Florida Real Estate & Closings
How Much Will I Net When Selling My Florida Home?
A seller’s guide to closing costs, mortgage payoffs and comparing the amount you may actually take home.
Start With the Bottom Line
Your sale price is not your take-home amount.
Florida seller closing costs, loan payoffs and negotiated credits all affect what you receive. Selling for $800,000 does not mean you receive $800,000—or even the difference between that price and your mortgage balance.
A seller net sheet brings those items together. It helps you estimate available proceeds before you accept an offer, plan your next purchase or commit to a moving budget.
− credits to the buyer − applicable holdbacks or withholding = Estimated seller net proceeds
Worked Example
What might an $800,000 home sale leave you?
Consider a hypothetical St. Johns County sale with a $425,000 mortgage payoff. Assume the seller pays the deed tax and owner’s title premium, agrees to a $20,000 buyer closing-cost credit, and has the following charges.
The 5% total broker-compensation figure is only an arithmetic assumption, not a required or recommended rate. The closing and administrative amounts are illustrative allowances, not an SJLG fee quote. Actual compensation and cost allocation depend on the agreements.
| Item | Amount |
|---|---|
| Sale price | $800,000 |
| Mortgage payoff | −$425,000 |
| Seller-paid broker compensation: 5% assumption | −$40,000 |
| Seller credit toward buyer closing costs | −$20,000 |
| Deed documentary stamp tax | −$5,600 |
| Owner’s base title premium: original rate | −$4,075 |
| Property-tax proration allowance | −$4,500 |
| Settlement / closing allowance | −$550 |
| Lien search report allowance | −$225 |
| HOA estoppel allowance | −$299 |
| Wire fee allowance | −$25 |
| Electronic document allowance | −$45 |
| Total deductions, including mortgage payoff | −$500,319 |
| Estimated seller net proceeds | $299,681 |
Assumptions: the entire buyer credit is permitted and applied; no title-premium reduction or endorsements; no other liens, repairs, assessments, recording or notary charges, holdbacks or withholding. The $4,500 tax proration is an allowance, not a calculation for a specified closing date. The $299 estoppel allowance is not a statutory fee cap. All actual charges require confirmation.
The result is before any income tax on the sale. Moving expenses and costs already paid outside closing are not deducted here.
Florida Seller Closing Costs
Which expenses reduce your net proceeds?
Start with your purchase contract and brokerage agreements. A cost that appears on one seller’s net sheet may be allocated differently in another transaction.
Mortgage and other lien payoffs
Your loan statement balance may not equal the payoff required at closing. A payoff can include interest through a specified date, unpaid fees and other amounts due. Obtain a current payoff quote and update it if the closing date changes.
Identify second mortgages, home-equity lines and other liens early. Do not assume that paying the first mortgage resolves every claim affecting the property.
Agreed real estate broker compensation
Use the compensation stated in your signed agreements, including any separately agreed buyer-broker payment. It may be expressed as a percentage, a flat amount or a combination. Do not treat a sample percentage as the rate that must apply to your sale.
Keep broker compensation separate from a credit toward the buyer’s closing costs. Also avoid adding a buyer-broker amount twice when it is already included in the total compensation you entered.
Documentary stamp tax on the deed
In St. Johns County and most Florida counties, deed documentary stamp tax is $0.70 per $100, or fraction of $100, of taxable consideration. Miami-Dade has different rules. For the ordinary $800,000 sale used here, the tax is $5,600.
The tax is not calculated only on your remaining equity after the mortgage payoff. Confirm the taxable consideration and which party pays under your contract.
Title insurance and closing-related charges
Check who pays for the owner’s title policy under the contract. Using Florida’s original-rate schedule, an $800,000 owner’s policy has a base premium of $4,075 before applicable adjustments. A prior owner’s policy may help establish eligibility for a reduction; provide it to the closing team for review.
Separate the insurance premium from settlement, document preparation, searches, recording and other applicable charges. Ask for an itemized estimate identifying which services are included and which are additional. The sample allowances above are not universal charges.
Property-tax prorations
For unpaid current-year taxes, a seller is commonly charged a prorated amount and the buyer receives a corresponding closing credit. That credit is not itself a payment to the tax collector.
The contract, closing date, tax amount and payment status affect the adjustment. When taxes have already been paid, the direction of the credit may change. Do not automatically deduct both the entire annual bill and the same seller proration.
Association charges, assessments and repairs
For an HOA or condominium property, request current association information about estoppel charges, unpaid dues, special assessments and any other transaction-related amounts. An estimate for obtaining an estoppel is not an estimate of everything owed to the association.
Separately account for agreed repair credits, work payable at closing and any retained funds. Ask how the contract allocates assessments and other obligations rather than assuming they disappear when you sell.
Look Beyond the Price
The highest offer is not always the highest net.
Compare an $800,000 offer with a $20,000 seller credit against a $790,000 offer with no seller credit. Keep the same payoff, closing date, cost allocation and fixed allowances. Recalculate the charges that depend on price.
Scroll horizontally to compare both offers.
| Comparison | Offer A | Offer B |
|---|---|---|
| Sale price | $800,000 | $790,000 |
| Seller credit to buyer | −$20,000 | $0 |
| Seller-paid broker compensation: 5% assumption | −$40,000 | −$39,500 |
| Deed documentary stamp tax | −$5,600 | −$5,530 |
| Owner’s base title premium: original rate | −$4,075 | −$4,025 |
| Mortgage payoff | −$425,000 | −$425,000 |
| Same tax proration & other allowances | −$5,644 | −$5,644 |
| Estimated seller net | $299,681 | $310,301 |
The shared $5,644 includes the $4,500 tax-proration allowance plus $1,144 in the other allowances listed above. Nothing is added twice. The same illustration limits apply to both offers.
Net proceeds are one part of the decision. Compare inspection and financing contingencies, appraisal terms, deposits, closing dates, possession arrangements and repair obligations. A later closing can also change your payoff, prorations and carrying costs.
Evaluate both the expected dollars and the conditions that must be satisfied to reach closing. A net sheet does not measure the likelihood that a buyer will perform.
From Example to Your Property
How to use SJLG’s seller net calculator
The SJLG Closing Cost Calculator is a starting point for a property-specific discussion. Review its assumptions rather than treating default figures as a final quote.
- Gather the inputs. Have the expected sale price, closing date, payoff information, annual property-tax information, association details and agreed compensation available.
- Match the contract. Review who pays each charge and include the seller concessions or other credits that actually apply.
- Run each offer separately. Update the price, credits and closing date as needed. Changing only the price does not fully compare offers with different terms.
- Ask for a closing-team review. Replace allowances with confirmed figures and request an updated estimate after amendments, inspections or payoff changes.
Closing Cash vs. Taxable Gain
Net proceeds are not the same as taxable profit.
The amount available at closing and the gain reported for income-tax purposes are different calculations. Taxable gain depends on matters such as selling expenses, adjusted tax basis and any available exclusion—not simply the mortgage balance you pay off.
Rental use, improvements and ownership history can affect that analysis. A foreign-person seller may also face federal FIRPTA withholding, which can reduce the funds available at closing. Review these questions early with appropriate tax and legal advisers. Neither illustration above includes income tax, FIRPTA withholding or other holdbacks.
Frequently Asked Questions
Selling a Florida home: costs and proceeds
Do I still have closing costs if my mortgage is paid off?
Yes. A zero mortgage payoff does not eliminate contractually allocated taxes, title or closing charges, agreed broker compensation, prorations or buyer credits. Remove the payoff from your estimate, not every other deduction.
Does the seller always pay for the owner’s title policy?
No. Review the signed contract’s allocation of title expenses. Local practices do not replace the parties’ agreement. The examples here assume the seller pays; that assumption must be changed when your contract provides otherwise.
Is the buyer’s deposit extra money on top of the sale price?
In an ordinary completed sale, the earnest-money deposit is applied toward the buyer’s purchase price. A net sheet that starts with the full sale price should not add that deposit again. Funds already released must also be reconciled when calculating what remains to be disbursed.
What happens if the estimate shows negative proceeds?
Under those assumptions, the sale proceeds do not cover the amounts due. You may need to bring funds or obtain an agreed change to the transaction. A lender is not automatically required to accept less than its payoff; address a projected shortfall before committing to closing.
Why can my final proceeds differ from an earlier net sheet?
The date, payoff interest, tax calculation, association information, repair arrangements or other terms may change. Compare the final settlement statement with the latest estimate and ask the closing team to explain material differences before signing.
One Legal Team
Bring the contract and the numbers together.
St. Johns Law Group assists Florida buyers and sellers with real estate matters, title and closing coordination. Our St. Augustine closing team works with the firm’s attorneys when a transaction presents contract, title or other legal questions.
Contact Katie Lemelin or Christina Guyette to discuss your proposed sale and request a transaction-specific closing estimate. Legal representation is subject to the firm’s conflict review and agreed scope of services.
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Know your estimated net before you accept the offer.
Start with SJLG’s seller net calculator, then contact our closing team to review the contract, costs and assumptions behind the result.