How much are closing costs for a buyer in Florida?

Short answer

A Florida buyer with a mortgage typically pays about 2% to 4% of the purchase price in closing costs, plus prepaid taxes, insurance, and escrow deposits on top; on a $500,000 Miami-Dade purchase with a $450,000 loan, the state taxes alone are $1,575 in documentary stamps on the note and $900 in intangible tax, before title insurance, lender fees, appraisal, and recording. Who pays the owner's title policy flips by county: in Miami-Dade and Broward the buyer customarily pays it and picks the title agent, while in most of the rest of Florida the seller does. Everything is negotiable in the contract.

The Florida state taxes on a purchase

Florida has no state income tax but it does tax real estate transactions. Three taxes show up at closing, per the Florida Department of Revenue (GT-800014) and Florida Statutes 199.133, as of October 2026:

• Documentary stamp tax on the deed: $0.70 per $100 of the purchase price statewide. Miami-Dade is different: $0.60 per $100 on a single-family residence, and $0.60 plus a $0.45 surtax per $100 on other property, including most condos. By custom the seller pays the deed stamps in South Florida.
• Documentary stamp tax on the note: $0.35 per $100 of the mortgage amount. The buyer pays this because it is the buyer's loan.
• Nonrecurring intangible tax on the mortgage: 2 mills, or $2 per $1,000 of the mortgage amount. Also the buyer's.

On a $450,000 loan: $450,000 / 100 x $0.35 = $1,575 in note stamps, and $450,000 x 0.002 = $900 in intangible tax. Together, $2,475, or 0.55% of the loan. Cash buyers pay neither.

Title insurance and settlement fees

Florida sets title insurance premiums by rule (Florida Administrative Code 69O-186.003). The owner's policy rate is $5.75 per $1,000 of coverage up to $100,000, then $5.00 per $1,000 from $100,000 to $1 million, $2.50 per $1,000 from $1 million to $5 million, and lower above that. On a $500,000 purchase: $575 + ($400,000 / 1,000 x $5.00) = $575 + $2,000 = $2,575 for the owner's policy. The lender's policy, issued at the same time, costs a minimum of $25 for coverage up to the owner's policy amount, plus standard endorsements the lender requires.

Title agents also charge a settlement or closing fee, a title search fee, and may charge for lien searches and estoppel letters on condos and HOAs. These vary by company, which is one reason the right to choose the title agent matters.

Miami-Dade vs. Broward: who pays what

Florida has no law assigning closing costs; the contract does. But local custom sets the starting point, and South Florida's custom is different from the rest of the state:

• Miami-Dade and Broward: the buyer customarily pays for the owner's title policy, the title search, and the closing fee, and therefore chooses the title company. The seller pays the deed documentary stamps and real estate commissions.
• Palm Beach and most of Florida: the seller customarily pays for the owner's title policy and chooses the title agent.
• Everywhere: the buyer pays the note stamps, intangible tax, lender fees, appraisal, survey, and recording of the mortgage; the seller pays to record the deed and any payoff and release fees.

The Florida Realtors/Florida Bar contract has a checkbox that sets who pays for title, so read it before you sign. Seller credits toward buyer closing costs are allowed within program limits. Under Fannie Mae's interested party contribution rules, that is 3% of the price when the LTV is above 90%, 6% from 75.01% to 90%, 9% at 75% or less, and 2% on investment property; FHA and VA have their own caps.

Lender fees, third-party fees, and prepaids

• Lender fees: underwriting, processing, or an origination charge. As a broker, QMS's compensation is disclosed on your Loan Estimate and is paid either by you or by the lender, never both.
• Appraisal: set by the appraisal management company; condos and jumbo loans cost more.
• Credit report, flood certification, tax service: small fixed fees.
• Survey: usually required on houses, not on condos.
• Recording fees: charged by the county clerk per page for the mortgage and deed.
• Prepaid interest: from your closing date to the end of the month.
• Homeowners insurance: the first year's premium paid at closing. In South Florida this is often the largest single line after title; windstorm coverage drives it.
• Escrow deposit: two to three months of property taxes and insurance to start your escrow account. Florida property taxes are paid in arrears, so you also receive a credit from the seller for their share of the year.
• Condo or HOA items: application fee, estoppel letter, and sometimes a capital contribution or one to two months of dues.

Your Loan Estimate, the standard federal disclosure the lender must give you after you apply, shows every one of these. Compare the Loan Estimate, not the rate alone.

Worked example: $500,000 condo in Miami-Dade, $450,000 loan

Buyer-paid items at Florida's published rates, as of October 2026 (lender, appraisal, and title company fees are estimates that vary):

• Doc stamps on note: $1,575
• Intangible tax: $900
• Owner's title policy (promulgated rate): $2,575
• Lender's policy simultaneous issue: $25 plus endorsements
• Title search, closing fee, lien search: estimate $600 to $1,200
• Lender, appraisal, credit, flood, recording: estimate $2,000 to $3,500

Closing costs total: roughly $7,700 to $9,800, about 1.5% to 2% of price. Then add prepaids: one year of insurance, two to three months of tax and insurance escrow, and prepaid interest, which can add $6,000 to $12,000 or more in Miami-Dade depending on the insurance quote. Condo HOA fees are on top.

This is why we send a written estimate before you make an offer. Ask us for one on any address and we will run the real taxes, the insurance quote, and the title rate. See also condo down payment in Miami and purchase loans.

QMS Lending is an independent mortgage broker in Doral, FL (NMLS #1781090), founded in 2018, with access to 100+ lenders. All loans are subject to credit approval and program guidelines. Rates vary daily; call 305-425-1990 for today's pricing. Equal Housing Opportunity.