At Ackerman Law, we understand that the closing process can be very costly. We have a strong policy to keep our fees low and never to price gouge our clients. We guide you every step of the way so you feel confident about your decisions.
Closing costs are based both on contractual requirements and local custom. Because of this, it is hard to pinpoint and attribute exact amounts to buyer vs. seller, because every contract and transaction is different. Below is a breakdown of “typical” buyer and seller charges. Please call or e-mail us for a complimentary title quote for your closing.
A reissue credit is a credit that can be used to reduce the title insurance premium. In order to obtain the credit, the seller or homeowner must have a complete, valid Owners Title Insurance Policy.
For a sale, the credit is good for three years from the effective date of the Owner Policy. For refinances, the credit is good at any time during the homeowner’s time as owner of the property, regardless of the number of years from the effective date until now.
At Ackerman Law, reissue credits will always be honored when applicable.
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Charges to Buyer
- Recording Fees for Deed & Mortgage
- Documentary Stamps (35¢ per $100 of Mortgage Amount)
- Intangible Tax (20¢ per $100 of Mortgage Amount)
- Settlement Fee/Closing Fee
- Owners Title (Only in Broward & Miami-Dade Counties, Unless Changed by Contract)
- Abstract or Title Search (If Paying for Title)
- Lenders Title Insurance (When Obtaining a Mortgage)
- Pre-paid Non Ad Valorem County Taxes
- Realtor Transaction Fees
- Courier & Wire Fees
- Municipal Lien Search (If Paying for Title)
Charges to Seller
- Documentary Stamps on Deed (70¢ per $100 of the Closing Price)
- Owners Title Insurance (In All Counties in Florida, Except Broward & Miami-Dade)
- Abstracting or Title Search (If Paying for Title or If Required By Contract)
- Settlement Fee/Closing Fee for Document Preparation
- Ad Valorem Taxes, Prorated from January 1st to the Closing Date
- Real Estate Commission
- Municipal Lien Search (If Paying for Title or If Required By Contract)
- HOA Estoppel Letters
- Courier Fees & Wire Fees
What to Expect at Closing
Typically on the day before closing, we will have a final amount to give you of the “cash to close”. We will provide you with wiring instructions, as all “cash to close” must be in the form of a wire. All closings are conducted either in one of our many offices throughout the area or at any location which is most convenient to the clients. At closing, we will review the settlement statement and closing documents as thoroughly as the client requests. Every closing and client is different and we will take the time to explain and answer each and every question the client has. After signing, the closing will be complete. There will be documents you receive both right after closing and some which will be sent several weeks after closing.