Relocation Guide · Updated for 2026

New York vs. Florida Real Estate: How Buying a Home Differs

Buying in New York and buying in Florida can feel like two different businesses. Who handles the closing, what it costs, what sellers must disclose and what buyers need to inspect and insure all change. Here's a side-by-side guide for buyers and the agents who help them.

The Short Answer

In New York, attorneys typically handle closings, co-op boards approve many NYC purchases, and transfer and mansion taxes add to closing costs. In Florida, title companies typically handle closings, documentary stamp taxes apply, and buyers need to plan carefully for hurricane and flood insurance and, in condos, newer structural inspection and reserve rules.

New York vs. Florida Real Estate at a Glance

New YorkFlorida
Who handles closingUsually attorneys for buyer and sellerUsually a title company or attorney
Transfer taxesState transfer tax of $2 per $500; NYC adds its ownDocumentary stamp tax of $0.70 per $100 on the deed
High-price homes1% mansion tax on homes $1M and up, paid by the buyerNo mansion tax
Common ownershipCo-ops with board approval are common in NYCCondos and HOA communities are common
Big buyer risksBoard approval, property taxes, older building systemsInsurance costs, flood risk, condo assessments

For general comparison. Costs and customs vary by county and transaction.

The Closing Process

New York

Buyers and sellers typically each hire a real estate attorney, who negotiates the contract and handles the closing. In NYC co-ops, buyers also submit a detailed board package with financials and usually interview with the board, which can approve or reject the sale.

Florida

Standardized contracts are common, and a title company or attorney usually handles the closing. Condo and HOA communities may require their own application or approval, but the process is generally less involved than an NYC co-op board.

Closing Costs and Transfer Taxes

New York

  • State transfer tax: $2 for every $500 of the price, generally paid by the seller.
  • Mansion tax: An additional 1% on residential purchases of $1 million or more, paid by the buyer. NYC adds higher rates on homes of $2 million and up.
  • NYC transfer tax and mortgage recording tax can add significantly to costs in the city.

Florida

  • Documentary stamp tax on the deed: $0.70 per $100 of the price in most counties ($0.60 for single-family homes in Miami-Dade).
  • On a new mortgage: documentary stamp tax of $0.35 per $100, plus an intangible tax on the loan amount.

For income, property and estate taxes, see our companion guide: Florida vs. New York Taxes: What Changes When You Move.

Seller Disclosures

New York

Since March 20, 2024, sellers of covered residential property must provide the Property Condition Disclosure Statement. The old $500 credit to skip it is gone, and the form now asks about floodplains, flood insurance and past flood damage.

Florida

Sellers of residential property must give buyers a written flood disclosure covering flood insurance claims, flood damage during their ownership and assistance received for flood repairs. The requirement was expanded effective October 1, 2025.

Inspections and Insurance

  • Florida insurance: Homeowners insurance, including wind and hurricane coverage, can be a major monthly cost. Many insurers require a 4-point inspection on older homes and offer discounts based on a wind mitigation inspection. Get insurance quotes early.
  • Flood insurance: Important in many parts of Florida, and in New York's coastal and floodplain areas too. Check flood zones and get quotes before committing.
  • New York inspections: Older housing stock means buyers should look closely at heating, roofs, foundations, and well and septic systems in rural areas. Co-op buyers should also review the building's financials.

Buying a Florida Condo: Know the New Rules

After the 2021 Surfside collapse, Florida tightened condo safety rules. Condo buildings three or more stories tall now need:

  • Milestone structural inspections once the building reaches 30 years old, then every 10 years
  • Structural integrity reserve studies (SIRS) every 10 years, with reserves funded to match

For buyers, that can mean higher association dues or special assessments. Ask for the latest inspection report, reserve study and budget before you buy.

For Agents: Serving Buyers Between the Two States

Relocation buyers often assume the process works the way it did back home. Agents who can explain these differences, connect clients with the right attorney, title company, insurer and inspector, and market listings to out-of-state buyers become the trusted guide for relocation business. Statewide and nationwide MLS exposure puts your listings in front of buyers searching from Florida and beyond.

Frequently Asked Questions

Do I need an attorney to buy a home in New York?

It's standard practice. In New York, buyers and sellers typically each hire a real estate attorney to handle the contract and closing.

Who handles closings in Florida?

Usually a title company, though attorneys also conduct closings. Many Florida transactions use standardized contract forms.

Are closing costs higher in New York or Florida?

It depends on price and location, but New York, especially NYC, often has higher closing costs because of transfer taxes, the mansion tax on homes $1 million and up, and the mortgage recording tax.

What should I check before buying a Florida condo?

Ask for the milestone inspection report, the structural integrity reserve study, the current budget and any planned special assessments, and get insurance quotes early.

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