First up is paying off any debt still tied to the home from any mortgages, home equity lines, etc.
These will be around 3-4% of the purchase price and go towards settlement fees, title insurance, etc.
Negotiate this in your original listing agreement
The documentary stamp tax is levied at the rate of 0.007 x the purchase price on documents that transfer interest in Florida real property, such as warranty deeds and quit claim deeds. This tax is usually paid to the Clerk of Court for the county when the document is recorded.
No one wants to find out that someone else is trying to make a claim on ownership of their property. This is an extra layer of protection against any distant family members of previous owners coming out of the woodwork to try to claim the property. Title insurance is normally paid by the seller because you are guaranteeing that you have the right to sell the property to the new owner. If you bought the home within the last three to five years you may be able to get a break on this cost by requesting a “reissue rate.”
If your property is located in a planned unit development or condominium community, there will be certain endorsements that go along with the title policy. These are usually nominal.
A fee charged by the title company to review and examine the chain of title to verify that a title insurance policy can be obtained.
Fees charged by the title company and your closing attorneys for coordinating the closing of the transaction and accounting for all the funds involved.
Completed by a licensed professional surveyor, this shows the official boundaries of the property being conveyed in the transaction (nobody likes fence disputes). Most lenders are going to want a new survey done on the property, and in Northeast Florida this cost is most commonly covered by the seller.
A fee charged by a lender for coordinating the payment of real estate taxes for FHA loans.
Fee charged by the county to file and keep record of each important document.
A nominal fee that can be charged by the closing agent to overnight any paperwork if you will be out of town for the closing.
This fee is negotiated when you sign your listing agreement with your brokerage of choice.
Additional Optional Costs for Sellers
Inspection fee that must be paid by the seller if the buyer is financing with a VA loan.
If any repairs or credit for repairs has been negotiated during the transaction, that will also be due at closing.
If you agreed to help pay any of the buyer’s closing costs, that will also be due at closing.
Sometimes offered by the seller to ensure that all the major systems and appliances are covered for a year past the sale of the house. Just an extra selling point that comes in handy for older homes.