Palm Beach Title, Escrow, and Closing Services
With a population of more than 1.3 million people, Palm Beach county is the third largest County in Florida, and is the smallest county located inside the Miami metropolitan area. It's also the wealthiest county in Florida, with a per-capita income of almost $45,000 per person, and is renowned for its historic hotels, beaches, and other tourist destinations. Some of the larger cities in Palm Beach County include Boca Raton, West Palm Beach, Delray Beach, and Boynton Beach. Palm Beach County is also home to major corporations including Office Depot, ADT, TBC Corporation, and NextEra Energy.
It should come as no surprise, then, that the county's second largest industry is real-estate development; and, whether you're a large developer or simply buying a small residential or commercial property, you'll need a trusted advisor to guide you through the entire title insurance, escrow, and closing process.
Closing Costs in Palm Beach County
Title insurance: Palm Beach County title insurance is set at the Florida promulgated rate: $5.75/$1000 for purchases up to $100,000 and $5.00/$100 for purchases larger than $100,000.
Florida Form 9 Endorsement: sometimes known as an FF9, this endorsement, set at 10% of title insurance costs, requires a land survey, and is important to determine any easement or zoning issues that property buyers may not be aware of.
Settlement/closing fee: typically $350 to $400 in Florida, this is an fee charged to the title company to execute the final transaction.
Sale documentary stamp tax: $0.70/$100 of sale price (typically paid for by the seller, but is sometimes paid for buy the buyer).
Financing documentary stamp tax: $0.35/$100 of mortgage (buyers only need to pay this based on the amount of the loan they have taken out).
Intangible tax: an additional $0.20 per $100 due to a county official before the mortgage can be recorded.