(954) 587-1033

Specializing in Residential and Commercial:

Real Estate Transactions

Residential and Commercial Closings and Title Insurance

Typical Associated Costs

1st Trust Title specializes in residential and commercial title insurance, real estate transactions and mortgage closing. Below you will find costs associated with a typical real estate transaction. Note there may be additional costs depending on the type and uniqueness of the transaction. For a free quote, contact us at info@ClosingAgent.com or call us today at 954-587-1033.

Conventional Mortgage

Mortgage Assumptions

FHA/VA Mortgage to Transaction Costs

Purchase Money Mortgages

 

Cash Transactions

Typical Charges to Seller:

  1. Doc. Stamps on Deed ($.70 per $100 of purchase price) (Dade County Resident $.60 per $100 of purchase price).
  2. Abstracting Cost.
  3. Tax proration/Association(s) proration to date of closing (if applicable).
  4. Satisfaction of Liens, Special Assessments and Mortgages.
  5. Rental prorations (if applicable).
  6. Real Estate Commissions.
  7. Recording fees to clear title (i.e. Sat. of Mortgage: $10 for first page +
    $8.50 for each additional page).
  8. Municipal lien and tax search fees.
  9. Settlement fee/ Document Preparation fee.

Typical Charges to Buyer:

  1. Recording fees for Deed, Association Approval, etc. ($10 for first page +
    $8.50 for each additional page).
  2. Owners Title Insurance (at minimum promulgated rate).
  3. Prepaid maintenance or recreation fees (if applicable).
  4. Prepaid Homeowner’s/Flood Insurance (if applicable).
  5. Association Approval fee.
  6. Survey.
  7. Settlement fee and Abstract Cost.
  8. Rental prorations (if applicable).
  9. Tax prorations/Association(s) proration from date of closing (if applicable).
  10. Inspection fees/Document Preparation fee.
  11. Municipal lien and tax search fees.
 

Conventional Mortgage

Typical Charges to Seller:

  1. Doc. Stamps on Deed ($.70 per $100 of purchase price)
    (Dade County Resident $.60 per $100 of purchase price).
  2. Abstracting cost.
  3. Real Estate Commissions.
  4. Payoff existing mortgage(s) and recording fee(s) for satisfaction of Mortgage(s).
  5. Tax proration/Association(s) proration to date of closing (if applicable).
  6. Settlement fee/Document Preparation fee.
  7. Municipal lien and tax search fees.

Typical Charges to Buyer:

  1. Recording fees for Deed, Association Approval, Mortgage
    ($10 for first page + $8.50 for each additional page of the document).
  2. Owners Title Insurance (at minimum promulgated rate).
  3. Loan origination and related lender charges.
  4. Doc. Stamps on Note (at $.35 per $100 of loan amount).
  5. Intangible Tax on Note ($.20 per $100 of loan amount).
  6. Simultaneous issuance of Lenders Title Insurance.
  7. Prepaid Homeowners/Flood Insurance (if applicable).
  8. Survey.
  9. Escrows (if required by lender).
  10. Tax proration/Association(s) proration from date of closing (if applicable).
  11. Inspection fees.
  12. Prepaid interest.
  13. Municipal lien and tax search fees.
 

Mortgage Assumptions

Typical Charges to Seller:
  1. Doc. Stamps on Deed ($.70 per $100 of purchase price) (Dade County Resident $.60 per $100 of purchase price).
  2. Abstracting Cost.
  3. Tax proration/Association(s) proration from date of closing (if applicable).
  4. Real Estate Commissions.
  5. Interest proration (If applicable).
  6. Amount of assumed mortgage.
  7. Transfer fee and costs as per contract. Please check with the lender as they may require approval of the buyer, increase in the interest rate and assumption and approval fees.
  8. Settlement fee/Document Preparation fee.
  9. Municipal lien and tax search fees.

Typical Charges to Buyer:

  1. Mortgage transfer fee (see 7. above - Mortgage Assumptions - Typical Charges to Seller).
  2. Existing Escrow balance.
  3. Prepaid interest (if applicable).
  4. Prepaid homeowners/flood insurance (if applicable).
  5. Prepaid maintenance or recreation fees (if applicable).
  6. Owners Title Insurance @ minimum promulgated rate.
  7. Doc. Stamps of principle balance (at $.35 per $100 of loan amount).
  8. Intangible Tax of Note ($.20 per $100 of loan amount).
  9. Association Approval Fee.
  10. Recording Fees for Deed, Condo Approval, etc. ($10 for first page +
    $8.50 for each additional page).
  11. Settlement fee/Document Preparation fee.
  12. Tax proration/Association(s) proration of date of closing (if applicable).
  13. Municipal lien and tax search fees.
 

FHA/VA Mortgage to Transaction Costs

Real Estate Transactions
Typical Associated Costs
1st Trust Title specializes in residential and commercial title insurance, real estate transactions and mortgage closing. Below you will find costs associated with a typical real estate transaction. Note there may be additional costs depending on the type and uniqueness of the transaction. For a quote, contact us at info@ClosingAgent.comor call us today at 954-587-1033.
Cash Transactions
Typical Charges to Seller:

  1. Abstracting cost.
  2. Real Estate Commissions.
  3. Doc. Stamps on Deed ($.70 per $100 of purchase price)
    (Dade County Resident $.60 per $100 of purchase price).
  4. Pay off existing mortgage(s). Recording fee(s) for
    satisfaction mortgage(s).
  5. Tax proration/Association(s) proration to date of closing (if applicable).
  6. Discount points (prevailing).
  7. Non-allowable buyer costs per FHA/VA.
  8. Settlement fee/Document Preparation fee.
  9. Municipal lien and tax search fees.

Typical Charges to Buyer:

  1. Owners Title Insurance (at minimum promulgated rate).
  2. Simultaneous issuance of Lenders Title Insurance.
  3. Title endorsements ($25 each + Florida form @ 10% of Owners and
    Mortgagee Title Insurance premium).
  4. Settlement fee.
  5. Doc. Stamps on Note ($.35 per $100 of loan amount).
  6. Intangible tax ($.20 per $100 of loan amount).
  7. Recording fees for Mortgage and Deed.
  8. Survey.
  9. VA Funding Fee/Upfront Mortgage Insurance Premium.
  10. Tax proration from date of closing (if applicable).
  11. Inspection fees (if applicable).
  12. Prorations of Maintenance fees and services contracts.
  13. Escrows (if required by lender).
  14. Association Approval Fee(s).
  15. Municipal lien and tax search fees.
  16. Loan origination and related lender charges.
  17.  

Purchase Money Mortgages

Same as Cash Transactions:
(Additional costs which are negotiable between Buyer and Seller)

  1. Recording fee for mortgages(s).
  2. Doc. Stamps on note (at $.35 per $100).
  3. Amortization schedule.
  4. Intangible Tax on Note ($.20 per $100 of loan amount).

Note: There may be other costs in real estate transactions which are unique to the transaction. Call us for a quote.


For more information, contact us. We welcome your inquiries.

1st Trust Title - Residential and Commercial Closings and Title Insurance

1st Trust Title specializes in title insurance, escrow and other real estate closing services for residential and commercial real estate purchases/closings. 1st Trust Title is an approved agent of Old Republic National Title Insurance Company and ChicagoTitle Insurance Company. 1st Trust Title is headquartered in Davie, Florida at 7320 Griffin Road, Suite 109. For additional information please call (954) 587-1033.

7320 Griffin Road,

Suite 109 Davie, FL 33314

Phone: (954) 587-1033

Fax: (954) 587-8722

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