Sell Your House Fast in Florida. Get Your Cash Offer.

How a Florida home sale closes

Florida title insurance premiums are set by rule and apply statewide, under Florida Statutes 627.782.

• Rates may differ by class of risk, but they cannot be excessive, inadequate or unfairly discriminatory.
• Documentary stamp tax is paid to the county clerk or recording official when the deed is recorded, per the Florida Department of Revenue.
• Escrow, recording and similar fees can vary, so it helps to ask your closing agent for an itemized estimate.

Documentary stamp tax on deeds

Florida charges a documentary stamp tax on deeds of 70 cents per $100 of consideration (Florida Statutes 201.02).

• The tax applies to documents that transfer an interest in Florida real property, such as deeds, per the Florida Department of Revenue.
• It is paid when the deed is recorded. If a taxable document is not recorded, the tax is paid directly to the Department.
• Who pays is set in your purchase contract. Your closing agent can confirm the amount for your sale.

Seller disclosures

Florida sellers of residential property give the buyer a flood disclosure at or before the time the sales contract is signed (Florida Statutes 689.302).

• The form asks whether the seller knows of flood damage to the home during their ownership.
• It also asks about flood insurance claims, including with the National Flood Insurance Program, and flood assistance, such as from FEMA.
• A radon gas notice must appear on at least one document signed at or before the sales contract (Florida Statutes 404.056).
• For homes built before 1978, federal law also requires a lead paint disclosure and the EPA pamphlet. Foreclosure sales are among the exemptions.

Foreclosure process and timeline

Florida foreclosures go through the courts. State law says all mortgages are foreclosed in equity (Florida Statutes 702.01).

• After a final judgment, the clerk generally holds the sale 20 to 35 days later at public auction (Florida Statutes 45.031).
• Notice of sale is published for two consecutive weeks on a public website or in a local newspaper.
• The owner can generally redeem until the clerk files the certificate of sale, or later if the judgment allows (Florida Statutes 45.0315).
• Many owners in this situation explore selling before the sale date. An attorney or housing counselor can review your timeline.

Probate and inherited homes

Florida allows summary administration for estates of $150,000 or less, after exempt property, or when death was over 2 years ago (Florida Statutes 735.201).

• If the will gives a power of sale, a personal representative can usually sell real property without court authorization (Florida Statutes 733.613).
• Otherwise, the court must authorize or confirm the sale before title passes.
• Homestead property generally cannot be left by will if the owner is survived by a spouse or minor child (Florida Statutes 732.4015).
• A probate attorney can confirm which process fits your family.

Selling a rental with tenants

When a Florida rental is sold, security deposits and advance rent generally transfer to the new owner with an accounting (Florida Statutes 83.49).

• Once the funds and records transfer with a written receipt, the prior owner generally no longer has to hold them.
• A month-to-month tenancy generally ends with at least 30 days' written notice before the end of a monthly period (Florida Statutes 83.57).
• Your lease may have its own terms about a sale, so review it first.
• You can request a cash offer on an occupied or vacant rental. A landlord-tenant attorney can explain the notices that apply.

Homestead and property tax

Florida's homestead exemption can reduce a home's taxable value by as much as $50,000, per the Florida Department of Revenue.

• The first $25,000 applies to all taxes. A second exemption of up to $25,000, adjusted for inflation, applies to value over $50,000 and not to school taxes (Florida Statutes 196.031).
• Apply with your county property appraiser on or before March 1 (Florida Statutes 196.011).
• Save Our Homes caps yearly assessed value increases at 3 percent or the CPI change, whichever is lower (Florida Statutes 193.155).
• After a sale, the home is generally reassessed at just value on January 1 of the next year.
• You may be able to port all or part of your assessment difference to a new Florida homestead, per the Department of Revenue.
• Federal law lets many sellers exclude up to $250,000 of gain, or $500,000 for married couples filing jointly (IRS Topic 701).

Notes for military sellers

The Servicemembers Civil Relief Act (SCRA) adds protections for servicemembers who own a home in Florida.

• For a mortgage taken out before service, a lender generally needs a court order to foreclose non-judicially. This applies during service and for one year after, per the Department of Justice.
• The SCRA caps interest at 6 percent on qualifying pre-service mortgages during service and for one year after.
• The IRS lets eligible uniformed services members suspend the five-year test during qualified extended duty, for up to 10 years.
• A military legal assistance office or an attorney can review your situation.

Tell us about the house

Property type, condition, timeline and address. It takes about two minutes.

Talk with us

We call to learn about the property and your plans.

Review your offer

A quick walkthrough confirms the details, then you review a written offer on your own time.

Close on your date

You choose the closing date. The title or escrow company handles the paperwork and the funds.