Buying a Home in Hopkins......What to look out for!!

By
Real Estate Agent with Brummer Realty -

Several cities in the twin cities metro area have found a way to make some additional income from the state of the economy recently.  It's called Vacant Building Registration Fees.  Each city has the power to input and enforce the rules on vacant buildings in their city.

These fees can run anywhere from $500 to $6.746.  Yes, that is over six thousand dollars.  That is the fee that the city of Minneapolis charges for a vacant building in their city.  It used to be $1,000 but when more foreclosures started to come up vacant, they decided to increase the fee over 600%.  (I would really like to know how they justify this)

Hopkins also charges a Vacant Building Registration Fee of $500 for the first year.  It can change by how long the property is vacant for.  There are two exceptions: if it is a rental property and the owner has a valid rental license and can show proof of an effort to rent the property and also if the home is for sale and you have proof of that.

If the home had been vacant for some time before it was up for sale, the fee may still apply.  Be sure to check with the city if you a buying a foreclosed home or one you think may have been vacant at all because if the seller does not pay for this before you purchase the home, it could become your responsibility.

You can read more about it on their website at http://www.hopkinsmn.com/home/vacant/index.php

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