I see it often and I hear every now and again...
A FSBO that gets sued because they don't understand the law of disclosure.
Minnesota is a full disclosure state. It does not matter if you sell on your own or not, you MUST disclose. (There are other options, but they don't let you out of the full disclosure.)
I called a FSBO for a client of mine this week. I asked the Seller for disclosures.
"I don't have any...I am sell AS-IS."
I explained that the law states otherwise.
"Aww, that is just a bunch of Bull."
So, I explained the scam that I have seen where the seller does not give disclosures...the Buyer fixes the home and then takes the seller to court for not disclosing. The Seller loses every time! The cost to most sellers is more than double the commission amount.
If you are going to sell on your own...KNOW THE LAW. Or you could end up seeing a judge in court!
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