The Florida Real Estate Closing Process, Step by Step

Closing day is 45 minutes of signing. The work that lets closing day happen is everything that came before.

When buyers in Florida go under contract, they are looking at a 30 to 45 day runway before they own the home. Cash buyers can compress that to 10 to 21 days. Every day in between involves someone checking a box: a title examiner, an appraiser, an underwriter, a closing agent. When any one of them misses a deadline, your closing date moves. Understanding the sequence helps you push at the right moments and know when to wait.

Florida Uses Title Companies, Not Attorneys

This is the first thing buyers relocating from the Northeast or the Southeast need to understand. States like Georgia, South Carolina, and New York require a licensed attorney to conduct the closing. Florida does not. Title companies handle the entire process here: escrow, the title search, the closing disclosure, and the actual signing ceremony.

That is not a knock on Florida — title companies here are well-regulated and handle high volumes of complex closings. But it does mean you do not automatically have a lawyer reviewing your documents unless you hire one separately. If you want independent legal review of the contract or closing disclosure, budget for a real estate attorney as a separate expense. It is not required; it is optional.

Phase 1 — Escrow Deposit

Within three business days of executing the contract, the buyer wires their earnest money deposit (also called the EMD or good faith deposit) into the title company's escrow account. In the Tampa Bay and St. Pete market, this typically runs 1% to 3% of the purchase price, though it is negotiable.

This money does not go to the seller. It sits in escrow until closing, at which point it is credited toward your down payment and closing costs. If you cancel during the inspection period, you get it back. If you cancel after the inspection period without a contractual out (financing contingency, appraisal gap, etc.), the seller typically keeps it.

Phase 2 — Title Search and Commitment

Once the contract is executed and escrow is received, the title company opens the file and orders a title search. A title examiner reviews the public record for the property — going back decades — looking for liens, judgments, unpaid taxes, ownership disputes, easements, or any encumbrance that would prevent the seller from conveying clean title.

The output of this search is a title commitment. It lists any conditions that need to be cleared before closing — for example, an old mortgage that was never properly released, or a mechanics lien from a contractor who was not paid. Most title issues surface here and get resolved quietly. A small percentage are complicated enough to delay or kill the deal.

Two types of title insurance are issued at closing in Florida. The lender's policy protects the lender's interest in the mortgage — this is required by virtually every lender and the premium is based on the loan amount. The owner's policy protects the buyer — it is optional but strongly recommended. In Florida, the seller customarily pays for the owner's policy in most counties, including Hillsborough and Pinellas. Buyers in Miami-Dade, Broward, and Sarasota counties typically pay for it instead. Both policies together cost less than buying them separately because of a simultaneous issuance discount.

Phase 3 — Inspection Period

The standard Florida Realtors / Florida Bar contract gives buyers a 10-day inspection period, though this is negotiable. During this window, the buyer can hire any inspector they choose and walk the property as many times as the contract allows.

In a competitive market, buyers sometimes waive the inspection to strengthen their offer. I advise against it. A thorough home inspection in the Tampa Bay area costs $350 to $500 for a typical single-family home. What it catches — roof issues, AC age, plumbing defects, Chinese drywall in certain 2006-2008 construction — can be worth tens of thousands of dollars in negotiated repairs or price reductions.

At the end of the inspection period, the buyer can cancel the contract and receive their escrow deposit back, no questions asked. Or they can submit a repair request (called a Request for Repair or RFR) to the seller. The seller can agree, counter, or decline. If negotiations stall, the buyer still has the right to cancel and recover their deposit before the inspection period expires.

Phase 4 — Appraisal (Financed Purchases Only)

If the buyer is financing, the lender orders an appraisal after the inspection period closes. The appraiser is an independent third party — neither the buyer's agent nor the lender selects them directly. Most lenders use an appraisal management company.

In the current Tampa Bay market, scheduling an appraisal takes 5 to 10 days, and the report comes back within a few days of the visit. The appraisal establishes the market value of the home. If the appraised value comes in below the purchase price — a low appraisal — the lender will only lend against the appraised value. The buyer, seller, and agents then negotiate: the seller can lower the price, the buyer can bring additional cash to bridge the gap, or the parties can split the difference. If no agreement is reached and there is an appraisal contingency in the contract, the buyer can cancel and recover their deposit.

Phase 5 — Loan Approval

After the appraisal, the lender's underwriter reviews the complete loan file: income documentation, asset statements, employment verification, appraisal, title commitment. Underwriting can take 5 to 10 business days for a conventional purchase.

Underwriters issue conditions — items they need before they will clear the loan. Common conditions: a letter of explanation for a recent large deposit, updated pay stubs, proof of homeowners insurance, clarification on a credit inquiry. Respond to conditions quickly. Every day you take to respond is a day added to the timeline.

When the underwriter signs off on every condition, they issue a Clear to Close (CTC). This is the moment everyone waits for. Once you have a CTC, the closing date is real.

Phase 6 — The 3-Day Closing Disclosure Review

Federal law (the TRID rule) requires the lender to deliver a Closing Disclosure to the buyer at least three business days before closing. Sundays and federal holidays do not count. If the CD is delivered on a Thursday, you cannot close until Monday.

The CD shows every dollar changing hands at closing: loan terms, interest rate, monthly payment, all lender fees, title fees, prepaid items, escrow setup, and your final cash to close. Compare it carefully against the Loan Estimate you received when you applied for the mortgage. Minor changes are normal; significant fee increases or rate changes are not and should be questioned immediately.

If certain material changes occur after the CD is issued — an APR increase of more than 0.125%, a new prepayment penalty, or a loan product switch — a revised CD must be issued and the three-day clock restarts. This is a common source of last-minute closing delays when buyers are not watching.

Phase 7 — Final Walkthrough

The final walkthrough typically happens 24 hours before closing. It is not an additional inspection — it is a verification that the property is in the condition promised by the contract. You are checking that agreed-upon repairs were completed, the seller's personal property is out, and nothing new was damaged during the move.

Bring your repair addendum. Turn on every appliance the contract conveyed. Run every faucet. Check that the AC is blowing cold and the water heater is working. If something is wrong, you have options — a credit at closing, a repair escrow holdback, or in rare cases postponing the closing until the issue is resolved.

Phase 8 — The Closing Table

Closing in Florida is typically a 30 to 45 minute signing session at the title company's office. Both buyer and seller may attend simultaneously, or the title company can arrange separate signings. Remote online notarization (RON) is legal in Florida, so some closings happen entirely via video.

You will sign the deed, the promissory note, the mortgage, and the ALTA settlement statement. The ALTA is the line-by-line accounting of every dollar — debits and credits on both sides. Review it before you sign.

Two Florida-specific taxes appear on the buyer's side of the ALTA for financed purchases:

• Documentary stamp tax on the promissory note: $0.35 per $100 of the loan amount (rounded up to the nearest $100). On a $320,000 loan, that is $1,120.
• Intangible tax on the mortgage: $0.002 per dollar of the loan amount (2 mills, no rounding). On a $320,000 loan, that is $640.
• Documentary stamp tax on the deed: $0.70 per $100 of the sale price — this one is customarily paid by the seller in most Florida counties.

Property taxes in Florida are paid in arrears. If you close mid-year, the seller will credit you for their share of the year's property taxes at closing — based on the prior year's tax bill and prorated to the closing date. Your first full property tax bill will not arrive until the following November.

Wire Fraud: The Biggest Risk at Closing

Florida consistently ranks in the top five states for real estate wire fraud losses. The scam works like this: hackers infiltrate an email thread between the title company, the buyer, and their agent. They monitor the thread for weeks. Shortly before closing, they send an email — appearing to come from the title company — with updated wiring instructions pointing to a fraudulent account.

Once that wire is sent, it is nearly impossible to recover. The FBI reports median losses in Florida cases exceeding $75,000 per incident.

“Never wire money based solely on email instructions. Call the title company directly — on a phone number you looked up yourself, not one provided in an email — and verbally confirm the account and routing numbers before initiating the transfer.”

Red flags: a last-minute change to wiring instructions, urgency pressure ('wire today or you lose the house'), a sender email address with a slight misspelling of the title company's domain. Treat any wire instruction change as suspicious until you have confirmed it by phone.

Common Questions

How long does closing take in Florida?

Financed purchases typically close in 30 to 45 days from an executed contract. Cash purchases can close in 10 to 21 days. The variance depends on lender speed, appraisal scheduling, and title complexity.

Do I need an attorney to close in Florida?

No. Florida is a title state — a title company can conduct the entire closing without an attorney present. You may hire a real estate attorney for independent document review, but it is not legally required.

What is the 3-day Closing Disclosure review?

Federal TRID rules require the lender to give financed buyers a final Closing Disclosure at least three business days before closing. This gives you time to compare the final loan terms and costs against your original Loan Estimate. Sundays and federal holidays do not count toward the three days. If material loan terms change after the CD is issued, the three-day clock restarts.

What are doc stamps and intangible tax?

Documentary stamp taxes are Florida state taxes on certain written documents. On the deed (the sale), the seller typically pays $0.70 per $100 of the sale price. On the promissory note (the mortgage), the buyer pays $0.35 per $100 of the loan amount. The intangible tax is a one-time tax of 0.2% of the loan amount, paid by the buyer at closing — it is never charged again.