Home Buying in Sarasota>Question Details

Jeanette, Renter in Miami, FL

What are sellers closing costs?

Asked by Jeanette, Miami, FL Sun Oct 27, 2013

Help the community by answering this question:


Hi Jeanette:

Here is a rundown of typical sellers closing cost when selling a property in Florida. The title charges for closing fee and title search are usually very similar between title companies. The Title Insurance for the new buyer that seller pays is based on the sales price of the property as well as State Doc Stamps on the Deed. Real Estate Property Taxes are estimated and prorated depending when the property is sold.

Real Estate Commission - usually 6%
320.00 - Closing Fee Title Company
75.00 - Title Search - Title Company
Title Insurance Policy to new buyer
State Doc Stamps on Deed (State of Florida Tax) Seller pays for new buyer.
$150.00 Municipal Lien Search for Clear title
2013 Real Estate Taxes (Estimate)
Mortgage Payoff if mortgage exists
Pro-rated HOA Fees

To get an accurate figures for closing your property, contact a Realtor who you wish to work with and let them assist you in selling your property.

Carri Schoeller, ABR, e-PRO
Charles Rutenberg Realty
Sarasota, FL 34242
1 vote Thank Flag Link Sun Oct 27, 2013
This is a pretty good run-down on closing costs for Sellers. Again..they can vary slightly. It also depends on the individual property's price for some items. And some real estate companies have different commission fees.
Your best to consult a Realtor® directly to assess your individual costs.
Rhonda Masotta...REALTOR®
Sandals Realty
Call/Text: 941-504-4349
Email: rhondalifestyles@comcast.net
Flag Sun Oct 27, 2013
Closing cost are calculated off of what your home sells for and what has been negotiated in the contract. If you would like an idea of what your home is worth please email or call me at your convenience.

Mike Holderness
SaraBay Real Estate
0 votes Thank Flag Link Mon Oct 28, 2013
Closing costs vary depending on how the contract is written. There are certain fees that are negotiable between buyer and seller. Real estate commission can vary as well. Here are the typical seller closing costs for the seller.
Attorney Fees (if required)
Owners Title Insurance Policy
Preparation of Deed
State Doc Stamps on Deed (.70 for each $100)
FRIPTA Foreign Investor 10% (when applicable)
Realtor Fee
Termite Damage Treatment (when applicable)
Structural Damage Treatment/Repairs (when applicable)
Proration of Real Property Taxes
Proration of Maintenance Fees
Existing Mortgage Balance

Tammy Hayes, Realtor
Re/Max Palm Realty
0 votes Thank Flag Link Sun Oct 27, 2013
Hi Jeanette:

I have a page on my site devoted to closing costs: http://www.davidbarrhomes.com/closing_costs_sarasota.

Advice you have received previously about a "usual" real estate fee violates federal anti-trust law. Every real estate fee not involving a defined state tax is negotiable.

David Barr, Broker Associate
Allison James Estates & Homes
0 votes Thank Flag Link Sun Oct 27, 2013
It is not determined by law. It is negotiable and written down in the contract. This is the reason why you should work with an agent who would explain that to you.

Typically, sellers pay for:

Loan payoff costs, including possible prepayment penalty fees
Real estate commissions to agents or brokerages
Transfer taxes
Title insurance fees
Notary fees
Attorney fees, if they choose to use a lawyer

of course, any dues (HOA, taxes, liens) should have been cleared.
0 votes Thank Flag Link Sun Oct 27, 2013
Good morning Jeanette,

Typically in Florida you would see on the Florida Realtors/Florida Bar purchase agreement that the seller is responsible for paying the following:

Title Insurance and search
Documentary stamp taxes on the deed
HOA or Condo association estoppel fees
Seller's attorney fees
Any charges related to clearing the title

As with everything else in a real estate transaction, these are negotiable and you may get relief from some or all of it, or you may be paying for some or all of the buyer's costs. Below is a calculator to help you find out what the total costs might look like, or feel free to contact me and I can get you a free no obligation quote from a Title Company or Real Estate Attorney. Hope this helps!

Benjamin Litke PA
Coldwell Banker Residential Real Estate
Cell: 941-993-5125
0 votes Thank Flag Link Sun Oct 27, 2013
Jeanette, There seems to be some differences in interpretation, so let me clarify. The buyer and seller can negotiate contributions towards paying each others closing costs.
Flag Sun Oct 27, 2013
These are costs that the seller is responsible for. The include closing costs, taxes, fees, etc.
0 votes Thank Flag Link Sun Oct 27, 2013
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