What is the maximum percentage of closing costs that a seller can pay in Minnesota?

In Minnesota, the maximum percentage of closing costs that a seller can pay is set at 6%. This regulation is put in place to ensure that the seller's contribution to closing costs does not exceed a certain limit, thereby protecting both the seller's financial interests and promoting fairness in real estate transactions.

Closing costs often include various fees, such as title insurance, recording fees, and transfer taxes, and the ability for a seller to contribute to these costs can facilitate the sale. By adhering to the 6% cap, sellers can assist buyers in reducing their upfront expenses, making the transaction more accessible, without overly burdening themselves financially.

The other provided options exceed the established threshold, which may lead to complications or violations of state regulations regarding real estate transactions in Minnesota.