|Seller’s Disclosure Alternatives||No||Yes|
“Things should be made as simple as possible — but not simpler.”
You know something’s complicated when it literally requires a table (above) to keep track of everything.
So it is with the disclosure obligations of Minnesota home sellers — and their agents.
In plain English — or as plain as I can make it — sellers have a duty to disclose what they know about the home they’re selling, unless they and their Buyer agree to waive the Seller’s Disclosure (in a document known as the “Seller’s Disclosure Alternatives”).
Meanwhile, listing agents (representing Sellers) have their own, independent duty to disclose anything they know about the home.
Ironically, that duty applies even when the Seller has no such duty — the case when the Buyer and Seller agree to waive the Seller’s Disclosure.
Got all that??