In FL, what closing costs do the sellers pay besides commission?

Asked by Virginia, Wilton, CT Wed Jul 14, 2010

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6
Michael Mess…, , Lakewood Ranch, FL
Fri Oct 22, 2010
If you have not SPECIFICALLY NEGOTIATED seller paid closing costs, your seller will most likely be paying for Deed Stamps (purchased price X .007). Its typical for the sellers in this area to pay for deed stamps. New GFE guidelines mandate the disclosure of this cost even though (in most cases) buyers will not be paying for it.
I helps Virginia.
0 votes
Tammy Hayes, Agent, Port Charlotte, FL
Mon Oct 18, 2010
The closing agent will provide you with a HUD 1 Settlement Statement that will show all of the expenses. Here is a list of common expenses that may be incurred by the seller.
Attorney Fees (if required)
Owners Title Insurance Policy
Preparation of Deed
State Doc Stams on Deed
FRIPTA Foreign Investor 10% (when applicable)
Realtor Fee
Termite Damage Treatment (when applicable)
Structural Damage treatment repairs (when applicable)
Proration of Real Property Taxes
Existing Mortgage Balance

Tammy Hayes, Realtor
Sandals Realty, Punta Gorda, FL
tammyhayesre@gmail.com
0 votes
David B. Lev…, , Longboat Key, FL
Wed Oct 6, 2010
there are state doc stamps which are 70/1000 so for 100,000 home looking at 700 dollars. if there is a loan on the mortgage that you pay 25/1000 so if you have a loan of a 100,000 on the home you sell looking at 250 dollars for this Intangible tax as it is called
title is either paid by buyer or seller
then a few small recording fess etc......
repairs if needec also on home depending on how the contract reads
hope thisd helps
if my team can hel pyou sell your home please let us know
0 votes
Ryan Smith, Agent, Murrieta, CA
Wed Jul 14, 2010
Hi Virgina,

Most closing cost are negiocable, the best advice I could give you is contact an escrow company or lender in your area and ask for a sample GFE. This will show you what exactly closing cost are. Then check with a local realtor to see what seller's are paying for in your current marketplace. If your state does not use escrows, contact a local realtor.

Hopefully this helps,

Thanks, Chris Blasic
0 votes
Teresa M. Fe…, Agent, Sarasota, FL
Wed Jul 14, 2010
Hi Virginia,

Not all expenses paid by the seller are the same in Florida. Customary costs may vary from county to county and everything is negotiable. In Sarasota, the seller customarily pays the Doc Stamps on the Deed at a rate of .70 of sale amount. EX: $178,000 divided by 100 = $1,780 x .70 = $1,246. Other fees that might appear on a closing statement are currier fees, notary fees and attorney fees if applicable.

My best,
Terri

Teresa M. Fellows
Broker/Associate
Waterside Realty LLC
941-350-4297
tmf4257@mac.com
http://www.floridawestproperties.com
0 votes
Antonio Vega…, Agent, Saint Cloud, FL
Wed Jul 14, 2010
Traditionally they pay the buyers Title Insurance, and the proration for taxes used until the day of sale.

Tony Vega
Charles Rutenberg Realty
0 votes
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