Selling and buying without an agent in Florida

Who runs your closing

Florida closings are handled by either a title company or a real estate attorney. In much of the state a title company runs the closing, while in South Florida it is common to use a real estate attorney. Either way, the closing agent searches title, issues title insurance, prepares the settlement statement, and records the deed.

What you must disclose

Florida does not mandate a single statutory disclosure form, but it does impose a clear duty. Under the state’s well-known Johnson v. Davis ruling, a seller must disclose facts that materially affect the value of the property and are not readily observable to the buyer. In practice that means a written disclosure of known defects, and most sellers use a standard form to do it. The safe approach is the same as everywhere: when in doubt, disclose.

Transfer taxes

Florida charges a documentary stamp tax on the deed of 70 cents per $100 of the sale price in every county except Miami-Dade, which sets its own rate. On a $400,000 sale that is $2,800 outside Miami-Dade. Confirm who customarily pays it in your county, since that can vary by local practice and by contract.

The bottom line for doing it yourself

Florida is straightforward for a do-it-yourself deal, with the main wrinkles being the documentary stamp tax and the choice between a title company and an attorney to close. Budget for the stamp tax up front and decide early which closing agent you will use.