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Closing costs when selling your house.

Understanding Seller's Closing Costs in Florida: Key Points to Consider

Selling a house involves more than just finding a buyer and negotiating a price. As a seller in Florida, it's essential to be aware of the various closing costs associated with the transaction. Here are some key points to help you understand the seller's closing costs in Florida:

  1. Brokerage Commission:

    • The brokerage commission is the fee paid to the real estate agent or brokerage for their services in facilitating the sale of the property.

    • It is typically calculated as a percentage of the final sales price and can vary depending on the agreed-upon terms.

  1. Documentary Stamps:

    • Documentary stamps are taxes levied by the state of Florida on real estate transactions.

    • The cost is generally calculated at a rate of 0.07% of the sales price.

    • These stamps are affixed to the deed to signify that the necessary taxes have been paid.

  1. Prorated Property Taxes:

    • Prorated property taxes refer to the portion of property taxes that the seller owes up until the closing date.

    • The exact amount is determined by the number of days the seller owned the property during the tax year.

    • The prorated amount is typically credited to the buyer at closing.

  1. Title Company Fee or Attorney Fee:

    • Sellers in Florida may need to pay a title company or attorney to handle the closing process, prepare the deed, and conduct a lien search.

    • The fee varies depending on the service provider and the complexity of the transaction.

    • The title company or attorney ensures that the title is clear and transfers ownership to the buyer.

  1. Refundable Escrow for Water Bill:

    • In some cases, sellers may be required to provide a refundable escrow deposit to cover any outstanding water bills.

    • This amount is typically estimated and held in escrow until the final water bill is received.

    • Any remaining funds are returned to the seller, or if the bill exceeds the deposit, the seller may need to pay the difference.

  1. Wire Fee:

    • A wire fee may be charged by the financial institution or closing agent for transferring funds electronically.

    • This fee covers the cost of processing the wire transfer and ensuring the secure transfer of funds between parties.

  1. E-Recording:

    • E-recording refers to the electronic recording of documents with the county clerk's office.

    • It simplifies and expedites the recording process, ensuring that the transfer of ownership is properly documented.

    • The associated fee is typically nominal and covers the administrative costs of e-recording.

Understanding the seller's closing costs is crucial for sellers in Florida to plan their finances accordingly. While these points provide a general overview, when it comes to selling your property in Broward County FL, call me for a thorough estimate based on your home value.

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#Selling in Broward County, FL


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