The main costs
Typical seller costs include agent compensation, Florida documentary stamp tax on the deed, title insurance and settlement fees depending on local custom, association payoff or transfer fees, prorated taxes and utilities, mortgage payoff and any agreed repairs or credits.
Who pays which item is partly set by custom and partly by negotiation in your contract.
Agent compensation
Commission is negotiable and is set in your listing agreement with the brokerage. Since recent industry rules, the compensation offered to a buyer's agent must be agreed in writing, and buyers may negotiate their agent's fee separately.
Ask your agent to explain every part of the fee and compare services, not only percentages.
Documentary stamps and title
Florida charges documentary stamp tax on deeds, calculated on the sale price. The seller commonly pays it, while title insurance practice differs by county. Your title company can quote exact amounts for your address.
In Miami-Dade, local custom differs from other Florida counties, so get a quote from the title company.
Association fees
Condo and HOA sellers may owe unpaid dues, transfer or estoppel fees and, if applicable, a capital contribution. Request your estoppel early and check pending assessments.
Buyers will see these costs, so unresolved balances can delay closing.
Estimate your net
Start with the expected price, subtract mortgage payoff, agent compensation, stamps and title costs, association items, prorations and repairs. Add any tax due on the gain. The result is your net proceeds before taxes.
Ask your agent for a net sheet at several price points.
Taxes
Capital gains tax may apply to the profit, with potential exclusions for a primary residence that meets IRS requirements. Foreign sellers may face FIRPTA withholding at closing, which is a prepayment of tax, not necessarily the final amount.
Speak with a tax professional before you accept an offer.
Common mistakes
Estimating from the headline price only, forgetting association items, ignoring repair credits and not planning for tax.
Another mistake is not asking the title company for a payoff and cost estimate early.
Checklist
Request a payoff letter from your lender. Order the association estoppel. Ask the title company for a seller cost estimate. Decide on repairs and credits. Get a net sheet from your agent and consult a tax professional.
Next step
Ask us for a net sheet for your property. We will show the numbers at different prices. Lidiya Tretyak is a licensed Florida real estate agent with Douglas Elliman and speaks English, Russian and Ukrainian; the first consultation is free.
This guide is general information, not legal or tax advice. Laws and programs change — confirm details with a Florida attorney and a US tax professional.
