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
- 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!
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.
Coldwell Banker Residential Real Estate