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How Much are Closing Costs in Florida?

How Much are Closing Costs in Florida

Table of Contents

What is Closing Cost?

Closing costs are essential expenses that come with finalizing a real estate transaction. They encompass various fees and charges, including lender fees, title fees, and government fees. In Florida, understanding how much closing costs are can help buyers and sellers prepare for their financial obligations in the home buying or selling process.

Who Pays Closing Costs in Florida?

In Florida, both buyers and sellers contribute to the closing costs. The specific fees each party covers can vary, but typically, the buyer handles costs such as lender fees, appraisal fees, and title insurance, while the seller covers real estate agent commissions, title transfer fees, and document stamps. It is crucial to understand who is responsible for which costs to avoid surprises during the closing process.

How Much are Closing Costs for Sellers in Florida?

Sellers in Florida should expect to pay closing costs that range from 1% to 3% of the home’s sale price. These costs include:


Realtor fees, also known as real estate agent commissions, are generally the largest expense for sellers. In Florida, the average commission rate is around 6% of the home’s sale price, which is typically split between the buyer’s and seller’s agents.

Recording Fee

Sellers may also need to pay a recording fee to release the mortgage on the property. In Florida, recording fees vary by county, but they typically range from $10 to $30.

Escrow Fee

Escrow fees are charged by the escrow company for managing the funds and documents during the transaction. In Florida, these fees can range from $150 to $500, depending on the value of the property and the complexity of the transaction.

Home Inspection Fee

While not always required, sellers may choose to have a pre-listing home inspection performed. This can help identify any potential issues with the property and make necessary repairs before listing. Home inspection fees in Florida typically range from $300 to $500.

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How Much are Closing Costs for Buyers in Florida?

Buyers in Florida should expect to pay closing costs that amount to approximately 2% to 5% of the home’s purchase price. These costs include:

Homeowner Fees

Buyers may be responsible for paying homeowner association (HOA) transfer fees and initial dues when purchasing a property in a community with an HOA. Transfer fees can range from $100 to $400, while initial dues vary depending on the community’s rates.

Lender Fees

Lender fees cover the costs associated with processing the loan, such as the loan origination fee, underwriting fee, and credit report fee. These fees can vary depending on the lender and loan product but generally range from 0.5% to 1% of the loan amount.

Third Party Fees

Buyers are also responsible for various third-party fees, such as title insurance, which protects against title defects and liens, and appraisal fees, which ensure the property’s value is in line with the purchase price. Title insurance fees typically range from $500 to $3,500, while appraisal fees usually cost between $300 and $500.

In conclusion, closing costs in Florida vary based on the property’s value and the specific fees each party is responsible for. By understanding and preparing for these expenses, buyers and sellers can avoid surprises and ensure a smoother closing process.

How are Closing Costs Calculated?

If you’re wondering how much are closing costs in Florida, it’s important to understand how these costs are calculated. Generally, closing costs are determined based on the property’s purchase price and the specific fees each party is responsible for. They can range from 2% to 5% of the home’s value, and include lender fees, title fees, government fees, and other miscellaneous charges. To estimate your closing costs, you can use online calculators or consult with your real estate agent, lender, or title company to get a more accurate breakdown.

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Closing Costs in Florida for Refinance

Refinancing a mortgage in Florida also comes with its own set of closing costs. While the fees may vary slightly compared to a home purchase, they still typically amount to 2% to 5% of the loan amount. Common closing costs for refinancing in Florida include lender fees, appraisal fees, title insurance, and recording fees. As with a home purchase, it’s essential to shop around for the best loan terms and to negotiate with your lender to potentially lower your closing costs. Keep in mind that refinancing costs may be rolled into the new loan, which could affect your monthly mortgage payment and the overall cost of the loan.

How Much are Closing Costs in Florida?

When it comes to determining how much are closing costs in Florida, there are different factors to consider. Closing costs can vary depending on the property’s value, location, and the specific fees each party is responsible for. In Florida, homebuyers can expect to pay an average of 2.58% of the purchase price, while sellers typically cover 7-9% of the home’s purchase price in closing costs.

Buyer Closing Costs in Florida

For buyers in Florida, the average closing costs amount to 2.58% of the home’s purchase price. This means that if you buy an average-priced home in Florida for $225,000, you can expect to pay approximately $5,800 in closing costs. However, in major cities like Tampa, where the average home price is $323,000, closing costs can reach around $8,300.

It’s important to note that some costs, like survey fees, can vary based on the property and location. Additionally, fees such as appraisal fees can differ by city or county. Therefore, it’s best to estimate on the high side when budgeting for closing costs. Some common buyer closing costs in Florida include:

  • Prorated HOA charges and approval fees
  • Survey fee ($200-$800 based on land size; $400-$500 is typical)
  • Appraisal fee ($400-$500)
  • Credit report ($50-$75)
  • Loan origination fees (varies)
  • Home inspection ($375-$450)
  • Recording fees ($50-$250)
  • Wood Destroying Organism inspection ($75-$300)
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Keep in mind that these are approximations and can vary depending on your circumstances.

Seller Closing Costs in Florida

Sellers in Florida can expect to pay between 7% and 9% of the home’s purchase price in closing costs, which includes commission fees for real estate agents. For an average-priced $225,000 home, this equates to a range of $15,750 to $20,250. As with buyer closing costs, these fees can vary depending on the location, property, and the companies you work with. Some common seller closing costs in Florida include:

  • Real estate commission (up to 6% of purchase price)
  • Transfer taxes/documentary stamp (selling price of home divided by 100, then x .7)
  • Promissory note (mortgage amount divided by 100, then x .35)
  • Intangible tax (promissory note amount x .002)
  • Title search fee ($1,500-$2,200)
  • Property taxes (prorated for the time the seller lived in the home)


Robbi Cahya Yudha

As an experienced professional in the mortgage loan and property market, Help individuals and families achieve their homeownership dreams.  My mission is to simplify your real estate journey and secure the best possible outcomes in this ever-changing market.