After Closing

Don’t forget these important items to attend to after you receive the keys to your new home

You still have a few things to take care of once you’ve moved into your new home.

Apply for Florida Homestead Exemption

Visit your local county property appraiser’s office in person to apply for the $25,000 exemption for the next calendar year. It’s best to apply soon after moving, and avoid the long lines in January and February. You have until Feb. 28 to apply. In some counties, you may apply online.

Find out before you go what documents you’ll need, and which other exemptions you qualify for. To claim the homestead exemption, the home must be your primary residence and you need to be a Florida resident.

Look Out For Your Recorded Deed and Title Insurance Policy

Within a few months of closing, you should receive the recorded copy of your deed, and the actual title insurance policy. The document you received at closing was just a title commitment. Keep these documents in a safe place. If you don’t get them, call your closing agent.

Talk To Your Accountant

Your mortgage interest payments, property tax, and some of your closing costs, may be deductible on your Federal tax return. If this significantly affects your taxes, you may wish to amend your tax witholding or extimated tax payments. Talk to your tax preparer or accountant about how this affects you before and after you close on your home.