How much are Florida closing costs? | Who pays them? | Florida seller closing costs calculator | How to save when you sell | FAQs
You'll pay around 1.7% of your home's final sale price in seller closing costs when you sell a home in Florida. For a $305,266 home — the median home value in Florida — you'd pay around $5,191.
In most cases, your closing costs will come out of your sales proceeds — but they're only a portion of what you'll pay at closing. Expect to pay realtor fees, your mortgage payoff, and other home selling expenses as well. If you don't get enough money for your home to pay off these expenses, you may have to pay for some of them out-of-pocket.
Since realtor fees will likely be one of your biggest expenses, finding a lower rate is one of the best ways to save when you sell. Thankfully, you can save money by finding an agent with Clever! We pre-negotiate low listing fees of just $3,000 or 1% with top full-service Florida realtors so you can keep more in your pocket after selling your home.
💰 SAVE: Find top local agents, save thousands on realtor fees!
Keep reading to find out which closing costs sellers typically cover in Florida and how much you can expect to pay for each of them. Need estimates for your sale? You'll also find our Florida seller closing costs calculator! |
How much are seller closing costs in Florida?
Seller closing costs are fees you pay when you finalize the sale of your home in Florida. These include the costs of verifying and transferring ownership to the buyer and many are unavoidable.
Florida seller closing costs | Average rate | Average cost* |
|---|---|---|
🔍 Title service and closing fees | 0.46% | $1,391 |
🗞 Owner's title insurance | 0.53% | $1,614 |
🏡 Documentary stamp tax | 0.70% | $2,137 |
✍ Recording fees | 0.02% | $50 |
💰 Property taxes | Varies | Varies |
*Based on a sale price of $305,266, the typical home value in Florida (Zillow July 31, 2021) | ||
In Florida, you'll pay about 1.7% of your home's final sale price in closing costs, not including realtor fees.
Keep in mind that this is only an estimate. While closing costs will always have to be paid, your real estate agent can often negotiate who pays them — you or the buyer.
Who pays closing costs in Florida?
Buyers and sellers share the burden of paying for closing costs at the end of a home sale, but they won’t pay for the same things. In Florida, sellers typically pay for title and closing fees, transfer taxes, owner's title insurance, and recording fees at closing.
» FIND: Learn more about buyer closing costs in Florida
Title and closing fees: 0.46%
When you sell your home, you have to transfer legal ownership of the property to the buyer. Before that, your settlement agent will do a title search to make sure no one else has a legal claim to the property.
Title fees pay for the settlement agent who handles the search and transfer of your title, as well as other related closing services.
In Florida, the buyer and seller typically cover the cost of their own title company or closing agent, but don’t expect this for every sale. Ask your realtor if you're not sure.
Owner's title insurance: 0.53%
An owner's title insurance policy protects a buyer in case a problem arises regarding previous ownership of a title. This includes anything from clerical errors in the paperwork to full disputes over ownership. This title insurance policy covers any fees for legal representation or to reimburse the value of a home if mistakes are made.
In Florida, owner's title insurance usually costs around 0.53% of your home's final sale price — or $1,614 for a $305,300 home. However, the specific rate for your property may vary. Title companies in Florida often use tiered pricing to determine how much you'll pay for a policy based on your home's value.
Typically, the seller covers the cost of an owner's title insurance policy in Florida, but it's not uncommon for both parties to negotiate who pays this closing cost.
» MORE: What Is title insurance, and why do you need it?
Florida documentary stamp tax: 0.70%
Florida charges you about 0.70% of your home's sale price to transfer the title to the new owner. If you sell for Florida's median home value — $305,000 — you'd pay $2,135. However, your county or city may also charge their own transfer taxes. Check with your realtor and title company to see what taxes you'll owe in your area.
» FIND: Learn more about transfer taxes in Florida
Florida recording fees: $50
Your state or local government charges a fee for legally recording a property's deed and mortgage information. Expect to pay around $50 in Florida — though you may be able to negotiate for the buyer to cover this cost.
Property taxes: Varies
In Florida, your county may collect property taxes for the current year at the end of the year. If that's the case in your area, you'll pay property taxes at closing for the portion of the year that you owned the property. That way, the buyer doesn't have to pay taxes for the entire year when they only owned it for a few months.
In areas where you pay property taxes at the beginning of the year, the buyer would typically reimburse you at closing for the remaining months.
Other Florida closing costs for sellers
Every Florida home sale is unique, and many of them come with unforeseen costs attached. For example, you may have to pay out-of-pocket for a property appraisal on your Miami penthouse, or you may get hit with a penalty for paying off your Jacksonville single family home’s mortgage early. Regardless of your circumstances, you should be prepared to pay off some surprise fees during your transaction. Here’s a list of some of the most common:
- Homeowners Association (HOA) fees
- Settlement or attorney fees
- Property appraisal fees
- Mortgage payoff and/or prepayment penalties
Your realtor will have a better idea of the closing costs you can expect to pay, depending on the Florida neighborhood you're selling in and other factors.
Florida closing costs calculator
In Florida, you should expect to pay around 1.7% of your home's final sale price in closing costs — although your exact charges will vary based on your home's value, local fees, and your arrangements with the buyer.
Use this Florida closing costs calculator to see how much money will come out of your proceeds at closing — and how much you'll take home after the sale.
How to save on Florida closing costs
While closing costs aren't typically the biggest expense for sellers in Florida, you do have some options to help you pay less, if possible.
Negotiate for the buyer to pay
If you're selling in the middle of a hot seller's market with low housing inventory, you may be able to ask the buyer to cover some of your closing costs.
Competition among buyers is fierce in these market conditions, so they're typically more willing to make concessions so you'll accept their offer on your Florida home.
Shop around for better prices
You can also save some money by shopping around for cheaper rates on services like title insurance and closing fees.
However, these costs are relatively low and tend to be fairly consistent from title company to title company. When you're already navigating inspections, repair requests, and appraisals, calling seven different companies to find a $50 discount on owner's title insurance probably isn't worth the hassle!
Save on realtor fees
The best way to save money on a big chunk of your selling costs is to find a realtor who charges lower listing fees. In Florida, real estate commission costs an average of $16,417 — that's typically more expensive than the rest of your closing costs combined!
Thankfully, there's a way to save big by selling with Clever. With listing fees of just $3,000 or 1%, you'll save an average of $5,205 on a median-priced home in Florida!
Other home selling costs in Florida
Closing costs aren't the only expenses you'll have to pay when you sell your home. As noted, most sellers cover the realtor commission for both their agent and the buyer's agent.
On top of realtor fees and closing costs, you may also face these expenses:
- Repairs and prepping your home to sell
- Buyer incentives, like offering a home warranty
- Relocation and moving expenses
» LEARN: How much does it cost to sell a house in Florida?
Next steps
Florida has enjoyed one of the hottest real estate markets in the U.S. over the past decade, so now is an excellent time to sell— before the state enters a down cycle.
Whether you’re selling your Miami condo because you need more room for your growing family, or you’re cashing out your Naples investment rental as you ease into retirement, you’ll want to make the most money possible from your home sale.
Closing costs can take a big bite out of your profits, and they likely won't even be your biggest expense when you sell — real estate agent commissions will be. Fortunately, Clever's pre-negotiated lower listing fees — either 1% or $3,000 — with some of Florida's best real estate agents. Contact Clever today to see how much you can save!