Unpacking the Real Numbers with Realtor Anthony Spitaleri
Buying a home in Davie, Florida comes with excitement and some surprises, including closing costs. Many buyers focus on the down payment, but closing costs are just as important in budgeting for your move. Let’s break down exactly what you’ll pay, what’s included, and how to prepare for your home purchase.
What Are Closing Costs?
Closing costs are the combined fees and charges every buyer pays at the final stage of a real estate transaction. They cover everything from lender and legal fees to taxes and prepaid expenses. In Florida, including Davie, you’ll typically pay these costs by cashier’s check or wire transfer at the time of closing, in addition to your down payment.
How Much Are Closing Costs in Davie?
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Expect to pay 2–5% of your home’s purchase price.
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For a median Davie home price (about $400,000), closing costs generally range from $8,000 to $20,000.
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The final amount depends on factors such as your loan type, lender fees, property taxes, and negotiations with the seller.
What’s Typically Included in Buyer Closing Costs?
Here's what you’ll typically see in your closing statement:
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Loan Origination Fees: Charged by lenders for processing and underwriting your mortgage (usually 0.5%–1% of the loan amount).
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Appraisal Fee: Lender-required home valuation (typically $300–$600).
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Credit Report Fee: Cost for verifying your credit (around $25–$50).
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Title Search and Title Insurance: Protects against legal claims on the property (commonly $500–$2,000 or more, variable by price).
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Inspection Fees: Home and pest inspections to assess property condition (often $250–$600 each).
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Government Recording Fees: Fees for legally recording the sale with Broward County (about $100–$300).
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Prepaid Property Taxes and Homeowner’s Insurance: Lenders usually require several months paid up front.
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Transfer Taxes/Doc Stamps: Currently $0.70 per $100 of purchase price in Florida.
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HOA Fees (if applicable): Sometimes buyers pay association transfer or initiation fees.
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Attorney Fees (if used): Optional in FL, but can add $500–$1,500.
Sample Closing Cost Calculation
| Home Price | Percent | Estimated Closing Costs |
|---|---|---|
| $400,000 | 2% | $8,000 |
| $400,000 | 5% | $20,000 |
Most buyers in Davie find their costs land between 2% and 4% but always budget at the higher end just in case.
Tips to Reduce or Manage Closing Costs
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Shop lenders and compare fees—they can vary a lot!
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Ask for seller concessions—sometimes sellers agree to help cover costs.
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Use down payment and closing cost assistance programs—especially helpful for first-time buyers in Florida.
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Understand your APR—annual percentage rate reflects your true loan cost.
Final Thoughts: Go In Prepared
Closing costs are a crucial (and often overlooked) part of buying a home in Davie. As your local Realtor, Anthony Spitaleri, I’ll connect you with trusted lenders, review your closing statement, and help you find ways to save, so you can move into your new home with confidence.
Ready to start your Davie home search or get detailed closing cost estimates for your price range?
Contact Anthony Spitaleri for a personalized buyer consult today!
