Closing costs in home purchases can add another 2 to 7 percent to the total. In Florida, like elsewhere, most of your closing costs are incurred in connection with obtaining a mortgage. However, even if you are not obtaining a mortgage, you can expect the following typical closing costs:
Promulgated rates for title insurance premiums are as follows:
|
| $300,000.00 |
= |
$1,575.00 |
| $500,000.00 |
= |
$2,575.00 |
| $600,000.00 |
= |
$3,075.00 |
| $700,000.00 |
= |
$3,575.00 |
| $1,00,000.00 |
= |
$5,075.00 |
|
|
|
Documentary stamps on Deeds
($.007 x purchase price) are as follows (typically a seller expense in Broward County): |
| $300,000.00 |
= |
$2,100.00 |
| $500,000.00 |
= |
$3,500.00 |
| $600,000.00 |
= |
$4,200.00 |
| $700,000.00 |
= |
$4,900.00 |
| $1,000,000.00 |
= |
$7,000.00 |
|
|
Closing Services: $800 to $1200 (includes Services
performed by licensee, Document Preparation, Conducting the Closing,
and Disbursing funds)
Abstract: $225 or $275 (with or without prior policy)
Primary Title Services: See rates Promulgates by State of
Florida (includes preparing and issuing Title Commitment and Title
Insurance policy, UCC searches, Title Examination, Clearing
underwriting obstacles, determining insurability)
Additionally the buyer should prepare to pay for the following services:
| • Application Fees |
• Inspection Fees |
• Casualty and Flood Insurance |
• Flood Certificate Fee |
| • Real Property Taxes |
• Homeowner Association Fees |
• Underwriting Fees |
|
|
