In Florida, the largest closing cost fees are paid by the seller (title insurance policy and real estate commissions). But there are some costs buyers need to be aware of.

Here is a summary of estimated closing costs for a typical residential transaction:

• Recording of Deed: $60
• Pro-ration of property taxes for the calendar year (annual taxes are paid in arrears in Florida)
• Pro-ration of dues (HOA fees or similar)
• Property boundaries survey (if required by you or your lender): $200
• Professional property inspection: $350
• Appraisal, if required by you or your lender: $300
• Miscellaneous other fees: $150 to $300
• Transaction fee: $200
• Attorney Fees, if required by you or your lender

There are additional fees if you are taking out a mortgage:

• Documentary stamp on mortgage: 0.35 per $100 financed (e.g., on a mortgage of $250,000 the doc stamps are $875)
• Recording of Mortgage: $60
• Intangible tax on mortgage: .002 on mortgage amount (e.g., $500 on a $250,000 mortgage)
• Fees charged by your lender (processing fees, points, credit report, and so on)

The above estimates are a guideline; we’ll help you get a more specific estimate by providing you with a buyer’s “net sheet” before writing a purchase contract. Also, a week or a few days before closing, the title company provides a settlement statement (called a HUD) that states all fees, to whom they are paid, and the final amount due at closing. Together, we review this carefully prior to closing.