Wondering how much you’ll actually pay at the closing table in Boca Raton? You’re not alone. Closing costs can feel opaque, especially if you’re buying in Florida for the first time or relocating from out of state. In this guide, you’ll learn what fees to expect, typical local ranges, what’s negotiable, and how to plan your cash to close with confidence. Let’s dive in.
What closing costs include
Closing costs cover several buckets: lender fees, title and recording, prepaid items and escrow deposits, inspections and reports, and required state or county taxes. Your total usually scales with the price of the home and your loan type.
Lender fees
These are charges from your mortgage lender or broker.
- Origination, application, and processing: typically $500–$3,000 or about 0.25%–1% of the loan amount depending on your lender and whether points are charged.
- Discount points: optional. Each point equals 1% of the loan amount and lowers your rate.
- Appraisal: about $400–$800 in Palm Beach County, depending on the property’s size and complexity.
- Credit report and flood certifications: usually $25–$150 combined.
- Underwriting or document prep: varies by lender.
- Lender-required inspections for some loans: pest or WDO inspections can run $75–$200.
Title, settlement, and recording
Florida closings often run through a title company. You’ll see separate costs for research, insurance, and settlement.
- Title search and exam: about $150–$400.
- Lender’s title insurance policy: generally required; the premium depends on the loan amount.
- Owner’s title insurance policy: premium depends on the purchase price and who pays, which can vary by local custom.
- Settlement/closing fee: typically $300–$900.
- Recording, courier, and notary: usually from a few tens of dollars up to a few hundred, depending on document count and services.
Prepaids and escrow deposits
Your lender may collect items upfront to fund your escrow account.
- Prepaid interest: from your closing date to the end of the month.
- Property taxes and homeowners insurance: lenders often collect 2–6 months’ worth to start your escrow account.
- Flood or windstorm insurance: can be required in certain areas and may add to your escrow total.
Inspections, surveys, and HOA costs
Plan for due diligence and any association-related fees.
- Home inspection: about $300–$700, plus optional roof, pool, HVAC, mold, or sewer scope inspections if needed.
- Pest/WDO inspection: commonly $75–$200.
- Survey: about $300–$700 if required; some lenders accept an existing survey if the seller provides one.
- Condo/HOA fees: estoppel letters or transfer fees commonly run $150–$400 or more, set by the association.
Taxes and government charges
Florida and Palm Beach County assess documentary stamps, intangible taxes, and recording charges. These are set by statute and local schedules and are not negotiable.
Boca Raton local norms
Local custom in South Florida often has the seller pay the buyer’s owner’s title insurance policy. In Boca Raton, this is common but not guaranteed. Market conditions can shift who pays for what, so confirm the expectation in your offer and counteroffer.
Title companies typically handle escrow and the closing. If you have a mortgage, expect an escrow account for taxes and insurance. Boca Raton has many condos and planned communities, so plan for association estoppel fees, application fees, and document reviews. HOA timelines can affect your closing date.
Boca Raton is coastal, and some areas may be in FEMA flood zones. Lenders can require flood insurance, and windstorm coverage is common. These premiums impact both your monthly payment and your required escrow deposits at closing.
Palm Beach County property taxes are prorated based on your closing date. You and the seller split the bill according to county schedules.
How much to budget
As a rule of thumb, set aside about 2%–5% of the purchase price for closing costs. Many Florida buyers land closer to 1%–3% depending on who pays the owner’s title policy and how large the prepaid insurance and tax escrows are.
Here are ballpark illustrations to help you plan:
Example A: Single-family home, $500,000, conventional loan
- Lender fees and appraisal: $1,500–$4,000
- Title and closing: $1,200–$2,800 (owner’s policy may be paid by seller)
- Escrow deposits: $1,200–$4,000
- Inspections and survey: $500–$1,400
- Prepaids: $800–$3,000
- Estimated buyer cash to close, excluding down payment: about $5,200–$15,200, roughly 1.0%–3.0% of price
Example B: Condo, $300,000, financed
- Lender fees and appraisal: $1,200–$3,000
- Title and HOA estoppel: $800–$2,000
- Escrow deposits: $800–$2,500
- Inspections and HOA document review: $300–$800
- Estimated buyer cash to close, excluding down payment: about $3,100–$8,700, roughly 1.0%–2.9% of price
Example C: Higher-end home, $1,250,000, financed
- Lender fees and complex appraisal: $2,500–$6,500
- Title and lender/owner policies: $3,000–$8,000
- Escrow and insurance: $4,000–$12,000+
- Inspections and surveys: $800–$2,000+
- Estimated buyer cash to close, excluding down payment: about $10,000–$28,500+, roughly 0.8%–2.3%+ of price
What you can negotiate
You have options to reduce or shift costs. Focus on the levers that make the biggest impact.
Seller concessions
You can ask the seller to cover some of your closing costs, including certain title charges, prepaid escrows, or even discount points. How much is allowed depends on your loan program. Confirm caps with your lender before you write the offer.
Who pays the owner’s title policy
In Boca Raton, it is common for the seller to pay for the buyer’s owner’s title policy, but this is contract specific. In a competitive market, sellers may be less flexible. In a slower market, buyers often secure a seller-paid policy.
Lender fees and credits
Lenders may reduce or waive some fees or offer a lender credit in exchange for a slightly higher interest rate. Collect Loan Estimates from two or three lenders to compare.
Title company choice
The party paying for the owner’s policy often selects the title company. If you have a choice, shop quotes. Settlement and search fees can vary.
Repairs or credits after inspections
If inspections reveal issues, you can request repairs or a seller credit. Credits can reduce your cash due at closing.
What you cannot negotiate
Some charges are fixed by law or set by third parties.
- State documentary stamps, intangible taxes, and county recording fees
- Insurance premiums based on risk and coverage
- Appraisal fees set by the lender’s appraisal management process
You can still shop insurance carriers and coverage levels, but the premium is not typically negotiable with the seller.
Steps to keep costs predictable
A little structure goes a long way. Use this checklist to stay ahead of surprises.
- Get Loan Estimates from 2–3 lenders within a short window to compare fees and rates.
- Ask local title companies for a preliminary estimate of title and settlement costs.
- Confirm who pays the owner’s title policy and recording fees in your offer.
- Order the condo or HOA estoppel early to avoid closing delays.
- Review your homeowners, windstorm, and flood insurance quotes before you remove contingencies.
- Request your Closing Disclosure at least 3 days before closing and compare it to your Loan Estimate.
Boca Raton condo and HOA specifics
If you are buying a condo or a home in a planned community, build time and budget for association requirements. Estoppel letters document whether the seller owes any dues. Application fees and move-in fees can apply. Some associations also require reserves and specific insurance coverages that can affect your lender approval and escrow setup.
Flood, wind, and insurance planning
Boca Raton’s coastal setting means windstorm coverage is common and flood insurance may be required if a property is in a mapped flood zone or if your lender mandates it. Premiums vary by property characteristics and location. Because these premiums feed into your escrow deposits, review quotes early so your cash to close does not spike late in the process.
Tax proration in Palm Beach County
Property taxes are prorated at closing based on the date you take ownership. The seller credits you for their share of the year. Your lender will also collect escrow deposits so the servicer can pay the next bill on schedule.
Bottom line for Boca Raton buyers
Most Boca Raton buyers can expect closing costs of about 1%–3% of the purchase price when the seller pays the owner’s title policy, and 2%–5% when they do not. Your largest variables are lender fees and credits, title policy allocation, insurance premiums, and escrow deposits. Shop lenders and title providers, confirm local customs in your contract, and review your disclosures early.
Planning a Boca Raton purchase and want a local, high-touch process from search to close? Reach out to The South Ocean Group for clear guidance on neighborhoods, property types, and a seamless path to the finish line.
The South Ocean Group is ready to help you take the next step.
FAQs
How much are buyer closing costs in Boca Raton?
- Budget roughly 2%–5% of the purchase price, with many buyers landing near 1%–3% when sellers cover the owner’s title policy and escrow deposits are moderate.
Who pays for the owner’s title insurance in Boca Raton?
- It is common in South Florida for sellers to pay the owner’s title policy, but it is negotiated in the contract and can vary with market conditions.
What inspections should I plan for as a Boca Raton buyer?
- Typical inspections include a general home inspection, pest/WDO if required, and sometimes roof, pool, HVAC, mold, or a survey depending on lender needs.
Are Palm Beach County property taxes prorated at closing?
- Yes. Taxes are prorated between buyer and seller based on your closing date according to county rules.
Can I roll closing costs into my mortgage?
- Some lender fees or discount points can be financed depending on your loan program, but most prepaids and escrow deposits require cash at closing.
What loan programs allow seller concessions for closing costs?
- Conventional, FHA, VA, and USDA loans allow seller credits up to program-specific limits. Confirm the cap with your lender before making an offer.
