The Hilltop Home in a Flood Plain (Huh?!?) When a home appears on a Federal Emergency Management Agency (“FEMA”) map showing its “flood zone designation,” you might assume that the home was located in a flood plain — and subject to (very expensive) flood insurance. Unh-unh. It turns out that ALL Minnesota homes have been assigned a flood...Read More
Meticulous Record Keeping = Meticulous Maintenance? One of the first questions on the standard Minnesota Seller Disclosure asks whether the owner is in possession of the previous owner’s Seller Disclosure, and if so, whether it’s attached. As a Buyer’s agent, I always like to see the previous Seller’s Disclosure, for two reasons: One. It provides a more...Read More
As Minnesota home sellers know (or should), the required Seller Disclosure is a “live” document, up to the date of closing. Translation: if something bad happens to the house after it goes on the market, the Seller needs to update their disclosure. But, what happens if the Seller is long gone? (often the case with...Read More
Good Thing No One Saw It. Not. My take on the meth disclosure on the standard Minnesota Seller Disclosure is the same as my view of accused murderers on the witness stand: if you’re potentially capable of murder, you’re certainly capable of (and motivated to) lie about it under oath. In the same vein, someone...Read More
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...Read More
Is There Such a Thing as TMI (“Too Much Information”) on the Seller Disclosure? (Hint: “No”) I don’t know about other parts of the country, but here in conscientious, neighborly Minnesota, home sellers are more likely to volunteer too much information rather than too little on the required state disclosure form. As their Realtor, I’m...Read More
