Seller Closing Costs Review and Options

[Marcus Welson]

Background:

Miami-Dade Condo property.
I am a first-time seller.
No mortgages or loans on my property.
Standard Florida Realtors Association / Florida Bar AS IS Purchase Contract.
Buyer in default on various provisions and must proceed to purchase as a cash purchase, per contract, so there should be no financing related title charge son my end.

Contract only lists the following seller/closing/title fees:

A.Documentary stamp taxes and surtax on deed, if any
B. Title search charges
C. Municipal lien search
D. HOA/Condominium Association estoppel fees
E. Recording and other fees needed to cure title
F. Seller's attorneys' fees
G. Other: Not applicable. 

Additional relevant provisions in the contracts:
"Title Evidence and Insurance: a title insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as exceptions attached thereto ("Title Commitment") and, after Closing, an owner's policy of title insurance (see STANDARD A for terms) shall be obtained by the Buyer. If Seller has an owner's policy of title insurance covering the Real Property, Seller shall furnish a copy to Buyer and Closing Agent within 5 days after Effective Date. The owner's title policy premium, title search and closing services (collectively, "Owner's Policy and Charges") shall be paid, as set forth below. The title insurance premium charges for the owner's policy and any lender's policy will be calculated and allocated in accordance with Florida law, but may be reported differently on certain federally mandated closing disclosures and other closing documents. For purposes of this Contract "municipal lien search" means a search of records necessary for the owner's policy of title insurance to be issued without exception for unrecorded
liens imposed pursuant to Chapters 153, 159 or 170, F.S., in favor of any governmental body, authority or agency.

[MIAMI-DADE/BROWARD REGIONAL PROVISION]: Buyer shall designate Closing Agent. Seller shall furnish a copy of a prior owner's policy of title insurance or other evidence of title and pay fees for: (A) a continuation or update of such title evidence, which is acceptable to Buyer's title insurance underwriter for reissue of coverage; (B) tax search; and (C) municipal lien search. Buyer shall obtain and pay for post-Closing
continuation and premium for Buyer's owner's policy, and if applicable, Buyer's lender's policy. Seller shall not be obligated to pay more than $_____________ (if left blank, then $200.00) for abstract continuation or title search ordered or performed by Closing Agent."

I asked for a sample estimate ahead of time to make sure I can check everything.

ALTA Seller's Settlement Statement provided by the buyer's title company lists:

H. Prorated county taxes [lists the amounts for January of this year through closing date]. Even though this isn't anywhere I can see in the contract, I presume to clear the title I have to pay this off.

I. Documentary tax stamp deed to the Clerk of Court [ I verified this as correct for our area]

J. Commissions for the agents: [I verified this as correct]

K. "Consumer Electronic File Storage": $25 [this seems like a bs addon]

L. Wire/Fedex/Courier Fee: $100

M. Municipal Lien Search $400

N. Settlement Fee to Title Company: $895 [I think this is high and seems like they are putting the entire settlement fee on my side and its not listed under my contract costs above]

O. Title Search: $200

P. E-Recording: $18

Q. Recording affidavits and death certificates: $100 [ I gained the property by rights of survivorship and the past owner died but we need to update the title]

My Questions:

1. My understanding is that I do not need to use the Buyer's title company and can choose my own to prepare my seller papers. Is this correct?

2. Do the above fees H through Q look reasonable based on what is typical?

4. Do the fees listed above appear to match what I am required to pay per the contract terms above? For example, I don't see Consumer File Storage or Settlement fee listed in my contract obligations.

3. Are there any fees listed that generally would be paid by the Buyer?

Any responses, advice or suggestions will be greatly appreciated.