How much earnest money do you need for a Minneapolis home offer — and when can you get it back? Most Minneapolis buyers put down 1% to 3% of the purchase price as earnest money in 2026 — roughly $4,000 to $10,000 on a $400,000 home, and $20,000 to $60,000 on a luxury offer in […]

Do you pay capital gains tax when you sell your Minneapolis home?   Most Minneapolis sellers pay zero capital gains tax on a primary residence sale. The federal home sale exclusion lets you exclude up to $250,000 of profit if you’re single or $500,000 if you’re married filing jointly, and Minnesota follows that same exclusion […]

Should you add a sewer scope inspection to your Minneapolis home offer?   Yes — on almost any Minneapolis home built before and /or about 1980, and especially anything in Linden Hills, Lake Harriet, Lake of the Isles, Kenwood, or Cedar-Isles-Dean. A sewer scope costs $125–$500, takes under an hour, and catches private-lateral damage that […]

What happens when the appraisal on a Minneapolis home comes in low?   When a Minneapolis home appraisal comes in below the contract price, the buyer’s lender will only fund the loan up to the appraised value, leaving a gap that someone has to cover. You have five real options: the buyer brings cash to […]