Who Pays For What In Florida Real Estate Transactions?
There are a variety of closing costs, fees and charges associated with selling or purchasing property in the state of Florida.
Based upon certain selections within the Florida As-Is Residential Contract For Sale and Purchase, the party who is responsible for these items varies. Specifically, the party who selects the title agent and pays for the owner’s title insurance policy has become customary on a county-by-county basis.
Despite long-standing customary practices, this is a negotiated term and is solely determined by what the parties agree to. This map serves as a guide to what is customary, and below is a handy guide I’ve created to give you an overview of what to expect with each scenario.
Closing Costs if 9(C)(I) is selected
SELLER PICKS AND PAYS
Buyer
Taxes and Recording Cost for Mortgage and Deed
Lender’s Title Insurance Policy Premium
Survey
HOA/Condo Assn. Application and Transfer Fees
Brokerage Compliance Fee
Loan Expenses
Appraisal Fees
Buyer’s Inspections
Buyer’s Attorney Fees
Property Related Insurance
Seller
Documentary Stamp Taxes and Surtax on Deed
Association Estoppel
Owner’s Title Insurance Policy Premium
Title Search
Municipal Lien Search
Other Costs to Cure Title
Paragraph 11 Costs to Maintain/Repair
Seller’s Attorney Fees
Closing Costs if 9(C)(ii) is selected
buyer PICKS AND PAYS
Buyer
Taxes and Recording Cost for Mortgage and Deed
Lender’s Title Insurance Policy Premium
Owner’s Title Insurance Policy Premium
Title Search
Municipal Lien Search
Survey
HOA/Condo Assn. Application and Transfer Fees
Brokerage Compliance Fee
Loan Expenses
Appraisal Fees
Buyer’s Inspections
Buyer’s Attorney Fees
Property Related Insurance
Seller
Documentary Stamp Taxes and Surtax on Deed
Association Estoppel
Other Costs to Cure Title
Paragraph 11 Costs to Maintain/Repair
Seller’s Attorney Fees
Closing Costs if 9(C)(iii) is selected
The Miami-Dade/broward Hybrid Option
Buyer
Taxes and Recording Cost for Mortgage and Deed
Lender’s Title Insurance Policy Premium
Owner’s Title Insurance Policy Premium
Survey
HOA/Condo Assn. Application and Transfer Fees
Brokerage Compliance Fee
Loan Expenses
Appraisal Fees
Buyer’s Inspections
Buyer’s Attorney Fees
Property Related Insurance
Seller
Documentary Stamp Taxes and Surtax on Deed
Association Estoppel
Title Search
Municipal Lien Search
Other Costs to Cure Title
Paragraph 11 Costs to Maintain/Repair
Seller’s Attorney Fees
