Anyone looking to sell a house in Minnesota must give buyers important information about the property. State law requires sellers to share any “material facts,” which are anything that might affect the buyer’s use or enjoyment of the home. Real estate agents are also required to give buyers any important details of which they are aware. If a seller omits any of this information, they can be held legally responsible. If you are considering buying or selling a house, contact a skilled Minnesota real estate lawyer today.
Minnesota’s Rules for Seller Disclosures
Any time a seller transfers or sells a house, they are obligated to share certain information before any contracts are signed. This disclosure must include any important facts that the seller knows that could seriously affect:
- How a buyer would traditionally use or enjoy the property
- Any special use the buyer plans for the property that the seller is aware of
“Material facts” often include issues such as existing damage, past water leaks, construction defects, broken or failing mechanical systems, or issues with the land around the home.
There are, however, a few exceptions to the disclosure rule. The main one is that sellers don’t have to disclose anything about a newly built home that has never been lived in. Buyers of new builds are protected under a different set of laws, including Minnesota’s new home warranty rules.
Material Defects That Sellers Must Disclose
Every home is different, but Minnesota law clearly lists the kinds of problems sellers are required to tell buyers about. These problems may include:
- Flooding: Tell the buyer if the house has ever flooded
- Radon gas: Tell the buyer if the home has high radon levels, and show any test results or proof of repairs
- Lead-based paint: If the home was built before 1978, you must give a lead-paint disclosure
- Private septic system: Tell the buyer if the home uses its own septic tank instead of city sewer
- Water wells: Show the buyer where any wells are, whether they’re being used or sealed
- Underground storage tanks: Tell the buyer where any storage tanks are, even if they’re sealed
- Past meth production: Tell the buyer if the home was ever used to make meth
Minnesota’s list of mandated disclosures is an extensive one, particularly for older houses. That is why it’s wise to work with a knowledgeable Minnesota real estate lawyer from the start. They can help you prepare the right disclosures for your property.
Disclosure Rules for Brokers and Salespeople
Minnesota estate agents must tell potential buyers any important facts they know about the property that could seriously affect how a normal buyer uses or enjoys the home. They also must share anything they know that could affect the specific way the buyer plans to use the property.
Inspection Reports and Seller Responsibilities
A seller or real estate agent does not have to repeat information that already appears in the buyer’s professional inspection report. But they still must tell the buyer about any important facts they know that disagree with, or are different from, what the inspection report says.
What Happens If a Seller Fails to Disclose?
A seller or real estate agent can be held responsible if they do not share the required information about a property. But Minnesota law, and sometimes the contract, may limit how long a buyer has to file a lawsuit or start arbitration. Because of this, any buyer who thinks the seller failed to disclose something important should talk to an attorney right away.
Disclosure Issues? A Minnesota Real Estate Lawyer Can Help
Understanding your rights as a buyer or seller can help you avoid costly problems later on. Real estate laws can be confusing, but getting the right legal guidance can make the process much easier and protect you from future disputes.
If you need help with a disclosure issue or any real estate matter, call Wegmann Law Firm at (636) 797-2665 or reach out online to speak with a Minnesota real estate lawyer and get clear, straightforward advice.
