What a new-construction condo costs to close in Palm Beach County
Budget about 2 percent on top of the price
- Closing costs on top of the price
- About 2%
- Closing costs on top of the price
- Florida deed documentary stamp tax
- 0.70%
- Florida deed documentary stamp tax
- Typical developer or closing fee
- 1.5% to 1.75%
- Typical developer or closing fee
- Owner's title policy on $5 million
- About $15,675
- Owner's title policy on $5 million
On a Palm Beach County resale, custom puts the deed stamp tax and the owner's title policy on the seller. A developer contract moves both to the buyer, usually bundled as a developer fee of about 1.5 to 1.75 percent, with the owner's title premium paid at Florida's promulgated rate. A cash buyer of a $5 million residence should budget roughly $87,500 to $138,000 beyond the price, and financing adds note stamps and intangible tax.
The short answer
- Florida's deed documentary stamp tax is 70 cents per $100 of price everywhere except Miami-Dade.
- Palm Beach County custom puts the deed stamps and the owner's title policy on the seller; developer contracts shift both to the buyer.
- The shift is often expressed as a developer or closing fee of 1.5 to 1.75 percent of the price.
- Financing adds 0.35 percent note stamps and 0.2 percent intangible tax on the loan amount.
- Developers typically cover the buyer-broker commission, which is what funds the rebate.
Florida statute sets the stamp and title rates
The deed and the loan are taxed by statute. Section 201.02 taxes deeds at 70 cents per $100 of consideration, which comes to $35,000 on a $5 million purchase. A promissory note carries 35 cents per $100 and a mortgage a non-recurring intangible tax of two mills. A $2.5 million loan therefore adds $8,750 in note stamps and $5,000 in intangible tax.
Owner's title insurance follows Florida's promulgated rate: $5.75 per thousand to $100,000, $5.00 to $1 million, $2.50 to $5 million, $2.25 to $10 million and $2.00 above. That prices a $5 million policy at roughly $15,675. With the rates fixed, the open question is who pays each line.
Developer contracts move the seller's costs to the buyer
A West Palm Beach law firm's 2026 summary confirms the local custom on resales. A title company's guidance and a Compass pre-construction analysis confirm the shift in developer contracts and the 1.5 to 1.75 percent figure, which we were unable to confirm in a published developer contract. The range is a figure to check against the purchase agreement itself.
A $5 million cash purchase closes for about 2.8 percent
Take a $5 million all-cash purchase with a 1.75 percent developer fee. Deed stamps come to $35,000, owner's title to about $15,675 and the developer fee to $87,500, a total near $138,000 or 2.8 percent. Some contracts fold the deed stamps and title into the developer fee, and then the total falls to about $87,500.
Association working capital and recording fees come on top of either figure. The closing cost estimator on this site runs both cases and adds financing.
Developers almost always pay the commission to the buyer's broker. That is why registering with Premier Listings before the first gallery visit costs the buyer nothing and funds the credit returned at closing.
General information, not legal or tax advice. Statutes change and the sources are dated. For every new tower with its figures and floor plans, open the index.
Questions this article answers
What are closing costs on a new construction condo in Palm Beach County?
Budget about 2 percent on top of the price. Developer contracts shift the deed stamps and the owner's title policy to the buyer, usually through a developer fee of about 1.5 to 1.75 percent. Financing adds note stamps and intangible tax.
Who pays documentary stamp tax on a new condo deed in Palm Beach County?
In a typical developer contract, the buyer pays. On a resale, Palm Beach County custom puts the deed stamps on the seller. Developer contracts shift them to the buyer, often as part of a developer or closing fee.
How much is the documentary stamp tax on a condo deed in Florida?
The rate is 70 cents per $100 of price, or 0.70 percent, under Section 201.02. It applies everywhere in Florida except Miami-Dade. On a $5 million purchase, the deed stamps come to $35,000.
What is a developer fee on a pre-construction condo in Florida?
It is a closing fee, often about 1.5 to 1.75 percent of the price, that moves seller-side costs to the buyer. The range comes from a title company and a Compass analysis and was not confirmed in a published developer contract. Check the figure in the purchase agreement.
Who pays for owner's title insurance on a new condo in Palm Beach County?
The buyer pays in a typical developer contract, at Florida's promulgated rate. On a resale, Palm Beach County custom puts the owner's title policy on the seller. A buyer who finances also pays the lender's policy in both cases.
How is owner's title insurance priced in Florida?
It follows Florida's promulgated rate: $5.75 per thousand to $100,000, $5.00 to $1 million, $2.50 to $5 million, $2.25 to $10 million and $2.00 above. On that scale, a $5 million policy costs roughly $15,675.
What extra closing costs apply when a buyer finances a new condo in Florida?
Financing adds 0.35 percent note stamps and 0.2 percent intangible tax on the loan amount, plus the lender's title policy. On a $2.5 million loan, that is $8,750 in note stamps and $5,000 in intangible tax.
How much does it cost to close on a $5 million new condo in Palm Beach County?
Near $138,000, or 2.8 percent, for an all-cash purchase with a 1.75 percent developer fee. That covers $35,000 in deed stamps, about $15,675 in owner's title and $87,500 in developer fee. If the fee already includes the deed stamps and title, the total falls to about $87,500.
Does the developer pay the buyer's broker commission on a new condo in Palm Beach County?
Typically, yes. Developers almost always pay the commission to the buyer's broker, while on a resale it is negotiated. Registering with a buyer's broker before the first gallery visit therefore costs the buyer nothing.
SourcesShow
- Section 201.02, Florida Statutes: Tax on deeds and other instrumentsFlorida Legislature · 2026
- West Palm Beach real estate closing costs: what buyers and sellers actually payKelley, Grant & Tanis, P.A. · January 9, 2026
- Closing costsWeston Title & Escrow · 2026
- Miami pre-construction closing costs breakdown 2026LuxuryDade at Compass · April 13, 2026
