When you sell a home in Miami, your check at closing is the sale price minus your mortgage payoff and your selling costs. Here are the main costs Miami-Dade and Broward sellers should plan for.
1. Real estate commission
Commissions are negotiable and are not set by law. Since 2024, how buyer-agent compensation is offered has changed, so ask any agent you interview to explain exactly what you will pay and what is included in their service.
2. Documentary stamp tax on the deed
Florida charges documentary stamp tax when the deed is recorded, and in most Florida sales the seller pays it by custom. Miami-Dade County has its own rate:
| Where | Rate on the deed |
|---|---|
| Miami-Dade, single-family home | $0.60 per $100 of the sale price |
| Miami-Dade, other property (condos, multifamily, etc.) | $0.60 per $100 plus a $0.45 per $100 surtax |
| Broward, Monroe and the rest of Florida | $0.70 per $100 of the sale price |
Example: on a $600,000 single-family home in Miami-Dade, deed stamps are about $3,600.
3. Title and closing fees
Expect a settlement or closing fee, a municipal lien search, recording of the mortgage satisfaction, and possibly attorney fees. Who pays for the owner's title insurance policy varies by county custom and by what the contract says; in Miami-Dade and Broward it is common for the buyer to pay, but it is negotiable.
4. Property taxes and HOA items
- Property taxes in Florida are paid in arrears, so at closing the seller usually credits the buyer for the part of the year the seller owned the home.
- HOA or condo association estoppel letters and any transfer fees, plus any unpaid dues or special assessments.
5. Repairs, credits and concessions
After the inspection, buyers often ask for repairs or a price reduction. Some sellers also offer a credit toward the buyer's closing costs to make a deal work.
6. Mortgage payoff and other items
Your lender's payoff includes interest through the closing date. If you have a HELOC, solar loan or other liens, those must be paid off too.
Taxes on your profit. Many owners who lived in the home as their primary residence can exclude a large part of the gain from federal income tax, but rules depend on your situation. Ask a CPA before you sell, especially for rentals and investment properties. This guide is general information, not legal or tax advice.
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