SETTLEMENT COSTS (FL COSINGS ONLY)

Estimated Costs

You can read the article What Will Your House Really Cost?, from the Washington Post newspaper to learn more about the costs involved. Clients may be entitled to certain discounts on their next settlement. Items marked with a red $ may qualify for a discount. A Settlement Sheet is divided into several categories as follows:

• Lender Items to Borrower may include:
  • "Points" 1 point =1% of loan amount
  • Appraisal/Application Fees
  • Credit Report Fees
  • Document Preparation Fees
  • Underwriting Fees
  • Flood Certification Fees
  • Tax Service Fees
  • Processing Fees
  • Interest Rate Lock-In Fee
  
  
• Lender Prepaid's:
  • Real Estate Tax Escrows
  • Hazard Insurance Escrows
  • Interim Interest
  
  
• Title Items:

  Buyer's Fees
  Settlement Fee	$300
  Title Search/Abstract	$225
  Title Insurance Binder	$100
  Notary fee/Doc Prep	$50
  Delivery/Fax/Copy/Admin Fee	$65
  Courier Recording Service	$35
  Title Insurance (Owner's and Lender's Policy)	$5.75 per 1000 of sale price + $25 for lender's policy (endorsements extra)

  
  

  Seller's Fees
  Settlement Fee	$300
  Title Search/Abstract	$225*
  Doc Prep/Notary	$50
  Prepare and Process Release	$100
  Deliver/Fax/Copy/Admin Fee	$18.75
  Tax and Lien Search	$170
  * Contract may require Seller to pay

  
  
  • Title Examination (Avenue does not charge extra)
  • Multiple payoffs (refis)     $35 each
  • Title Clearance (if necessary)     $110-210/hour
  
  
• Florida Fees (Doc Stamps and Tax are per $100)

  		Borrower	Seller
  Documentary Stamps (Deed) (based on purchase price)	Miami-Dade		.60¢
  	Rest of Florida		.70¢
  Documentary Stamps (Mortgage) (based on loan amount)		.35¢
  Intangible Tax (based on loan amount)		.20¢
  Miami-Dade Recording Fees (1st page = $10, $8.50/page thereafter
  Deed (approx. - calculated by number of pages)		$18.50
  Mortgage (approx. - calculated by number of pages)		$205.50
  Releases (approx. - calculated by number of pages)			$18.50

  
  
• Miscellaneous fees if applicable:

  	Borrower	Seller
  Survey	$200 - 600
  Termite Inspection	$65
  Additional Wire/Courier/Overnight	$35	$35
  E-Storage Fee	$45