Are you budgeting for an Aventura condo and wondering what closing will really cost? You are not alone. Buyer closing costs in Miami‑Dade include a mix of lender fees, Florida mortgage taxes, title and recording charges, plus HOA items that vary by building. This guide breaks down what you pay, how Florida’s calculations work, and sample totals at common price points so you can plan with confidence. Let’s dive in.
Buyer closing cost components
Lender and mortgage fees
- Origination, underwriting, and processing fees.
- Appraisal, credit report, and flood certification.
- Florida mortgage taxes on the loan amount: documentary stamp tax on the promissory note and the intangible tax on new mortgages.
- Mortgage insurance if required by your loan program.
- Lender’s title insurance policy.
Title and settlement charges
- Title search and commitment, settlement agent/closing fee, and recording fees.
- Owner’s title insurance policy may be customary for the seller to pay in Miami‑Dade, but confirm in your contract.
Prepaids and escrow
- First‑year homeowners insurance premium or insurance escrow.
- Initial escrow deposits for property taxes and insurance. Lenders commonly collect up to 2 months of cushion.
- Prorated property taxes based on your closing date.
HOA and condo items
- Estoppel (resale certificate), application or processing fees, background checks.
- Elevator reservation and move‑in or move‑out fees and deposits.
- Keys, fobs, or remotes, plus any building transfer fees.
Inspections and miscellaneous
- Home inspection.
- Recording, wire, courier, and notary fees.
- Surveys are rarely required for condominiums.
Florida taxes and Miami‑Dade fees
In Florida, two state taxes apply to new mortgages. These are unavoidable when you finance your purchase and are calculated from your loan amount.
Documentary stamp tax on the note
- Rate: $0.35 per $100 of the mortgage amount (0.0035 × loan amount).
- Example: A $320,000 mortgage results in $1,120 in doc stamps on the note.
Intangible tax on the mortgage
- Rate: 0.2% of the mortgage amount (0.002 × loan amount).
- Example: A $320,000 mortgage results in $640 in intangible tax.
Recording fees
- Miami‑Dade charges for recording the deed and mortgage. Buyer‑facing recording totals are often in the low hundreds of dollars, but exact amounts depend on document count and page length.
Who pays for deed taxes and owner’s policy
- In many Miami‑Dade deals, the seller pays the owner’s title policy and the documentary stamp tax on the deed. This is common but not universal. Confirm the contract and the building’s local custom.
Typical ranges you can expect
- Origination, underwriting, processing: 0.5% to 1.5% of the loan amount.
- Appraisal: $450 to $900 for most condos, higher for complex properties.
- Credit report and third‑party verifications: $50 to $300 combined.
- Lender’s title policy and recording: $600 to $1,500 at mid‑price points; more for larger loans.
- Settlement/closing fee and title search: $300 to $900.
- Homeowners insurance (annual condo policy factors vary): often $1,000 to $5,000+.
- Initial escrow deposit: commonly up to 2 months of taxes and insurance.
- HOA estoppel, application, move‑in, keys/fobs: typically $200 to $1,500+ in total depending on building rules.
Sample totals at common price points
Assumptions for all scenarios: 20% down payment, 80% loan‑to‑value mortgage, seller pays owner’s title policy and deed documentary stamps (common in Miami‑Dade but not guaranteed), and no unusual assessments or insurance requirements.
Scenario A: $400,000 condo
- Loan amount: $320,000.
- Florida mortgage taxes: doc stamp $1,120 + intangible $640 = $1,760.
- Lender fees and third‑party charges: $2,000 to $5,000.
- Lender’s title policy and recording: $600 to $1,500.
- Prepaids and escrow: $1,200 to $3,500.
- HOA items: $200 to $1,000.
- Estimated buyer closing costs: $5,760 to $12,760 (about 1.4% to 3.2% of price), excluding down payment.
Scenario B: $800,000 condo
- Loan amount: $640,000.
- Florida mortgage taxes: doc stamp $2,240 + intangible $1,280 = $3,520.
- Lender fees and third‑party charges: $3,000 to $8,000.
- Lender’s title policy and recording: $800 to $2,500.
- Prepaids and escrow: $2,400 to $7,000.
- HOA items: $200 to $1,500.
- Estimated buyer closing costs: $9,920 to $22,520 (about 1.2% to 2.8% of price), excluding down payment.
Scenario C: $1,800,000 condo
- Loan amount: $1,440,000.
- Florida mortgage taxes: doc stamp $5,040 + intangible $2,880 = $7,920.
- Lender fees and third‑party charges: $5,000 to $15,000.
- Lender’s title policy and recording: $2,000 to $6,000.
- Prepaids and escrow: $4,000 to $15,000.
- HOA items: $300 to $2,000.
- Estimated buyer closing costs: $19,220 to $45,920 (about 1.1% to 2.6% of price), excluding down payment.
HOA and move‑in costs in Aventura
Association fees vary by building, management company, and rules. Plan for the following common items and verify each one early in your contract period.
- Estoppel or resale certificate: typically $100 to $400.
- Buyer application and background check: often $50 to $400.
- Elevator reservation and move‑in coordination: $100 to $500. Security deposits are commonly $250 to $1,000, refundable per rules.
- Keys, fobs, or remotes: usually $25 to $150.
- Transfer or conveyance fees: building dependent; confirm association documents.
- Special assessments: review minutes, budgets, and reserves to identify any pending or recent assessments that affect cash to close and monthly costs.
How to manage and reduce costs
- Confirm local custom in writing. In many Miami‑Dade deals the seller pays the owner’s title policy and deed documentary stamps. Put payment responsibilities in your contract.
- Ask for a seller credit. A general credit that applies to buyer closing costs can cover a wide range of items.
- Shop your loan. Request Loan Estimates from multiple lenders and compare total fees, rate options, and credits.
- Consider lender credits. A slightly higher interest rate may come with a credit that lowers cash to close.
- Order the estoppel early. Delays can push your closing and add fees.
- Verify flood exposure and insurance. Building requirements and flood zones can increase premiums in Miami‑Dade.
- Review association health. Low reserves, litigation, or large assessments can change underwriting and impact your budget.
- Book your move‑in. Secure elevator reservations and fee schedules to avoid surprise charges on moving day.
- Coordinate your insurance binder. Confirm when the premium is due and avoid overlap or gaps.
- Request the seller’s draft closing ledger. Clarify which customary seller‑paid items they will cover and confirm any concessions.
What to confirm before you sign
- Who pays for the owner’s title policy and the deed documentary stamps in this building and market.
- The estoppel fee amount and turnaround time from the association.
- Any pending special assessments or litigation in association minutes.
- Whether the building or unit location triggers higher wind or flood insurance costs.
- Transfer approvals, rental restrictions, or rules that could delay closing.
- Lender requirements tied to reserves, assessments, or building litigation.
- Whether association reserves are adequate for future maintenance.
Next steps
Closing costs in Aventura are predictable once you break them into parts. Your largest fixed items are Florida’s mortgage taxes and lender fees, then title and recording, then prepaids and HOA costs that depend on the building and your closing date. With the right contract terms and lender strategy, you can often shift or offset several line items and reduce cash to close.
If you want a precise estimate for a specific building, we will walk you through the itemized numbers, negotiate the right allocations, and coordinate the moving parts so you close smoothly. Schedule a consultation with Purple Door Capital to get a custom closing cost plan for your Aventura purchase.
FAQs
What are typical Aventura condo buyer closing costs?
- For financed buyers, a common range is roughly 1.1% to 3.2% of the purchase price, driven by Florida mortgage taxes, lender fees, title and recording, prepaids, and HOA items.
Who usually pays the owner’s title policy in Miami‑Dade?
- It is common for sellers to pay the owner’s title policy and deed documentary stamps in Miami‑Dade, but it is not universal, so confirm the contract.
How are Florida mortgage taxes calculated for buyers?
- The doc stamp on the note is $0.35 per $100 of the mortgage amount, and the intangible tax is 0.2% of the mortgage amount, both based on your loan size.
Which HOA fees should Aventura buyers expect at closing?
- Expect an estoppel, application or processing fees, elevator reservation and move‑in deposits, and keys or fobs; amounts vary by building, so verify early.
How can I lower my Aventura condo cash to close?
- Negotiate seller credits, compare lenders for lower fees or rate‑credit options, confirm who pays which title items, and order the HOA estoppel early to avoid delays.
