Closing costs are the fees that are associated with your home purchase that are paid at the closing of a real estate transaction. The Closing is the point in time when the title of the property is transferred from the seller to the buyer. The Closing costs are incurred by either the buyer or the seller.
When purchasing a home in Miami or anywhere else in Florida there are numerous fees, costs and the expenses which get allocated between the buyer and the seller on the closing statement.
It is sensible for a buyer or a seller to engage in the services of an experienced Florida real estate attorney prior to the signing of the purchase and sale contract to not only review the terms of the contract, but also to make sure that these various closing costs are properly allocated between the buyer and the seller in the contract.