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Closing Costs for Buyers in Key West: A Complete Breakdown
What are the closing costs for buyers in Key West, Florida? Buyers purchasing a home in Key West typically pay 2%–5% of the purchase price at closing if financing, or 1%–3% if paying cash. On a $1.5 million financed purchase, expect roughly $35,000–$55,000 in total closing costs—including Monroe Cou
Capital Gains Tax When Selling Your Key West Vacation Home
Do you owe capital gains tax when selling a Key West vacation home? Yes. If you're selling a Key West home you've used as a vacation property or second home — not your primary residence — you owe federal capital gains tax on your full profit. The $250,000 exclusion ($500,000 for married couples) onl
Assumable Flood Insurance in Key West: The Question Every Buyer Must Ask
Can You Assume a Flood Insurance Policy When Buying a Key West Home? Yes — NFIP (National Flood Insurance Program) flood insurance policies are fully assumable. A buyer can take over the seller's existing policy at the seller's locked-in rate. In Key West, where new flood insurance policies routinel
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