Seller’s Net Sheet
Closing costs are the fees paid to third parties that help facilitate the sale of a home, and they vary widely by location.
In South Florida, the approximate total Seller’s expenses is about 7.4% of the total sale price and the following are the list of these expenses:
- Title search – Research the title in the public records to verify ownership, that title is clear and that no liens or outstanding claims are tied to the property.
- Closing fee – Covers all administrative services provided to clear and report all issues and requirements with all key players in the transaction.
- Owner’s Title Insurance policy – Insures the new owner has clear title and ownership. Typically paid for by the Buyer in Broward and Dade counties and by the Seller in Palm Beach county.
- Real estate sales commission – Fees paid to the Realtors for their services
- Payoff of existing mortgage(s)
- Home warranty (if offered by seller). Contact us if you want to add this to your package.
- Homeowner’s Association Estoppel Fee (HOA pay-off statement)
- Homeowner’s Association Dues prorated to date of closing
- Taxes prorated to date of closing – An adjustment to ensure that both the seller and the buyer pay their share of the annual property taxes for the time they owned the property.
- Doc stamps on deed $.70 per $100 based on sales price (Miami-Dade counties $.60 per $100) – Charges by local government entities to record the transfer of property and make it matter of public record.
- Lender fees, if applicable and specific charges exists (including pay-off fee)
Contact us in order for us to draft a Seller’s Net Sheet for you.
DISCLAIMER: There is NO WARRANTY, express or implied, for the accuracy of this information. All costs and totals contained in this statement are ESTIMATES ONLY and are not to be construed as actual closing figures. Please consult your own professional advisor.