Are you thinking about selling your Lake Mary home?
Understanding how much the seller’s closing costs are is an important part of a real estate transaction. This is a general outline to the most common fees and charges that are paid at closing when the sale is completed. Every transaction is different and this breakdown should only be used as an example.
Sample Closing Costs for a $200,000 Sales Price:
- Real Estate Broker Fees (6%): $12,000*
- Title Policy: $1136
- Doc Stamps on the Deed: $1400
- Settlement or Closing Fee: $325
- Search Fee: $85
- HOA Estoppel Fees $50 – $250
Estimated Closing Cost Total: $15,096
Don’t Forget About Property Taxes…
Property taxes in the State of Florida are assessed on January 1st of each year, the bill is sent at the beginning of November and a discount is given if the bill is paid by November 30th. The bill is not considered late until after March 31st the following year. Most homeowners with a mortgage pay a portion of the real estate taxes each month as part of their payment and this money is placed in an escrow account so that when the bill is received in November it is paid by the mortgage company.
When you sell your home, you will be responsible to pay your share of the property taxes from January 1st through the closing date. This money will be deducted from your proceeds at closing. Once you close and your loan has been satisfied, your lender will refund the balance of your escrow account to you.
Are you ready to sell your Lake Mary Home?
Contact Lake Mary REALTOR, Debbie Summers for more information about selling your Lake Mary home. Each home sale is different, please feel free to contact me to discuss your situation and get a personalized closing cost calculation.*Real Estate Broker Fees are negotiable between a broker and the seller, the sample brokerage fee is for reference.