Closing cost estimator
Built on Florida’s statutory stamp and intangible rates and the promulgated title schedule, with the developer fee as a setting because it is a contract term rather than a law.
Developer fee
Financing
Estimated closing costs
$138K
Share of price
2.75%
- Documentary stamp tax on the deed0.70% of price. Paid by the buyer in most Florida new-development contracts.$35,000
- Owner's title insuranceFlorida promulgated rate. Developers usually choose the title agent.$15,075
- Developer fee (1.75%)Charged by most South Florida developers to cover their own closing costs.$87,500
Excludes recording fees, lender fees, prepaid association dues and any working-capital or capital contribution the developer sets. Those are building specific and appear in the purchase agreement.
Get the exact closing figures for your building
Developer fees and who pays the stamps differ by contract. We will send the actual terms from the purchase agreement.
- The current price release and what remains
- Floor plans for the residences that fit you
- Deposit terms and our independent notes
Questions
Closing cost questions
Who pays documentary stamp tax on a new condo in Florida?
By Palm Beach County custom the seller pays the deed stamps on a resale, but developer contracts nearly always shift them to the buyer, often inside a developer fee of 1.5 to 1.75 percent. The rate is 70 cents per $100 of price statewide outside Miami-Dade, or $35,000 on a $5 million residence.
What is the developer fee?
A charge in most South Florida pre-construction contracts, commonly 1.5 to 1.75 percent of the price, that covers the developer's closing costs including deed stamps and title and, in some contracts, marketing. Whether it includes or sits on top of the stamps and title premium varies; the estimator lets you model both.