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The Florida Keys

CLOSING COSTS

And Fees
Closing Costs to the Buyer vary depending on the Purchase Contract written. It is customary in the Upper Keys that the Buyer pays the Title Insurance Fees. However, in the Middle Keys, the Seller generally pays for the Owners Policy. If a Lender is involved in the transaction, then a survey will be required. The cost for survey work ranges from $500 +, depending on the size of the property.

In order to obtain Flood Insurance, an elevation certificate should be obtained by the surveyor at the time the survey is ordered. Surveys are a third-party charge and are billed at closing to the appropriate party. In Monroe County, three types of insurance are generally required which are: windstorm, flood and homeowners (fire) policies. The State of Florida requires documentary stamps and intangible taxes be charged to the Buyer on any mortgage and note recorded. The Seller must pay a documentary stamp tax on the sale price to the State as well.

Sunshine Title would be happy to give you a more accurate quote upon review of your Purchase Contract.


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