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Four More Richfield Homes SOLD!

A peek at the homes SOLD! in Richfield at the end of the third week of March 2011.

Four more Richfield homes were SOLD! at the end of the third week of March 2011. Now that the home buying "season" is starting to heat up, many may have questions on costs of services and closings. Patch is here to help:

Buyers often ask sellers to help pay for closing costs and other transaction expenses. The seller doesn’t actually pay for these out of pocket. This money comes out of the seller's proceeds for the sale of the home. Most of the time, that amount is wrapped into the buyer’s mortgage. Buyers ask for this to help lower lump sum costs at closing.

While this does increase a mortgage, costs like these don't add much to a monthly mortgage payment when spread over 15 or 30 years. To figure the actual closing price, subtract the seller contribution from the sold price to get the actual selling price of the home.  

The following information details the four homes sold last week:

1) 6645 Columbus Ave. S.

Listed by Edina Realty

Two bedrooms, one bath

Days on Market: 219

Original List Price: $179,900

Sold Price: $145,000

Seller Contribution: $7,250  

2) 1716 W. 68th St.

Listed by TRI Realty

Three bedrooms, two baths

Days on Market: 64

List Price: $149,800

Sold Price: $145,000

Seller Contribution: $7,000  

3) 7332 3rd Ave. S.

Listed by Re/Max Results

Two bedrooms, one bath

Days on Market: 89

Original List Price: $139,900

Sold Price: $122,000

Seller Contribution: $4,985  

4) 7027 12th Ave. S.

Listed by Realty Group, Inc

Three bedrooms, two baths

Days on Market: 22

List Price: $107,000

Sold Price: $103,500

Seller Contribution: $250

Come back every Friday for another list of SOLD! properties in Richfield.

Stephanie Fox is a licensed real estate agent with Coldwell Banker Burnet.

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