Real Estate Closing Costs in Florida

Closing costs are fees incurred by the buyer and seller when real estate is transferred from one owner to the next. A buyer should receive a Truth-in-Lending disclosure from their lender when the loan process has begun. The Truth-in-Lending disclosure outlines the closing costs. You should review the disclosure with your attorney or settlement agent as soon as you receive it.

Buyer Closing Costs

Some closing costs for the buyer of a home are paid before the closing. The majority of the costs paid at the actual closing and is issued by the lender and are calculated based on the amount of the mortgage loan.

Common Buyer Pre-Closing Costs

Inspection fees
- Home and property
- Pest
- Septic
Stucco
- Lender fees
Credit report
Loan Application
- Survey

Common Buyer Closing Costs

Appraisal
Attorney or settlement agent fee
Delivery charges
Document preparation
Document stamps tax
Flood insurance
Homeowner's insurance
Homeowner's warranty
Intangible taxes paid to state of Florida
Loan origination and discount fee
New construction fees
Prepaid interest
Settlement fee
Tax service fee
Taxes and homeowner association fees - escrowed and prorated
Title insurance and examination fee
Underwriting fee

Seller Closing Costs

The seller assumes less closing expenses because they are not taking out a mortgage loan. If there is enough equity at the time of the sale, the seller's closing costs can be deducted from the proceeds they will receive at closing.

Common Seller Closing Costs

Attorney or settlement agent fee
Credit to the buyer (if any)
Delivery charges
Document stamps tax
Home equity line of credit pay-off
Mortgage pay-off
Owner's title insurance and title search
Real estate commission and broker service fee
Recording fees
Taxes and homeowner association fees - prorated
Transfer taxes

This list of real estate closing costs has been prepared by the Tampa real estate attorneys of Fuentes & Kreischer, PA, 813-933-6647, www.fklaw.net.

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