Closing Costs and Cash Buyers: What You Should Know

Did you know that sellers sometimes have to pay money as a part of selling their homes? That’s right: it’s not just about how much you can get from selling your home. Of course, who your buyer is matters, especially when it comes to closing costs. So what should you know about closing costs when it comes to selling your home to a cash buyer?

What Are Closing Costs?

Closing costs are fees that are paid as a part of the process of closing the deal on a home. They include things like credit check fees, land survey fees, property appraisal fees, attorney fees, loan application and origination fees, title insurance premiums, title service fees, government recordation fees, and transfer taxes. While these fees aren’t calculated based on a certain percentage of the sale price of a home, they often add up to somewhere between 3-4% of the sale price.

What Are Sellers Responsible For?

What closing costs sellers are responsible for depends on what is negotiated between the seller and the buyer. In some sales, the buyer is responsible for 100% of the closing costs. Other sales may see the buyer negotiating for the seller to cover some or even all of the closing costs. Some sellers may even offer to cover closing costs to make their homes more attractive to potential buyers.

Does Selling for Cash Make a Difference?

You may have noticed that some of the closing costs are related to lender services. If there isn’t a lender involved, as is the case when you sell for cash, the closing costs associated with the sale may be lower. There will still be some closing costs that either the buyer or seller (or sometimes both) will be responsible for paying, but things like loan application fees and loan origination fees won’t be part of the deal.

Closing costs can be a pain, especially if they catch you by surprise. That said, you could get away from dealing with them altogether if you sell your home to Minnesota Home Guys. We cover all the closing costs so you don’t have to pay a single cent towards them. It’s just one of the ways we show Minnesota homeowners how much we care about them.

Want to learn more about how selling your home to Minnesota Home Guys works? Click here to learn about the process and how we compare to our competitors today!

Frequently Asked Questions

Yes! Minnesota Home Guys purchases land as well as houses. Whether it’s a vacant lot, acreage, or a parcel you inherited, we’re happy to take a look and make you an offer. Just submit the property details and we’ll get back to you.

Yes, absolutely. While we’re based in the Twin Cities, we buy houses all across Minnesota. Whether your property is in the suburbs, rural areas, or small towns, we’re interested. Submit your address and we’ll let you know how we can help.

We consider several factors when making an offer, including your home’s condition, recent comparable sales in the area, market trends, and any necessary repairs. Our goal is to provide you with a fair and competitive offer based on real market data.

No! We buy houses in any condition, whether they need minor updates or major repairs. You won’t have to spend a dime on renovations, inspections, or cleaning—we handle everything.

If your home is in foreclosure, we may still be able to buy it and help you avoid a full foreclosure process. The sooner you reach out, the more options we have to help. Contact us today to discuss your situation.

No, you will not be “listed” and waiting for a buyer – we are direct home buyers, not an agent offering to list your home and hope it sells. That means you don’t have to worry about showings, commissions, or waiting for the right buyer. We buy homes with cash, allowing for a fast and hassle-free closing.

Yes! If you’re a landlord with problem tenants or an unwanted rental property, we can make you a fair cash offer. You don’t have to wait for a lease to end—we buy properties with tenants still in place. “Tired landlord” is one of the most common situations we see.

We buy single-family homes, townhomes, duplexes, multi-family properties, and even vacant land. If you’re unsure whether your property qualifies, just reach out to us!

Closing speed is based on your timeline. If you want to close fast, we can do that! If you need time, we can do that too!

Here’s how it works: Once you accept and sign our offer, we order the abstract update and a title opinion. If any title defects are found, we work with you to resolve them. Once the title is cleared, we set a closing date and begin preparing the legal closing documents. Closing date is typically 2-4 weeks from the time the offer is signed, but if you are in a hurry please call (952) 222-7138 and we can expedite the process!

When you choose to sell your property to us, we will cover the abstract update, title opinion, transfer tax, as well as closing costs. You will only be responsible to pay property tax up to the date of sale and any liens.

We guarantee closing on every offer we make. This is easily done because our team gets to know the seller, researches the property, understands current market trends, and has cash ready to close.

Yes! If your home is listed with a real estate agent, you’re still welcome to submit it to us for a cash offer. Keep in mind that if it’s under contract or you have listing obligations, you may need to coordinate with your agent—but we’re happy to work with listed properties.

Nope! One of the benefits of selling to Minnesota Home Guys is that you don’t need to lift a finger. You can leave behind furniture, trash, old appliances—whatever you don’t want to deal with. We’ll take care of everything after closing. Just take what you want and leave the rest.

Our cash offer is guaranteed as long as everything we discussed about your property checks out. The only time the offer would change is if we discover something unexpected during the title process—like a hidden lien, unpaid property taxes, or a contractor bill that wasn’t disclosed. We’re always upfront and transparent, and if something like this does come up, we’ll talk it through with you.