What are typical closing costs for a buyer and seller in Florida?
In a real estate transaction, the buyer and the seller do pay very different fees. If the buyer is paying cash for a transaction, the costs are very minimal. What they will pay is a settlement fee to an attorney and then they will have their title insurance. Other than that, there’s really few fees that are charged to the buyer. And the seller has to pay documentary stamp taxes as well as a proration of their real estate taxes and they’re usually charged a minimal doc prep fee. If the buyer is using a mortgage company the fees will be a little bit higher just because the lender will have their own fees tacked on there and then you will also have an intangible and documentary stamp taxed on the mortgage. But it’s always best to consult with a real estate attorney to represent you and that way the fees can be kept down, they can be checked at closing and make sure all the prorations are correct.