FAQs

CLOSING COSTS

COSTS TO BE PAID BY BUYER – per the Residential Contract For Sale And Purchase (FloridaRealtors/FloridaBar-5x, Rev. 6/19):

  • Settlement/closing fee and preparation of buyer’s closing documents
  • Settlement/closing fee if buyer is obtaining a mortgage
  • Taxes and recording fees on notes and mortgages
  • Loan expenses
  • Recording fees for deed and financing statements
  • Appraisal fees
  • Owner’s Policy and Charges (if Paragraph 9(c)(ii) is checked)*
  • Buyer’s Inspections
  • Survey (and elevation certification, if required)
  • Buyer’s attorneys’ fees
  • Lender’s title policy and endorsements
  • Lender’s simultaneous policy premium
  • All property related insurance
  • HOA/Condominium Association application/transfer fees
  • Owner’s Policy Premium (if Paragraph 9 (c)(iii) is checked)*
  • Municipal lien search (if Paragraph 9(c)(ii) is checked)*
  • Courier, FedEx, wire transfer fees, etc.

*Per FloridaRealtors/FloridaBar-5x, Rev. 6/19

COSTS TO BE PAID BY SELLER – per the Residential Contract For Sale And Purchase (FloridaRealtors/FloridaBar-5x, Rev. 6/19):

  • Settlement/closing fee
  • Preparation of seller’s closing documents
  • Documentary stamp taxes and surtax on deed, if any
  • HOA/Condominium Association estoppel fees
  • Owner’s Policy and Charges (if Paragraph 9(c)(i) is checked)*
  • Recording and other fees needed to cure title
  • Title search charges (if Paragraph 9(c)(iii) is checked)*
  • Seller’s attorneys’ fees
  • Municipal lien search (if Paragraph 9(c)(i) or (iii) is checked)*
  • Courier, FedEx, wire transfer fees, etc.

*Per FloridaRealtors/FloridaBar-5x, Rev. 6/19

MIAMI-DADE/BROWARD REGIONAL PROVISION – per the Residential Contract For Sale And Purchase (FloridaRealtors/FloridaBar-5x, Rev. 6/19):

Seller shall furnish a copy of a prior owner’s policy of title insurance or other evidence of title and pay fees for:

(A) a continuation or update of such title evidence, which is acceptable to Buyer’s title insurance underwriter for reissue of coverage;

(B) tax search; and

(C) municipal lien search.

Buyer shall obtain and pay for post-Closing continuation and premium for Buyer’s owner’s policy, and if applicable, Buyer’s lender’s policy.

Per the Residential Contract For Sale And Purchase (FloridaRealtors/FloridaBar-5x, Rev. 6/19):

If Seller has an owner’s policy of title insurance covering the Real Property, a copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date.

For purposes of this Contract “municipal lien search” means a search of records necessary for the owner’s policy of title insurance to be issued without exception for unrecorded liens imposed pursuant to Chapters 159 or 170, F.S., in favor of any governmental body, authority or agency.