FLORIDA REAL ESTATE CLOSING DOCUMENTS CHECKLIST FOR LAWYERS

Copyright (c) 1999-2000 by James W. Martin, P.A. All rights reserved.

Note: This page is for background purposes only and is not intended as legal advice.
This was written in 2000 and does not reflect current law.

Date:____________________, 20___

Seller:____________________________________

Buyer:____________________________________

Closing Date:_____________, 20____

Closing Place:_______________________________

Persons Present at Closing:_____________________________________________

Contract Documents

1. Contract

2. Amendments

3. Listing agreement or brokerage commission agreement

Approvals

4. Mortgage loan approval

5. Mortgage assumption approval

6. Mortgage release approval

7. Condo or homeowner association approval

8. Lease review and approval

9. Franchise approval

Inspections, Insurance, Utilities, Taxes

10. Title insurance search ordered

11. Survey (meeting or exceeding Minimum Technical Standards)

12. Termite inspection

13. Termite treatment contract

14. Professional building inspection

15. Phase I environmental site assessment inspection with Radon and asbestos

16. City or county inspection, zoning, setbacks, pending citations, & local city rental requirements search and research

17. City and county special assessment search

18. Financial books and records inspection by CPA

19. Sales tax payment verification (Florida Department of Revenue forms DR-842 or DR-843)

20. Sales tax dealer registration

21. Ad valorem real and tangible personal property tax payment verification (County Tax Collector)

22. Property, casualty, liability, workers comp, and flood insurance with loss payee and additional insured

23. Utility accounts paid, disconnected and changed (gas, electricity, water, trash, phone, cable tv, sewer)

24. Tenant estoppel letters

25. Licenses and permits to be obtained or transferred

26. Employees to be retained or hired

27. Secretary of State certificates of existence

28. Corporate resolutions and minutes authorizing sale, conveyance and encumbrance

29. Affidavits of incumbency

30. Florida regulatory requirements (e.g., see attached list for Florida hotels and motels)

Closing Administration

31. Closing statement or HUD-1 settlement statement

32. Prorations statement

33. Closing statement agreement regarding errors

34. Brokers commission receipts

35. FIRPTA (Foreign Investment in Real Property Tax Act) Affidavit of Seller

36. 1099 designation agreement

37. 1099 affidavit

38. IRS Form 1099 or substitute

39. Cashier's checks from escrow agents and buyers

40. Cashier's check to Seller

41. Checks to pay closing costs

Title Documents

42. Title insurance commitment

43. Endorsements to title insurance commitment

44. Title insurance commitment marked up at closing

45. Title insurance exception documents

46. Deed (warranty, special warranty, PR, trustee, fee simple, or quit claim)

47. DOR form DR-219

48. Affidavit of no liens

49. Special affidavits re title

50. Leases

Loan Documents

51. Note

52. Mortgage

53. Assumption documents

54. Estoppel letter on mortgage being satisfied

55. Other lender-required documents

56. Amortization schedule

57. Separate check for points

58. Satisfaction of mortgage to be paid off

Miscellaneous

59. Bill of sale to contents and personalty

60. Assignment of warranties

61. Occupancy agreement

62. Land trust agreement

63. Deed in trust

64. Keys to buyer

65. Cover letters to clerk to record deed, mortgage and other documents

66. Other:

After Closing

67. Received recorded deed (original to buyer; copy to seller)

68. Received recorded mortgage (original to seller; copy to buyer)

69. Received satisfactions of mortgage (original to seller)

70. Received original satisfied note marked "paid" (original to seller)

71. Received title insurance policy meeting requirements of marked-up commitment

72. Other:

SOME FLORIDA REGULATORY REQUIREMENTS FOR HOTELS AND MOTELS

1. Fire safety standards for transient public lodging establishments are regulated by the State Fire Marshall in Florida Department of Insurance. Rule 4A-43.004, F.A.C. This would include requirements for fire sprinklers and elevators.

2. Hotels, restaurants and elevators are regulated by the Division of Hotels and Restaurants in the Florida Department of Business Regulation. Rule 7C-1.003, F.A.C.; Rule 61C-1.002, F.A.C.; Rule 61C-4.023, F.A.C. (manager certification).

3. Alcoholic beverages in restaurants are regulated by the Division of Alcoholic Beverages and Tobacco in the Florida Department of Business Regulation. Rule 7A-3.0141, F.A.C., Rule 7A-3.043, F.A.C.; Rule 61A-3.0141, F.A.C.; Rule 61A-3.043, F.A.C.

4. Food hygiene is regulated by the Health Program Office in the Florida Department of Health and Rehabilitative Services. Rule 10D-13.025, F.A.C.

5. Swimming pools are regulated by the Health Program Office in the Florida Department of Health and Rehabilitative Services. Rule 10D-5.130, F.A.C.

6. Septic tanks and other onsite sewage treatment and disposal systems are regulated by the Health Program Office in the Florida Department of Health and Rehabilitative Services. Rule 10D-6.044, F.A.C.

7. Sales tax, local options resort tax, transient rentals tax, local option food and beverage tax, convention development tax, and other taxes are regulated by the Florida Department of Revenue. Rule 12A-1.060, F.A.C.; Rule 12A-1.061, F.A.C.; Rule 12A-3.003, F.A.C.

8. Advance disposal fees are regulated by the Florida Department of Revenue. Rule 12A-18.006, F.A.C. (Restaurants and other food service businesses).

9. Corporate income taxes are regulated by the Florida Department of Revenue.

10. Intangible personal property taxes (tax on stocks, bonds, and other investments) are regulated by the Florida Department of Revenue.

11. Ad valorem real estate taxes are regulated by the Florida Department of Revenue but collected by the County Tax Collector.

12. Ad valorem tangible personal property taxes (tax on equipment, furniture, inventory, etc.) are regulated by the Florida Department of Revenue but collected by the County Tax Collector.

13. Advertising on official state transportation maps is regulated by the Florida Department of Transportation. Rule 14-117.003, F.A.C.

14. Labor, child labor and unemployment tax is regulated by the Florida Department of Labor and Employment Security. Rule 38H-14.002, F.A.C.

15. Water usage, disposal and wells are regulated by the Southwest Florida Water Management District, by the West Coast Water Supply Authority, and by the Florida Department of Environmental Protection.

16. Storage tanks above and below the ground are regulated by the Florida Department of Environmental Protection. Rule 62-761.200, F.A.C.; Rule 62-762.200, F.A.C.

Note: Other state, federal and local regulatory matters may be applicable and should be investigated.

GovernmentFilesOnline.com was also established by Florida lawyer James W. Martin.