When you sell, the number that matters is not the sale price. It is what you keep after the mortgage payoff and closing costs. Knowing those costs early helps you set a realistic price, compare offers and plan your next purchase.
Below are the costs sellers in Miami-Dade and Broward most often see. Exact amounts depend on your property, your contract and your loan, so your closing agent’s settlement statement is the final word.
Real Estate Commission
Commission is usually the largest seller cost. It is negotiable and is agreed in your listing agreement. How buyer’s agent compensation is handled, and whether you offer to contribute to it, is also something you decide and negotiate.
Documentary Stamp Tax on the Deed
Florida charges a documentary stamp tax when a deed is recorded. Statewide, the rate is $0.70 per $100 of the sale price. Miami-Dade County uses a different structure: $0.60 per $100 for a single-family residence, with an additional surtax of $0.45 per $100 on other property types.
In Florida this tax is customarily paid by the seller. Your closing agent will confirm which rate applies to your property.
Mortgage Payoff
Your lender will provide a payoff statement showing the principal balance, interest through the payoff date and any fees. Interest is usually paid in arrears, so the payoff is often higher than the balance on your last statement. If you have a home equity line of credit or a second mortgage, those are paid off too.
Property Tax Proration
Florida property taxes are paid in arrears, for the calendar year, typically in November or later. At closing, taxes are prorated: the seller credits the buyer for the portion of the year the seller owned the property.
Title and Closing Charges
In Miami-Dade and Broward, the buyer customarily pays for the owner’s title insurance policy and chooses the title agent. Sellers still commonly pay some charges, which may include:
- Fees for the seller’s own attorney, if you hire one
- Recording fees for documents that clear your title, such as a mortgage satisfaction
- Municipal lien and permit searches, when the contract assigns them to the seller
- Curing title issues: open permits, old liens or code violations
Open permits and code violations can delay a closing, so it is worth checking them before listing.
Condominium and HOA Charges
If your property is in an association, expect:
- Estoppel certificate: the association’s statement of what is owed on the unit, needed for closing. There is a fee to prepare it.
- Prorated association fees through the closing date.
- Special assessments: who pays an assessment that is already levied, or approved but not yet due, is set by the contract. Make sure it is addressed clearly.
- Transfer or application fees, depending on your documents.
Repairs and Credits
After inspections, buyers may ask for repairs or a credit. Some contracts also include a repair limit the seller agrees to cover. These are negotiated, but they belong in your net proceeds estimate.
Foreign Sellers: FIRPTA Withholding
If the seller is a foreign person for U.S. tax purposes, federal law (FIRPTA) generally requires the buyer to withhold a percentage of the amount realized and send it to the IRS, unless an exception or reduced rate applies. The withheld amount is credited against the seller’s U.S. tax. Foreign sellers should speak with a CPA or tax attorney well before closing, since applying for a withholding certificate takes time.
Capital Gains
Taxes on any gain are not a closing cost, but they affect what you keep. Rules for a primary residence, investment property, inherited property and 1031 exchanges differ. Ask your CPA before you sign a contract, not after.
Getting an Estimate for Your Property
A seller net sheet lists your expected costs line by line so you can see your likely proceeds at different prices. Mariya prepares one alongside her property valuation, so you can decide on price and timing with the full picture. Call or text her at (646) 678-6477 to start.
Frequently Asked Questions
Who pays the documentary stamp tax on the deed in Florida?
It is customarily paid by the seller, and the standard Florida contract forms assign it to the seller by default. As with most costs, it can be negotiated differently in the contract.
Who pays for the owner's title insurance policy in Miami-Dade and Broward?
In Miami-Dade and Broward, the buyer customarily pays for the owner's title policy and chooses the title agent. In much of the rest of Florida the seller customarily pays. The contract controls.
Are real estate commissions set by law?
No. Commissions are negotiable between you and your brokerage, and whether the seller contributes to the buyer's agent's compensation is also a matter of negotiation.
When do I get my net proceeds?
The closing agent pays off your mortgage and other obligations and disburses your net proceeds after the deed and closing documents are signed and the transaction is funded, usually by wire transfer.
This article is general information, not legal or tax advice. Florida laws, county rules, association documents and contract terms vary and change over time. Confirm how they apply to your transaction with a Florida real estate attorney, CPA or your closing agent. Mariya Stoyanova, P.A. is a licensed real estate sales associate, not an attorney or tax advisor.