Title Insurance: Local customs and market practices vary by county in Florida as to who pays Owner's Title Insurance and title search fees. Many fees are based on contractual agreements with parties.
SELLER 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. .
♦ Real estate sales commission – Fees paid to the Realtors® for their services
♦ Payoff of existing mortgage(s)
♦ Home warranty (if offered by seller)
♦ 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 0.7% based on sales price – 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 exist