There are a few disclosures that sellers can make to prospective buyers. Most of them are contained in one document called the Seller’s Disclosure. We’ll also talk about required city inspections in this video. Stay tuned.
The seller’s disclosure is filled with information that the seller knows about the property. It’s usually in their best interest to fill out as much information as possible. This document is often left at the property for buyers to see. Generally, it includes information such as the age of the roof, the condition of the appliances, whether they’ve made changes to the property, and the like. Along with this, if the house is older than 1978, there will be a lead based paint disclosure.
There are a dozen or so cities that require some sort of pre-sale inspection report. They all call it something slightly different, from Truth In Sale of Housing (TISH), to Point Of Sale (POS)). We generally refer to all of them as a TISH report. Some of these cities have inspectors on staff that will come out to the house to do the inspections (Richfield), and others have independently certified inspectors (Minneapolis, St. Paul). Either way, they’ll come out to inspect the home and write up a report.
Some cities require this inspection to be performed before the house is available on the market (Minneapolis), while some say it has to be done by closing (Richfield).
But wait, it gets more complicated than that. Some require some repairs to be made (Bloomington, Minneapolis, St Paul), while others require all repairs to be done prior to closing (Richfield).
To be different than other cities, some only require a sewer scope inspection such as Golden Valley and West Saint Paul.
This isn’t an inclusive list of all cities that require some sort of inspection, we just mentioned a couple cities that do require it. This information can be helpful to buyers though it does not replace a full buyer’s inspection.
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