your actual numbers. Figures on this page are general information, not tax or legal advice; your title company, CPA or attorney can confirm what applies to you.
