Seller's Guide
Most Florida sellers net between 7% and 10% less than their contract price once transfer taxes, commission, title and prorations are settled. Below is every line you should expect on a Broward, Palm Beach or St. Lucie closing statement — and where smart preparation wins more than cost-cutting does.
Florida charges a documentary stamp tax on the deed when a property transfers. Outside Miami-Dade County the rate is $0.70 per $100 of the sale price — roughly $7,000 on a $1,000,000 sale. Miami-Dade uses $0.60 per $100 on single-family homes, plus a surtax on other property types. In most of Broward, Palm Beach and St. Lucie counties, the seller customarily pays it.
Commission is always negotiable and is agreed in writing before listing. Since the 2024 industry changes, compensation offered to a buyer's broker is negotiated separately rather than published in the MLS, so sellers have more control over the structure than they used to.
Florida sets a promulgated rate schedule for the owner's title policy. Who pays it is customary by county: in Broward, Miami-Dade, Sarasota and Collier the buyer usually pays; in Palm Beach, St. Lucie and most other counties the seller usually does. Settlement, search and closing-agent fees are separate line items.
Florida property taxes are billed in arrears, so at closing you credit the buyer for the portion of the year you owned the home. A November closing leaves you responsible for about ten months of the tax year.
Association-governed properties need an estoppel letter confirming dues and balances. Florida caps what an association may charge, with higher caps for rush or delinquent-account requests. Special assessments already levied are usually settled by the seller.
Inspection findings, wind mitigation, roof age and four-point insurance reports drive real dollars in South Florida. Addressing them before listing usually costs far less than conceding them under contract, when the buyer holds leverage.
This is the only cost that is genuinely an investment rather than a deduction. Staged, correctly prepared homes sell meaningfully faster and present better in photography — but only when the spend is directed at what appraisers and buyers actually pay for.
Your mortgage payoff, any home-equity line, recording of the satisfaction, courier and wire fees, plus the intangible tax if a new mortgage is recorded, all appear on the settlement statement.
Transfer taxes and prorations are fixed by statute and calendar. What you control is the preparation, pricing and negotiation that decide the number at the top of the statement.
Figures are general guidance for Florida sellers, not legal, tax or accounting advice. Rates, county customs and association caps change — confirm your numbers with your closing agent and tax professional. Questions? Email thomas@lokationre.com.
