7620 118th Way N Champlin – 4 Bedroom Home For Sale – Moves to Pending status!
Champlin home sales are going fast! This 4 bedroom Champlin home for sale was under contract in just 3 days! To see more 4 bedroom Champlin homes for sale, or check your Champlin home value here, for Free!
Free Champlin Home Value
Sellers Closing Costs
Did you know that you will be responsible for paying your own closing costs? Although, you may have known, do you know what the closing costs include? You will pay the state deed tax, of course, the state does take a fee… there is also a recording fee, you will pay your taxes in a prorated form and receive a credit if you have already paid for the first or second half of taxes in full.
The title company, escrow company or attorney that you chose to use will likely have a fee for their services as well as any concessions that would be asked for from your buyer. This doesn’t mean you have to pay them, but it’s possible that you could have some additional expenses beyond the obvious.
Realtor fees, it’s customary that seller in Minnesota pays the realtor fees for both the listing agent and the selling agent, or buyers agent. The fee is negotiable so ask your realtor what they charge.
Beyond the ones that I have mentioned above, you may have additional unsuspecting fees that come with selling your home. Pay special attention to any notices that you may have received from the city or county regarding and special assessments on the property. The standard purchase agreement does have language in there that covers who will pay the balance if there is an assessment on the property. It’s possible that your buyer will assume that assessment, but you will want to seek advice from your Realtor on how to negotiate those expenses BEFORE you have a buyer.
Inspection items, it’s very likely your buyer will want to complete a buyers inspection on the property (the fee is at the buyer’s expense), however, that doesn’t limit you to not have any additional expenses. The buyer’s inspection will be looking at code changes, safety and the lifespan of your home as a whole, but mostly your mechanicals, roof, siding the life of your appliances and windows. If any are failing or unsafe, it’s possible the buyer could be asking you to compensate, or contribute to a repair or offer a price reduction to take care of the matter after the home is closed.