Special offer

Truth In Housing Inspection - Minneapolis Real Estate

By
Real Estate Agent with www.dannyrealestate.com

Minneapolis Real Estate | Truth In Housing

If you're getting ready to sell Minneapolis real estate then you'll likely have to have a Truth In Housing (also called a TISH for 'Truth In Sale of Housing.) The types of properties and sales below are covered by the ordinance:

Types of residence Types of sales
Single-family houses
Duplexes
Townhouses
First-time condo conversions
Sale by owner
Sale by real estate agent
Real estate agent-assisted sale
Contract-for-deed
Other title transfer

Note that Minneapolis condos do not requite a Truth In Housing inspection.

Truth In Housing inspection is done to ensure that homes meet a minimum standard. It is different and not as thorough as a buyer inspection. A couple important things you need to know about the inspection:

  • It's recommended that you have the inspection done a few weeks before you plan on listing the home.
  • If there are RR's (Required Repairs) we generally recommend that the seller have them completed.
  • RR's can be passed onto the buyer. If the buyer agrees to assume the repairs they'll have to sign an Acknowledgement of Responsibility form and the repairs will have to be completed within 90 days of the sale.
  • A copy of the Truth In Housing must be kept in the property for buyers to review.
  • The Truth In Housing for Minneapolis real estate MUST be done by a licensed evaluator.
  • The cost runs typically from $150-$250 depending on the company and size of home.
The other important item to remember is that a Truth In Housing inspection is very different than a buyer inspection. Though you may make all the required repairs the vast majority of Minneapolis real estate sales also include a buyer inspection. These inspection will generally be more thorough and further repairs could be needed or negotiated as part of the sale. For more info you can visit the City of Minneapolis website. If you would like information on sellingMinneapolis real estate and would like a free seller consultation please contact us at info@iMetroProperty.com or call 612.656.1200. One of our Minneapolis real estate specialists will get back to you right away.

Comments (2)

Kathy Toth
Ann Arbor Market Center Keller Williams - Ann Arbor, MI
Ann Arbor Real Estate Experts - Kathy Toth Team

Danny - This must really keep the contractors busy in Minneapolis.  I am going to read the requirements from your link.  I am just curious.

Nov 26, 2011 12:00 PM
Danny Dietl
www.dannyrealestate.com - Minneapolis, MN
Buy, Sell, Lease - iMetroProperty.com

Thanks for the comment. A lot of the items tend to be minor, but it also specifies if a permit is required and that's when a contractor would have to do the work vs a handyman.

Nov 26, 2011 12:36 PM