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Updated almost 7 years ago,
Closing costs Confusion - off market deal
I am currently working on negotiating an off market deal purchasing a SFH from a colleague in Minneapolis.
In order to discount the price we are working without a buyers agent and just have a facilitator to do the paperwork.
Here’s the current deal terms proposed from sellers:
$225,000 purchase price
Sellers cover closing costs estimated at $7,300
Sellers cover facilitator fee of 2% purchase price
Is $7,300 in closing costs realistic for a $225,000 purchase price in Minneapolis AND does that include both buyers and sellers closing costs?
A little confused about what closing costs the sellers would incur and wanted to make sure I have my info right before going back to sellers. Would that $7,300 cover buyers closing costs, too? Any help from any experienced realtors would help!
Thanks,
Andy