Selling a Home in Rochester, Minnesota
Rochester sits in Olmsted County. Minnesota sellers pay a layered transfer tax — state, county, and (in some municipalities) a city-level tax on top. The calculator above applies the correct rates for Rochester automatically, alongside agent commissions, the owner's title insurance policy, attorney and escrow fees, and recording fees.
Rochester Transfer Tax & Closing Costs
Minnesota closings are handled by title companies. The seller customarily pays the State Deed Tax and the owner's title insurance policy. Closing fees are typically split with the buyer; recording fees are a small fixed cost at closing. Recording fees in Olmsted County are a small fixed cost at closing.
How to Estimate Your Rochester Net Proceeds
- Sale Price: Start with the agreed contract price for your Rochester property.
- Mortgage Payoff: Subtract your remaining loan balance and accrued interest.
- Transfer Taxes: Apply the state, county, and any city-level transfer tax.
- Closing Costs: Deduct commissions, owner's title insurance, attorney/escrow, and recording fees.
Rochester Net Proceeds = Sale Price − Mortgage Payoff − Commissions − Transfer Taxes − Closing Costs