Closing & taxes
Clear to close, wire securely, and budget closing costs.
Confirm funding, walkthrough, and recording.
Clear-to-close means lender, title, and association (if applicable) have cleared conditions. The final weeks involve appraisal, insurance binder, walkthrough, and wiring funds — wire fraud is real; verify every instruction by phone.
Appraisal and lender conditions
Jumbo appraisals on unique waterfront homes sometimes come in low. Know your options — renegotiate, bring cash to cover gap, or exit if appraisal contingency applies. Respond to lender document requests same-day to avoid delays.
Closing costs and prepaids
Budget 2–5% of purchase price for buyer closing costs on financed deals — origination, title, recording, prepaids. Read Closing, Homestead & Tax Costs for line-item detail and documentary stamp rules in Florida.
Final walkthrough
Tour the property within days of closing to confirm condition, included personal property, and that repairs were completed. Document any issues before closing — after recording, remedies are harder.
Wire fraud prevention
Homestead planning
If this is your primary residence, file homestead exemption with the county property appraiser after occupancy. Palm Beach, Broward, and Martin counties have specific forms and deadlines — missing the first year costs you tax savings.
Closing checklist
- Clear-to-close received from lender
- Insurance binder delivered to title/lender
- Closing Disclosure reviewed against estimate
- Final walkthrough completed
- Wire amount confirmed by phone with title
- Government ID and cashier's check or wire ready
- Homestead application calendar reminder set
Buyer, seller (or attorney), title agent, and sometimes lender rep. Many documents sign at title office or via mobile notary.
Usually after recording — often same day as closing. Possession time is specified in contract.
Contract may allow per-diem penalties or mutual extension. Communicate through your advisor immediately.