What's on the settlement statement
Expect four groups of charges: lender fees (origination, underwriting, appraisal), title charges (search, insurance, settlement agent), government recording fees and Florida transfer taxes, and prepaid items — the first year of homeowners insurance, several months of property taxes, and prepaid interest. Prepaids are the line that surprises first-time buyers; they're not a fee, they're the seed money for your escrow account.
Condo purchases add their own line items
Condominiums near Atlantic Avenue, the beach, and the Intracoastal typically involve an association application fee, a move-in or transfer fee, and an estoppel certificate confirming the seller's account is current. Some buildings also charge move-in deposits, refundable or not. Ask for the association's fee schedule during your inspection period so the final numbers match expectations.
Florida transfer taxes and negotiation
Florida assesses documentary stamp taxes on the deed and mortgage, with customary splits that vary by county and negotiation — your title agent computes the exact figures. Sellers can also credit buyers toward closing costs in the contract, which is a common ask when a home has been on the market a while or during the slower season.
Two habits that protect your money
First, get insurance quotes during the inspection period — coastal coverage affects both closing costs and your monthly escrow. Second, verify wire instructions by phone using an independently looked-up number before sending any funds; wire fraud targets real estate closings, and a two-minute call prevents it.
Let's talk it through
I'll walk you through realistic closing figures for the property type you're considering — condos, older homes and new communities all close a little differently.
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