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All I Care About is How Much Money$$$ I Will Receive After I Sell my House!!

Sometimes, when I speak with a seller, they ask me how much my fee is for selling their home.  My commission is NOT the only fee they will have to pay when they sell their home, my commission will be the only fee they pay to me, the agent, but there are other fees involved that will be collected by other entities.  At the end of the day, all the homeowner cares about is how much money they will pocket after the sale.  This is the disclosure of the closing cost that will be paid by the seller, and the amounts presented here may vary, but the total is a good estimate of how much it is going to cost you to sell your home in Florida.


1. Title Insurance

When selling your home in Florida, it is customary that the seller pays for the Title Insurance policy.  This is a policy that gives the buyer the security that the title is clean and there are no pending claims against the home.  The company that issues that Title Insurance policy will pay to defend the homeowner in court if anyone challenges his Title and will compensate him if he loses.

The cost of the Title Insurance Police can be calculated with this formula:

(Sales Price – 100,000)/(1,000 * 5) + 575


2.  Stamps on the Deed

Also called the documentary stamp tax and it is paid to the county clerk or recorder when the deed is recorded.  The formula to calculate this cost in Florida is:

Sales Price * 0.007

Keep in mind that different counties may have different ways to calculate this fee.


3.  Title Fees

A title company makes sure that the title to a property is legitimate and then issues title insurance for that property.  Title companies also maintain escrow accounts, which contain the funds needed to close on the home, to ensure that this money is used only for settlement and closing costs, and may conduct the formal closing on the home. At the closing, a settlement agent from the title company will bring all the necessary documentation, explain it to the parties, collect closing costs and distribute monies. Finally, the title company will ensure that the new titles, deeds and other documents are filed with the appropriate entities.

Every Title company charges a different fee, but for the purpose of an estimate we will use $450.


4.  Recording Fees

This is what the county where your property is located, charges to record the new dees and it is $75 in Pinellas County.


5.  Home Warranty

A Home Warranty is not an expense that the seller is obligated to pay, but homeowners offer a Home Warranty to make their home more attractive to buyers.  Many transactions close without the seller having to pay for a Home Warranty for the buyer.

A Home Warranty is a service contract that will help safeguard against the cost of covered repairs or replacements to the major components of home systems and appliances that fail due to normal wear and tear.

The average cost of a home warranty is $400 and it is specified in the contract the maximum value the seller will pay for this.


6.  Express Fees

Basically, Mail Fees in case anything needs to be mailed to the seller.  You can budget $50 for Express Fees.


7.  Broker Professional Fee

 This is what your agent or broker will charge to sell your home.  There is not a set fee but most agents charge 6% of the sales price.  In case an agent from a different office finds the buyer for your home, the broker fee will be split between the two agents or brokers involved in the transaction.  The formula to calculate this fee would be:
Sales Price * 0.06
The next figure shows how much your closing costs will be when you sell your home (yellow line).  I have included in this example three different sales prices, $100,000, $200,000 and $300,000.
You will NET at closing:

Sales Price – Estimated Sales Cost (yellow line) – Mortgage Balance


This is an estimate based on current local charges and it doesn’t guaranty that expenses will not exceed or be less than the estimate.  For a more detailed explanation on Closing Costs when selling your home call Kate at Assure Title  727 793 0070

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(1) Comment

  1. Anonymous

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