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From Contract to Closing: A Miami-Dade Homebuyer’s Journey

  • Writer: Chris Manzano
    Chris Manzano
  • Jun 14
  • 3 min read

Buying a home in Miami-Dade County is both exciting and complex. The vibrant South Florida market moves quickly, and understanding what happens once your offer is accepted can help you navigate the process with confidence. Let’s walk through a typical real estate transaction from a buyer’s perspective — from the moment the contract is signed to the day you get the keys.


1️⃣ The Offer is Accepted — You’re Under Contract

Once your offer is accepted by the seller, the contract is fully executed and your official homebuying journey begins. Key dates are now locked in, including:

  • Inspection period (due diligence window)

  • Financing and loan commitment deadlines

  • Closing date

In Miami-Dade, many contracts follow the standard "AS IS" Florida Realtors/Florida Bar contract, which includes built-in protections for buyers during inspections and financing.


2️⃣ Deposit of Escrow

You’ll typically wire your initial escrow deposit within 1-3 days of the contract execution, as agreed upon. This deposit shows your good faith and is credited toward your closing costs or down payment.


3️⃣ Inspections & Due Diligence

During the inspection period (often 7-10 days), you’ll schedule:

  • General home inspection

  • Termite inspection (WDO)

  • Roof, HVAC, plumbing, and electrical evaluations

  • Insurance inspections (4-Point, Wind Mitigation, etc.)

Based on these reports, you can request repairs, credits, or move forward as-is.


4️⃣ Loan Application & Processing

If you’re financing, your lender (hopefully Manzano Mortgage Co. 😉) will:

  • Finalize your loan application

  • Order an appraisal

  • Submit your loan for underwriting

  • Collect necessary documents (income, assets, employment, etc.)

  • Provide you with a Loan Estimate (LE) outlining your projected closing costs and payment


5️⃣ Title Search & Title Commitment

The title company (or attorney, depending on the deal) will:

  • Review the property’s title history

  • Order a municipal lien search

  • Ensure no outstanding liens, violations, or unpaid taxes exist

  • Issue a preliminary title commitment for closing


6️⃣ HOA/Condo Association Application (if applicable)

If you’re purchasing in a condo or homeowners association:

  • Submit your application

  • Pay any required application or processing fees

  • Obtain association approval prior to closing


7️⃣ Final Loan Approval & Clear to Close

Once underwriting is complete and all conditions are satisfied, you’ll receive a clear to close — meaning you’re fully approved and ready to schedule closing.


8️⃣ Final Walk-Through

Usually conducted 24-48 hours before closing to verify:

  • The property is in agreed-upon condition

  • Any repairs have been completed

  • No new damage has occurred


9️⃣ Closing Day

You’ll meet at the title company or attorney’s office (or conduct a remote closing) to:

  • Sign your loan and closing documents

  • Pay your remaining funds to close via wire transfer

  • Receive copies of your executed documents

  • Collect your keys — Congratulations, you’re a homeowner!


What Do Miami-Dade Buyers Typically Pay for at Closing?

Let’s break down the typical buyer-paid items seen in a Miami-Dade real estate closing:

Item

Estimated Cost Range

Loan Origination / Lender Fees

$1,000 - $1,500

Appraisal

$500 - $700

Credit Report

$50 - $100

Underwriting & Processing Fees

$600 - $900

Title Insurance (Owner's Policy - often seller paid, but varies)

Negotiable

Title Closing Fees

$500 - $1,000

Survey (if required)

$300 - $600

Inspection Fees (General, Termite, etc.)

$400 - $700

Association Application Fees (if condo/HOA)

$100 - $300

Prepaid Property Taxes (prorated)

Varies

Prepaid Homeowners Insurance

Typically 1 year upfront

Recording Fees, Transfer Taxes, Intangibles

Roughly 0.7% - 1% of purchase price

Final Thoughts

The Miami-Dade market moves fast, but with the right guidance and preparation, the journey from contract to closing can be smooth and stress-free. That’s exactly where our team comes in.

If you're ready to take your first step toward homeownership, we’re here to walk you through every detail — from contract negotiations to closing table.


📞 Contact us at:


Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute legal, financial, or professional advice. While every effort is made to ensure the content is accurate and up-to-date, laws and regulations may vary, and individual circumstances differ. For personalized advice, please consult a licensed professional. Manzano Mortgage Co. is not a law firm, and this content should not be considered a substitute for legal advice.

 
 
 

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