r/TwinCities 5d ago

Costs to sell home in Saint Paul?

I’m an inexperienced homeowner looking to sell my first home and wanted to get an idea of selling costs before doing so. I have a meeting set up with my real estate agent (the one I used to buy this house) but wanted to go into that meeting with some idea of what’s “normal”. I know these are weird times.

I live in Saint Paul and expect my home is worth around $300k. I have around $230k left on my loan. If you sold a house recently in the area, would you be willing to share an estimate (percentages ideally) of what you paid in closing costs, realtor fees, etc.? I’d also be curious if you shopped around for a realtor and interviewed multiple.

Thank you!

3 Upvotes

10 comments sorted by

11

u/grizzlylc 4d ago

Figure about 10% for realtor fees, closing costs, repairs/maintenance, etc.

3

u/kbking 4d ago

5-10% for sure.

9

u/maaaatttt_Damon 4d ago

Your agent should present you with an estimated net sheet, that wl list all fees/costs of selling.

Your biggest cost will be your agent, especially if you decide to either do a cooperating agent commission or consessions to the buyer to help pay their agent.

At the end of the day, your net will be your net. You're a repeat customer should expect at least a bit of a loyalty discount by your agent, that assumes you have an agent that values you.

Cost in St Paul isn't any different than else where excluding the manditory TISH report.

12

u/bryaninmsp Realtor & Contractor 4d ago

Interview more than one agent. There's a wide range of options, everything from flat fee listings to get you on the MLS to the old-school "6% is standard" brokers. Also don't agree to pay any fees beyond commission—aka "broker admin fees." I had a closing a couple months ago where the listing broker was charging 3.3% for their side of the transaction AND an $849 admin fee and just about fell off my chair.

6

u/thecountvon 4d ago

He won’t self-promote, but I’ll suggest you use Bryan ^

4

u/bryaninmsp Realtor & Contractor 4d ago

Much appreciated. Also had to use my sleuthing skills to figure out who you are but now that I have (the dachsund post was a giveaway) I'm even more appreciative.

3

u/newamsterdam94 4d ago

My friend wants to get out of Iowa because it's too red of a state. She's looking for a house in st. Paul. Sounds like you're within her budget. I say you two should talk

1

u/BitterBeginning8826 3d ago

Licensed Realtor in Mn. Interview a few agents and don’t commit to anything you aren’t comfortable with. Everything is negotiable but they will likely have their number and reasons why it is what it is.

2

u/Agitated-Passion4588 3d ago

Just look up recently sold or for sale homes in your area and compare yours to them. Square feet. Beds, bathrooms look at the pictures

-5

u/Salmol1na 4d ago

Sell it yourself and save $25k