Finding the right home at the right price is just one aspect of a real estate transaction. Homestead Realty LLC is experienced at assisting both buyers and sellers when it comes to closings. E-mail or call us today at 507-893-4803 if your needs include a professional REALTOR® experienced in the business side of real estate.

Closing costs you should expect

There are certain normal costs associated with closing the sale of a house. These costs are usually divided between the buyer and seller, as noted in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in Minnesota to help show you through your process.

Loan-related closing costs    (Learn more)

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

At closing, these taxes are usually paid    (Learn more)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Learn more)

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

Sellers: As we negotiate your sale, I'll not only work to get the highest sales price, but I'll also campaign for lower closing costs. And once we've reached an agreement, I'll describe in detail the closing costs so you know exactly what you're paying for.

Buyers: If you're purchasing a home in Faribault County, you will 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 past experiences and is required to be within a tolerable range so you're not startled when you get to the closing table. I'll be willing to go through the GFE with you, answering your questions and highlighting any estimates that are uncertain.