Home Selling in Jacksonville>Question Details

Mitch, Home Seller in Jacksonville, FL

Is the seller required to pay the deed stamp and the title insurance?

Asked by Mitch, Jacksonville, FL Sun Aug 31, 2008

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I have a land contract and it it stated that the seller agrees to pay the cost of title insurance and deed preparation. Does this mean when we close at the title co. that the seller pays for everthing?
0 votes Thank Flag Link Fri Feb 15, 2013
Hello Mitch

As several people have already stated closing costs are negotiable as far as who pays them therefore the short answer is no, the seller is not "required" to pay deed stamps and title insurance. However in order to convey a clear title somebody has to. Here is a list of expenses customarily paid by the seller here in Jacksonville and north east Florida:

- Deed stamps
- Owners Title insurance policy
- Title search and exam fee
- Closing attorney/settelemnt fee
- Real estate brokerage fee
- Satisfaction of mortgage recording fee
- Survey
- Any charges required by a buyers lender in connection with the loan which a buyer is prohibited from paying by law or regulation such as a WDO inspection fee in the case of a VA loan.
- The seller must also credit the buyer a prorated amount to cover taxes, HOA fees and assesments, and community development district fees due for the portion of the year the home was in possesion of the seller.

If you have your home listed with a REALTOR refer to paragraph 2.(c) of your listing agreement for more info regarding what the seller has agreed to pay. If you are selling on your own I suggest you consult a real estate attorney for closing assistance. Good luck with the sale of your home!
0 votes Thank Flag Link Mon Sep 1, 2008
In Jacksonville it is customary that the Seller pay the deed stamps and title insurance. Deed stamps are in reality a tax to transfer your ownership. Title insurance guarantees you have a marketable title to transfer to a new owner and that when the new buyer sells the home there will be no surprises. However, in some instances the Buyer has paid both.. It depents upon the terms of the contract. It also depends upon whether or not your buyer will walk away from the deal if you push the issue and how motivated you are to sell the home. (It is a Buyer's Market)
Web Reference: http://www.cathysloan.com
0 votes Thank Flag Link Mon Sep 1, 2008
Each area of Florida has different "customary' procedures. However, the seller must deliver good title and that generally includes the doc stamps. Title insurance is an item that can be negotiated, as well as other expenses.
0 votes Thank Flag Link Sun Aug 31, 2008
Hi Mitch:

It is customary in Florida that the seller pay those part of the closings costs. That includes the doc stamps on the deed and the owners title policy. The sales contract dictates which party is responsible for specific closing costs. Hope that helps.

Kathy Phillips
Coldwell Banker Residential Real Estate
0 votes Thank Flag Link Sun Aug 31, 2008
It is customary that the seller pay the deed stamp and title insurance. The buyer is already paying so many closing cost. In this market most buyers are aking for assistance in closing, therefore I really can't see them paying some of the sellers closing cost.
0 votes Thank Flag Link Sun Aug 31, 2008
Yes, by all means the person holding all the equity should give it to the buyer.. I think people forget that the homeowner who has been dutifully paying a mortgage while everyone else who bought too much home has foreclosed in this tough market, has seen their home value fall dramatically, has already taken a really short deal because it is already a buyers market, will give half the equity to a realtor who took a few pictures and prepared a few documents, YES, we should assist the poor buyer with their closing costs.
Flag Sat Oct 4, 2014
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