Doc Stamps & Closing Costs
June 29, 2009 by Perry Corneau · Leave a Comment
A documentary stamp tax is levied on documents that convey interest in real property. In all Florida counties except Miami-Dade the doc stamp is calculated as $.70 per $100 of the total consideration paid. The documentary stamp tax on mortgage instruments and liens is $.35 per $100 dollars of value. It is customary that the buyer pays the documentary stamp tax on the mortgage and that the seller pays the documentary stamp tax on the deed at closing.
Documents that convey interest in real property and that are subject to taxation include:
- Warranty deeds
- Quit claim deeds
- Deeds in lieu of foreclosure
- Easements
- Assignments of beneficial interest in a trust
- Assignments of leasehold interest
To calculate closing costs on any real estate transaction including title insurance you can use my closing cost calculator.
I am a Real Estate Broker - Associate with Signature Sotheby's International Realty. I have lived in Sarasota for most of my life and have been a real estate broker in Sarasota since 1988. I am blessed to have the love of my wife Opal and our two daughters, Katie and Victoria. I can be reached on my direct line at 941-650-4626. It would be wonderful to have the opportunity to work with you and earn your trust and friendship.