Miami Seller Closing Cost Calculator

Purchase price

Realtor commission (%)

Seller pays title insurance

Are you selling a single-family house?

Email Me The Results

Estimated closing costs

Realtor commission
Title insurance
Florida Documentary Stamp Tax
Title and lien search fees
HoA estoppel letter fees
Wire transfer fees
Document preparation fee
Transaction fee
Total
% of purchase price

Learn More to Save More

Documentary Stamp Tax, title & lien search fees, HoA estoppel letter fees, prorated property taxes, mortgage payoff, Realtor fees & more.
What Are Florida Seller Closing Costs?
Florida seller closing costs are lower compared to New York, and will run on average between 7% to 8% of the sale price, assuming a typical 6% Realtor commission and the seller pays for title insurance and related search fees. [...]
Overview of closing costs for a buyer in Florida. Average cost as well as price ranges for each closing cost item home buyers can expect.
What Are Closing Costs for a Buyer in Florida?
New Yorkers buying a home in Florida will be pleasantly surprised to find that closing costs down here are substantially lower than the closing costs they're used to up north. With the exception of broker commissions, paid by the seller, [...]
The purpose of a seller's affidavit, typically signed on closing day for a home, what the seller attests to and a sample affidavit to review.
What Is the Seller’s Affidavit for Closing?
A seller's affidavit, otherwise known as a seller's closing affidavit, is a typical document signed by the seller on closing day, along with the warranty deed, bill of sale, assignment of parking space and power of attorney, if applicable. The [...]
A Florida Bill of Sale is a closing document signed by the seller on closing day to account for any personal property related to the sale.
Why do you need a Florida Bill of Sale for a home sale?
A Florida Bill of Sale is one of the typical closing documents a home seller will sign in addition to the Florida Warranty Deed. A Bill of Sale is necessary because the sale of a typical home invariably will come [...]
What a Florida warranty deed is, how buyers are protected, what obligations sellers have as well as a sample warranty deed to review.
What is a Florida Warranty Deed?
The Warranty Deed is used for most transactions involving an arms length buyer and seller, i.e. when the counter-parties are strangers. With a Warranty Deed, the grantor, or seller, is giving the grantee, or buyer, a guarantee of warranty that [...]
Unlike New York, Florida requires sellers to fill out a property condition disclosure form and disclose all known, latent material defects.
What is the Seller Disclosure Form in Florida?
The seller disclosure form in Florida is required by law1 to be filled out by sellers and presented to buyers after a purchase contract has been signed, and is an important part of the process of buying a condo in [...]
Sample title commitment letters for all cash and financed condo purchases in Miami. Exceptions, requirements & more explained.
Sample Title Commitment for a Florida Home Purchase
We've included sample title commitment letters below for a hypothetical all cash condo purchase as well as a financed condo purchase in Miami, Florida. Notice how the title insurance commitment specifies exactly who and what is being insured, and how [...]
What is an ALTA 9 endorsement? Why and when do you need one? Check out a sample South Florida ALTA 9 endorsement policy & more.
Sample Florida ALTA 9 endorsement
The ALTA 9 endorsement is typically issued in Florida for purchases of free-standing residential houses and commercial buildings, but is not typically used for condominium buildings. It is an additional piece of insurance that protects against loss or damage resulting [...]
A step-by-step overview of the process of buying a condo in Miami in 2023 and how the Florida buying process differs from buying in New York.
The Complete Guide to Buying a Condo in Miami (2023)
Buying a condo in Miami is an exciting event, but it can catch many first time buyers or out-of-towners by surprise because of how different the process is. For example, many New Yorkers used to submitting multiple, completely non-binding offers [...]
A small real estate investor shares and compares her experiences with owning and managing residential rental properties in NYC and South Florida.
Real Estate Investing in NYC vs. South Florida
I am a very small real estate investor in New York City and South Florida, and wanted to point out a few similarities and differences in being a landlord in each state. My primary residence is in New York, where [...]
The biggest, secret reason besides high cost of living, high taxes and lockdowns that explains why people are leaving New York en masse.
Why are people leaving New York in droves?
Whatever your political beliefs, it's undeniable that New Yorkers are fleeing the state and NYC in particular. So why are people fleeing New York in droves? Is it because of current events like the pandemic or more endemic issues that [...]
Detailed Miami buyer closing cost calculator incorporating local norms for whether the buyer or seller pays certain property closing costs.
Miami Buyer Closing Cost Calculator
Miami Buyer Closing Cost Calculator Purchase price Are you financing with a mortgage? No/Yes Loan amount Are you buying a house or condo? Condo House Email Me The Results Email Me The Results Send Estimated closing costs Title insurance Settlement [...]

Glossary

Realtor commission

In a traditional, exclusive right to sell listing agreement, the seller agrees to pay typically 6% of the sale price in commission to the listing broker (i.e. seller’s broker) as long as a “ready, willing and able” buyer is found. This commission is often split equally in accordance with local MLS rules with the buyer’s agent, if any.

Title insurance

Title insurance protects the buyer of a home from defects in the title not caught by the title and municipal lien search, subject of course to certain exceptions to coverage. Title insurance is required by lenders if the buyer finances his or her home purchase. In Miami-Dade County it’s customarily for the buyer to pay for title insurance.

Florida Documentary Stamp Tax

Florida levies a Documentary Stamp Tax on deed transfers, also known as a transfer tax, on sellers when real property is sold. In all Florida counties except Miami-Dade, the tax rate is 0.7% of the total consideration. In Miami-Dade county, the tax rate is 0.6% on single-family home sales and 1.05% on anything else.

Title and lien search fees

The title search looks at the chain of title (i.e. the property’s ownership history) to see if there are any defects in the title (i.e. liens, judgments) and that the seller is the true owner of the property. A municipal lien search looks for code violations, water and sewer unpaid balances and open or expired permits. In Miami-Dade County, it’s customary for the seller to pay for the title and lien searches.

HoA estoppel letter fees

An estoppel letter from the HoA or condo association is a legally binding document that confirms whether the seller is up-to-date with payments, the amount of any outstanding payments, the amount of any special assessments, the current rate of HoA dues or condo common charges and other pertinent information.

Wire transfer fees

Typically $25 to $50, if any, to reimburse the escrow agent for bank fees.

Document preparation fee

Typically $400 to $600, charged by the Florida closing attorney and different from the settlement or closing fee which is usually paid by the buyer.

Transaction fee

An approximately $300 fee charged to both the buyer and the seller, payable to the real estate broker, for document storage and other transaction related services. Can be disputed by the buyer who will usually be surprised by this charge.

Scroll to Top