What Can The Listing Agent Tell You About A Minneapolis Duplex?
What is a Realtor representing a Twin Cities duplex seller required to tell a buyer about a property?
If it’s a material fact, yes.
What’s a material fact? Basically, any information about a property the Realtor is aware of could impact a buyer’s decision to purchase the property, their use or enjoyment of it, or get in the way of the buyer’s intended use of the duplex.
Now that is facts, not hunches. For example, if a seller thought their roof was leaking and had a reputable licensed contractor confirm this, the Realtor would have to share this information with any prospective buyer or their representative.
However, the agent is not required to disclose:
- Whether someone living at the property had AIDS.
- If someone had committed suicide, died either naturally or accidentally on the premises, or had perceived it to have paranormal activity.
- The presence of any adult family home, community-based residential facility or nursing home.
- The presence of a registered sex offender in the neighborhood.
- Airport zoning regulations if the agent provides notice of where they can be reviewed for the area.
- Nothing about the physical condition of the report if a qualified third party inspector has done an inspection.
These requirements supersede any instructions from the seller. So, for example, if a seller instructs their agent not to tell anyone there’s a roof leak, and a licensed contractor confirms the roof needs to be replaced, the Realtor has to share that with any buyer or their representative.
That doesn’t mean a seller should hide something they’re worried about from their agent. The agent may have a referral for a great contractor who can take a look at a suspected problem. If there isn’t a problem, the seller’s mind is eased. And if not, the seller can shop for reasonable contractor or perhaps, even help file an insurance claim.