Estimate Your Closing Costs
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Disclaimer: These are estimates only. Actual closing costs vary by lender, title company, state/county, and closing date. Your Loan Estimate (TRID) is the source of truth.
Florida Closing Costs Breakdown
Closing costs in Florida typically range from 2% to 5% of the home's purchase price. For a median-priced home of $400,000, buyers can expect to pay between $8,000 and $20,000 at closing. Florida has several unique state-specific taxes, including the documentary stamp tax and the intangible tax on new mortgages, that make the closing cost landscape different from most other states.
Transfer Taxes & Fees
Florida charges a Documentary Stamp Tax on the deed at $0.70 per $100 of the sale price, or 0.70%. In Miami-Dade County, the rate is $0.60 per $100 plus a $0.45 surtax for non-single-family properties. The seller customarily pays the deed doc stamp tax in most Florida counties. Buyers pay a separate documentary stamp tax on their mortgage note at $0.35 per $100 of the loan amount, plus an intangible tax of 0.2% of the loan amount.
Attorney Requirements
Florida is a title company state and does not require a licensed real estate attorney to conduct residential closings. A licensed title agent or settlement company manages the closing process. Buyers may choose to hire a real estate attorney for added legal protection, which is entirely optional. In South Florida, in particular, many transactions involve title companies without attorney involvement.
Local Quirks & Need-to-Know
Florida buyers face unique costs that do not exist in most other states. The intangible tax on new mortgages at 0.2% of the loan amount adds hundreds of dollars for most buyers. Florida also has no state income tax, which is a long-term ownership benefit. Properties in homeowners associations (HOAs) require estoppel letters from the HOA, which can cost $100 to $400 each and are required before closing to confirm outstanding balances. Community Development District (CDD) fees also appear as an annual line item on tax bills in many master-planned communities.