Don't forget to factor in closing costs when considering a home sale or purchase. Dan McNellis is experienced at aiding both buyers and sellers when it comes to closings. E-mail or call me today at 651-373-0938 if your needs include a professional REALTOR® ready for the business side of real estate.

Closing costs you should expect

There are certain expected fees related to closing the sale of a house. These costs are commonly divided between the buyer and seller, as noted in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in Minnesota to help guide you through the deal.

Loan-related closing costs    (Click here for details)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

Taxes commonly paid at closing    (Click here for details)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for details)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we get through the details of your transaction, I'll not only work to get the highest sales price, but I'll also campaign for limited closing costs. And once we've arrived at an agreement, I'll fully clarify the closing costs so you are informed of exactly what you're paying for.

Buyers: When purchasing real estate in Minnesota County, you'll receive a "Good Faith Estimate" (GFE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's previous experience and is required to be within an acceptable range so you're not astonished when you get to the closing appointment. I'll be happy to look at the GFE with you, answering your questions and highlighting any estimates that seem off.

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