Closing cost fees to be aware of

Total closing costs in Florida are surprisingly predictable, and you should know whats in them.

The buyer should expect costs to be approximately 1.5% of the price of the property. The seller should expect the same 1.5% PLUS the comission which may be an additional 6%-12% depending on the type of transaction and what is involved.

Line Items on the "ALTA" Closing Statement The "ALTA Settlement Statement" (American Land Title Association) details all of the fees or charges that the buyer and seller will pay during the settlement portion of a real estate transaction.

Key sections of the document
  • Prorated costs between buyer and seller
  • Title Agency Statuatory fees
  • Title Agency Non-Statuatory fees
  • Government recording and Transfer fees
  • 3rd party fees when financed
Setting aside the prorated costs, the remaining costs contain a list of typical items you might expect to find.
Line Item Buyer Seller
Title Agency Statuatory Charges 
Lender's Title Insurance Policy Section 9c Buyer or Miami/Broward checked  
Owner's Title Insurance Policy Section 9c Buyer or Miami/Broward checked Section 9c Seller Checked
Title Agency Non-Statuatory Charges 
Title & Lien searches Section 9c Buyer Checked Section 9c Seller or Miami/Broward checked
Settlement closing fee
Electronic Recording Fee for estopple letter  
HOA estoppel  
Scan storage fee
Courier fees
Government recording and Transfer charges
Deed document stamps  
Record UCC-3 - records seller satisfaction of mortgage  
non-identity Affidavit - for disregaring matters with parties of similar names  
Record Power of attorney if exists  
Record deed  
Record trust deed/mortgage  
Transfer fee to HOA if exists  
Mortgage document stamps  
Intangible tax  
3rd party fees when financed
Appraisal & Survey  
Underwriting & Processing  
Homeowners Insurance  
Prepaid interest  
RealPlaces - Keller Williams - Jonathan Asbell
2424 N Federal Highway Boca Raton, FL 33431
561.247.5650 |
Terms of Use | Privacy Policy | DMCA | GDPR | ©