Closing costs for BUYER
 

I just put a contract on a home in the Villages thru the Villages. What can I expect my total closing costs to be?

Realtor should provide this information

If it is a new house and you are paying cash, you will only pay pro-rated amounts for the amenity fee, bond payments, maintenance fee, and County taxes, based on what has already been paid by the seller. They will be pro-rated on a daily basis from the date of sale. Any other costs would be related to a mortgage, which will vary depending on the bank requirements. If it is a pre-owned house, any costs related to the sale are negotiable, and should be spelled out in the sales contract.

Closing Costs in Florida

While they vary from state to state, the amount you’ll pay in Florida depends on both the property and the county it sits in. As a buyer, you’ll have to cover most of the fees and taxes.

At the moment, you can expect to pay between 1.86% and 2.79% of the total purchase price before taxes.

The average closing costs in Florida come to approximately 1.98% of the purchase price. It may seem insignificant, but the amount you have to pay can quickly climb if you’re buying an expensive home.

Across the state, the average home sells for somewhere between $200,000 and $300,000. If you buy a property in that range, expect to pay between $1,620 and $2,430 in closing costs before taxes. That amount accounts for appraisal, settlement and recording fees, along with title insurance and flood certification — which is required by the state.

In Florida, you’ll also have to post a fee for documentary stamps (or doc stamps), which is a percentage of the sales price. Then there are the taxes. You’ll likely be subject to property and transfer taxes — when you add those in, you’re looking at around $5,585 in closing costs after taxes. Remember, these are averages.

Didn’t you ask the realtor? You can ask for a preliminary HUD statement that will show all your cost.

If you are buying a new home, your agent will send you a good faith estimate of closing costs.