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(941) 468-3852
(941) 236-6938
kari@karibattagliagroup.com
anna@karibattagliagroup.com
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  • Home
  • Sellers
    • Search Homes In Your Neighborhood
    • Selling Your Home
    • Why Are We Different?
    • Expected Seller Closing Costs
    • Selling Vacant Homes
    • Divorce & Your Home
  • Buyers
    • Search Homes For Sale
    • Our Featured Listings
    • Buy your dream house with confidence
    • Home Buying Specialist
    • Where would you like to live?
    • Get Pre-Approved!
    • Expected Buyer Closing Costs
  • Areas
  • Resources
    • Hurricane Ian Resources
    • Becoming A Florida Resident
    • Moving With Pets
    • Moving Tips
    • Our Blog
    • Privacy Policy
  • About us
    • Our Sold Listings
    • A Note From KARI
    • About Kari Battaglia
    • Awards & Designations
    • About Anna Battaglia
    • Our Mission Statement
    • Clients’ Love
    • Contact
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Expected Seller Closing Costs

Customary Seller Closing Fees and Expenses When Selling A Home In Florida

  • Pre-Listing Home Inspection - Although not required, sellers sometimes get a home inspection before listing their home to avoid surprises during the transaction. Regardless of how long you’ve lived in your home or how old it is, there could be unknown issues lurking under the surface that could derail a sale. $250-$350
  • Documentary stamp taxes (otherwise referred to transfer taxes) on the deed, which are $.70 center for each $100 of consideration paid for the property (e.g., $100,000 sales price = $700 documentary stamp tax)
  • Real estate commission, per Listing Agreement
  • Estoppel/Approval fees charged by an applicable HOA/Condominium association
  • Pro-rated property taxes (calculated from January 1 to the day before closing)
  • Payoff fees to Seller's lender(s)
  • The cost of correcting any title related defects/issues
  • The cost to remedy any survey related issues, such as encroachments

 

Expenses that can be negotiated to either Buyer or Seller

  • Owner's title insurance policy
  • Title search fees
  • Municipal lien search fees
  • Closing fees

Helpful Hints

 

If a party to the transaction is using an existing power of attorney, a copy should be delivered to the closing/title agent as soon as possible to determine if it is a valid and/or otherwise meets Florida's (and lender's) requirements. Many do not, and need to be re-executed, which can take time and cause closing delays.

 

When dealing with property in which one or more of the record owners is deceased, do not assume that the party with whom you are dealing has proper authority to deal with the property without a thorough investigation. In many cases they do not, which can lead to costly and time consuming delays.

 

If the Seller is considered a "Foreign Person" as defined by FIRPTA, Section 1445 of the Internal Revenue Code, FIRPTA may require a Buyer to withhold up to 15% of the Seller's gross proceeds unless an exemption is available or withholding certificate is provided in advance of closing. FIRPTA issues should be addressed and resolved well in advance of the closing to avoid delays.

 

Notify the closing agent if the closing is going to be a mail away as early in the process as possible to avoid delays, particularly when dealing with out of state or foreign sellers.

 

Make certain the EXACT legal name of all parties appear on the contract (particularly ALL owners of the property). Prior to closing be prepared to provide instructions to the closing agent how you would like to receive your disbursement.  You can receive a check or you can have the funds wired directly to your bank account.

Address

Veterans Realty Inc
3230 Southgate Cir, Ste 140Sarasota
FL 34239
941.468.3852
941.236.6938
kari@karibattagliagroup.com

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