Seller closing costs in Miami-Dade and Broward

Most sellers ask one question first: what will I walk away with? Here is how closing costs usually work in Miami-Dade and Broward, so the numbers on your net sheet make sense.

Florida documentary stamp tax on the deed

Florida charges a documentary stamp tax when the deed is recorded, and in a resale the seller customarily pays it.

• Broward and every county except Miami-Dade: $0.70 per $100 of the sale price. On a $600,000 sale that is $4,200.
• Miami-Dade: $0.60 per $100. Miami-Dade also has a $0.45 per $100 surtax, but it does not apply to a deed that transfers only a single-family residence. On a $600,000 single-family sale that is $3,600.

Title insurance and searches

In Miami-Dade and Broward, the custom is for the buyer to pay for the owner's title insurance policy and choose the closing agent. The seller usually pays for the title search and the municipal lien search. These are customs, not laws, and the contract decides.

Your mortgage payoff

Any loan on the property is paid off at closing from the sale proceeds. Ask your lender for a payoff letter good through your closing date; daily interest adds up.

Other common costs

• Agent commission, which you agree on with your listing agent.
• HOA or condo estoppel letter showing what you owe the association.
• Prorated property taxes. Florida taxes are paid in arrears, so the seller usually credits the buyer for the part of the year they owned the home.
• Any repairs or credits you agree to after the inspection.

Get your real number

Every sale is different. Before you list, Danielle or Simone puts together a full net sheet with your actual payoff, taxes and costs, so there are no surprises at the closing table.