Closing costs surprise a lot of first-time buyers and sellers. Here's a realistic breakdown of what to expect on a Northwest Florida closing.
Closing costs are the fees and taxes that come due when a property changes hands. They include title insurance, documentary stamp taxes, recording fees, settlement fees, and — for buyers — lender and prepaid escrow items.
In Escambia and Santa Rosa County, sellers customarily pay the owner's title policy, the deed documentary stamps ($0.70 per $100 of the sale price), the real estate commission, and their mortgage payoff.
Buyers typically pay their lender's fees, the note documentary stamps and intangible tax on the mortgage, recording fees, and prepaid items like insurance and taxes. Financed buyers also cover the lender's title policy (just $25 when issued with the owner's policy).
Every deal is different, but our free closing cost estimator and seller net sheet give you a solid ballpark for a Pensacola-area transaction. For an exact figure, just call us.
Absolute Title of Florida is your local title & closing team in Pace, serving all of Northwest Florida.
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