Closing costs on a Florida commercial transaction are predictable if you know which items apply, who customarily pays, and how county practice varies.
Here is the line-item picture for a Florida commercial closing, with the fuel-site specifics that catch buyers out.
Statutory and Recording Costs
Documentary stamp tax on the deed is $0.70 per $100 of consideration in most Florida counties, with Miami-Dade following a different rate structure. Documentary stamps on notes are $0.35 per $100 of the note amount, and intangible tax on new mortgages is 0.2 percent of the secured amount.
Add recording fees for the deed, mortgage, and any assignments, plus county-specific surtaxes where applicable.
Transaction Services
Owner's and lender's title insurance premiums (Florida promulgated rates), title search and examination, closing or settlement fee, survey, environmental assessments, appraisal, lien and UCC searches, estoppel letters, and municipal lien searches.
Prorations cover property taxes, assessments, rents, and utilities. Fuel and merchandise inventory settle separately at cost on the closing date.
Who Pays What, and Fuel-Site Extras
Custom varies by county and is always negotiable. Sellers commonly pay documentary stamps on the deed, the owner's title policy in many counties, and brokerage commissions; buyers commonly pay lender-related costs, survey, environmental, appraisal, and recording of the mortgage.
Fuel sites add environmental escrows or holdbacks, license transfer fees, supplier consent and image loan payoffs, tank registration transfer, and equipment lease assumption fees. See closing costs when selling commercial property.
The Gas Station Group works Palm Beach County daily. Call (305) 518-1545 or visit our contact page. All transactions are brokered through Fausto Commercial.
Frequently Asked Questions
Speak With a Florida Gas Station Specialist
Request a confidential consultation or off-market opportunities and pricing through our contact page, or call +1-305-518-1545. The Gas Station Group is headquartered at 8603 S Dixie Hwy, Miami, FL 33143. Principal: Bobby Berrido.