Can You Say, “Organized Seller?”
In Minnesota, home Sellers generally must complete a state disclosure form detailing the condition of their home, and provide it to prospective Buyers.
That is, unless the Seller and Buyer agree in writing that the Seller is waiving that duty.
In practice, most Minnesota Sellers do the former.
And that’s it.
However, anecdotally, I’d estimate that about 10% of Minnesota Sellers not only provide their own disclosure, but make available the previous Seller’s Disclosure, from when they purchased the home.
Two Pluses
Are two Seller Disclosures better than one?
“You betcha!” (as Minnesotans like to say).
Especially if the current owner has only been in the home a few years, the previous Seller’s Disclosure provides a more complete home history.
Of course, it’s also the case that Sellers who are organized enough to have their records from when they bought are usually the kind of people who are meticulous about home maintenance, too.
Not always, but most of the time, when the Seller makes available the previous home Seller’s disclosure, the home is in good repair, shows well, etc.
Historic vs. Current Issue(s)
The other reason to make available the previous Seller’s Disclosure is to address something bad that happened years ago — especially if it’s been professionally repaired and never been a problem since.
Stuff like ice dams, wet basements, old roofs, etc., which will likely turn up as issues during the Buyer’s inspection (if not before).
Proactively alerting Buyer’s to the issue(s) from the get-go — with the assurance that they’re historic in nature (assuming that’s true) — sure beats addressing something later in the deal.
See also, “Seller’s Seller’s Disclosure.”
