Outside of the lender fees which I do not itemize here, in the state of Florida you also have some of the following fees. Each county has its own custom, but below is what is custom in the Sarasota / Bradenton area:
1. Title Insurance is what you were calculating on the question - this is a cost that can be paid by either party or split between the parties. However, there are some endorsements that can be added that your bank requires & the Buyer is usually responsible. Each endorsement can cost approximately $75
2. Doc Stamps on Note is another Buyer's fee. This calculation is based on the amount of the mortgage, divided by 100 & then multiplied by 0.35.
3. Intangible Tax is another Buyers fee. This calculation is also based on the amount of the mortgage & multiplied by .002.
4. Survey if needed can cost from $250 to $500+ depending on the size of the property. Sometimes a Seller can provide one that is recent & your mortgage company will accept it - otherwise this is a cost you may need to pay for.
5. Closing Agent or Attorney. You will pay in addition to the title insurance, a search & exam fee, usually around $75-$100, plus the fee to close the property, which could be as low as $100 to as high as $500+ with an attorney. Check around & compare pricing.
6. You will need a Home Inspection - this is something that again can cost around $300-$500+, depending on the size of the home.
7. In Florida we are required to have Pest Inspections (at a cost of $35-$50) to check for termite & wood destroying organisms.
8. Recording Fees - keep in mind, some Counties charge approximately $6.00 per page to record. The mortgage is always recorded & sometimes is in excess of 15 pages.
9. Appraisal - your bank will usually order this & may or may not make you pay for it up front - usually $400+. If your bank orders this, be sure to request a copy of the Appraisal - you have paid for it and are entitled to it.
10. Insurance - your bank will require a 1 year policy paid in advance at closing. If you are asking the bank to make payments for you for taxes & insurance, they will also escrow another few months of insurance at closing.
11. Taxes - the Seller usually will credit you on the closing statement for the taxes based on when they were in the property. If you closed on April 1st, the Seller would reimburse from Jan 1 to Mar 31, as this would be their portion of the taxes due when the tax bill arrives in our area in November.
12. If you belong to an association, you will pay a pro-rated share of the fees calculated similar to the taxes above.
I hope this answers your question properly.
Flavia: We are in the business to serve all, not just people who like Realtors. Sometimes people use us and sometimes they don't - it is still a free country & people can do what they like. However, when they talk to a Realtor you must always be professional, even if you don't like what that person does. The Real Estate profession keeps its integrity if we all act professionally, at all times.
I did answer you questions above and bellow, with attention, but I also read your thoughts about RE in other VOICES, so I came back here and deleted my free advise, sorry, if you don't like REAL ESTATE AGENTS and are against our services and job, SORRY, NO DONUTS FOR YOU!
Wish you LUCK!
Coldwell Banker Triad