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Additional costs when buying property in Florida

19.08.2023
Additional costs when buying property in Florida

State laws divide the costs of a real estate sale transaction in Florida as follows: all pre-sale expenses, including real estate tax and property sales, utility and loan debts, the cost of a cadastral statement, are paid by the seller.

The buyer, in turn, pays for all costs after the transaction: the legal processing of the transaction, the processing of the loan, plus the filing fee in the county’s documents. If the purchase of real estate in Florida by a non-resident of the country takes place for cash (cash), the price of the transaction will be about $ 500 (depending on the type of object and the time of year).

PROPERTY TAX

There are no additional property taxes in Florida for non-residents, however, there is a special property tax that applies to all owners and must be properly paid.

This type of tax is levied once a year – in November. The amount is published on the official website of the county tax service. On average, the amount of tax is 2% of the cadastral value of real estate.

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