Sioux Falls, SD real estate: buy or sell with a local AXEN agent
Sioux Falls sits in two counties, Minnehaha and Lincoln. Your county sets who values the home and where you go to appeal. And every rental in the city, long or short stay, needs a city permit before you list it.
What are the popular neighborhoods in Sioux Falls?
Popular Sioux Falls neighborhoods include Downtown Sioux Falls, Cathedral Historic District, All Saints, McKennan Park, Pettigrew Heights and Lincoln County side. Each one prices differently, so ask your agent for recent sales in the ones you like.
Also near Sioux Falls:
What should you know before buying a home in Sioux Falls?
In Sioux Falls, the seller pays the state transfer fee, not you. To get the lower owner-occupied tax rate, file with your county by March 15. Check the city's floodplain map too, because the city counts the whole lot if any part is in it.
The rules that apply everywhere in South Dakota are on the South Dakota page. These are the Sioux Falls details that trip people up.
Get pre-approved →- File for owner-occupied status. South Dakota gives a lower school tax rate to a home you own and live in. You must own and live there by November 1. Then file the form with your county by March 15. The old owner's status ends when the home sells.
- Check which county the home is in. Part of Sioux Falls is in Minnehaha County and part is in Lincoln County. Each county has its own equalization office. The city's appeal page lists both.
- Look at the city floodplain map. The city has its own floodplain map, not just FEMA's. If any part of the lot is on the map, the city treats the whole lot as in the floodplain. The Big Sioux River and Skunk Creek are the main flood sources.
- A rental needs a city permit first. Every long-term and short-term rental in Sioux Falls needs a permit. You must have it before you advertise or let anyone move in. Short stays also need a state lodging license.
- You get the disclosure before you offer. State law says the seller must give you a filled-out disclosure statement before you make a written offer. If something big changes before closing, the seller must tell you in writing.
What should you do before selling a home in Sioux Falls?
Before you sell in Sioux Falls, fill out the state seller disclosure form. The buyer must get it before they make a written offer. Plan for the state transfer fee of 50 cents for each $500 of price.
The seller pays the transfer fee.
South Dakota charges 50 cents for each $500 of value, or part of $500. By law the seller pays it. The deed also needs a certificate of value to record.
Give the disclosure early.
Hand the buyer your disclosure statement before they make a written offer. If you learn of a big change before closing, give them a written update.
Hand off a rental permit in writing.
If you sell a rental, the new owner must tell the city in writing within 30 days. There is no fee to move the permit when they do.
Sioux Falls real estate questions
Who pays the transfer fee in Sioux Falls?
The seller. South Dakota law sets it at 50 cents for each $500 of value, or part of $500.
When do I file for the owner-occupied tax rate?
By March 15. You must own and live in the home on November 1 before that. Send the form to your county Director of Equalization. One person can only claim one home in the state.
How do I appeal my Sioux Falls value?
Talk to your county equalization office first. Then send a written appeal to the city's local board. It is due by the Thursday before the third Monday in March.
Do I need flood insurance?
The city does not decide that. Your lender usually does. Check the FEMA map and the city's own floodplain map before you buy.
Can I Airbnb my Sioux Falls home?
Only with a city rental permit and a state lodging license. You need the permit before you advertise. Each rental address needs its own permit.
Buying or selling in Sioux Falls? Talk to a local agent.
An AXEN agent who works in Sioux Falls answers your questions for free. No cost to talk. No pressure to sign anything.