Three types of escrow agents
1. Independent title company
Specialized in title insurance and closings, independent of any broker or attorney. FL examples: First American Title, Stewart Title, Fidelity National Title, Old Republic Title, Chicago Title (local subsidiaries).
Pros: neutrality, massive experience, solid technical infrastructure, RON available.
Cons: price sometimes higher than smaller alternatives.
2. Brokerage with integrated title
Many large brokerages have their own title company subsidiary (e.g., Berkshire Hathaway HomeServices Title, Coldwell Banker Title). Efficient but creates potential conflict of interest — the broker gets benefits for routing closing through their subsidiary.
Pros: simplified coordination.
Cons: conflict of interest, sometimes less neutrality if dispute.
3. FL real-estate-specialized attorney
Some FL attorneys act as closing and title agent. More expensive but legal counsel included.
Pros: cross-border legal counsel, seller negotiation if complex curing, estate or trust handling.
Cons: $1,500–$3,500 USD instead of $500–$1,000 for title company alone.
Selection criteria
- Foreign buyer experience: knows FIRPTA, Foreign Buyer Rider, ITIN, RON.
- Bilingual capacity: if you want French communication.
- Responsiveness: 24 h max email response.
- Clear fee communication before contract signing.
- RON acceptance if remote signing.
- Lender coordination capacity if financed.
- Track record on Google Reviews, Better Business Bureau.
- Physical presence in property county (recording speed).
Fees and negotiation
Typical escrow / title fee components:
| Item | Typical cost | Negotiable? |
|---|---|---|
| Settlement / Closing fee | $300–$800 | Yes |
| Title search fee | $150–$400 | Yes |
| Title insurance owner's policy | ≈ 0.5 % of price | No (FL regulated) |
| Title insurance lender's policy | ≈ $25 supplement | No |
| Recording fees | $50–$150 | No (county fees) |
| Doc prep fee | $50–$200 | Yes |
| Wire fee | $25–$50 | Sometimes |
| RON fee | $25–$80 | Yes |
| Endorsements | $50–$500 each | By endorsement |
Compare 2–3 closing fee quotes before choosing. Possible $200–$500 savings on negotiable fees.
Who chooses in FAR/BAR contract
The FAR/BAR contract has a "Closing Agent" box. Per regional convention:
- Counties where buyer pays owner's title (Miami-Dade, Broward, Palm Beach, Sarasota): buyer chooses closing agent.
- Counties where seller pays: seller chooses traditionally, but buyer can negotiate or impose their choice.
For a Canadian, demanding to choose the escrow agent (or at least veto rights) protects your interests.
Mistakes to avoid
- Accepting closing at broker without checking conflict of interest.
- Not comparing fees across 2–3 title companies.
- Choosing a company without cross-border experience = likely delays.
- Forgetting to verify RON if not at closing.
- Wiring funds to email-only details without phone call = max wire fraud risk.
- Not verifying DBPR or Florida Bar license of escrow agent.
Every figure, rate, threshold, and deadline in this guide is drawn from a verifiable primary source listed at the bottom of the page. The article is updated whenever the underlying rules change, with a fresh review date stamped at the top.
Sources and references
All sources were publicly accessible at the last review date. Figures and rules may change; verify the current version before any decision.
- Florida Statutes §475.25 — Real estate broker escrow accounts. flsenate.gov/§475.25
- FREC Rule 61J2-14 — Trust account rules. flrules.org
- Florida Statutes Chapter 626 — Title insurance regulation. flsenate.gov
- Florida Bar — Real Estate Section. floridabar.org
- Better Business Bureau Florida. bbb.org
You've completed Topic 01.6
Title and closing covered. Next: Topic 01.7 on closing costs and taxes.