Know Your Costs
Complete breakdown of every closing cost Florida sellers pay. Doc stamps, title insurance, prorated taxes, and how to eliminate them.
With agent: 8-10% of sale price ($28K-$35K on $350K). Without agent: 2-4% ($7K-$14K). With cash buyer: typically $0 - the buyer pays everything. The biggest cost by far is agent commissions at 5-6%.
Agent commissions: 5-6% ($17,500-$21,000 on $350K). Documentary stamp tax: $0.70 per $100 in all counties except Miami-Dade ($0.60). On $350K: $2,450. State tax, non-negotiable. Title insurance: ~$1,750-$2,100 on $350K (seller pays in most FL counties, buyer pays in Miami-Dade, Broward, Sarasota, Collier). Prorated property taxes: You pay through closing date. HOA fees: Prorated plus estoppel letter ($100-$500). Title search/closing fee: $500-$1,100 combined. Recording: $10-$50.
Negotiate agent commissions (4-5% is achievable). Sell FSBO to eliminate listing agent commission (saves 2.5-3%). Sell to a cash buyer for $0 total closing costs. Shop title companies for competitive fees. Avoid agreeing to pay buyer closing costs.
On a $350K sale: Agent total: $22,200-$26,650. FSBO: $4,700-$16,150. Cash sale: $0. With cash, the offer amount is your net proceeds minus existing mortgages and liens paid off at closing.
At closing - deducted from sale proceeds before you receive funds. No out-of-pocket payment needed as a seller. The Closing Disclosure itemizes every cost at least 3 business days before closing.
Both pay different costs. Sellers pay commissions, doc stamps, title insurance (most counties). Buyers pay loan costs. Cash buyers often pay all costs.
Some reduce capital gains (commissions, transfer taxes). No FL state income tax. Consult CPA.
Commissions: always. Title fees: shop around. Doc stamps: state-set, non-negotiable.