Month: May 2014

Landlord Notice to Vacate?

One of the things we all think is true is that a Minnesota landlord must give a tenant a 30-day written notice to vacate at all times. Beware, however, that if you have a specific lease term with a specific end date, the landlord may not have an obligation to provide you a written notice prior to that end date. The lease language will control over what, if any, notice a landlord must give. If you are a “hold-over” tenant, meaning you have continued to live in a unit past the date of your original lease term without entering into a new lease, THEN there will be an obligation of the landlord (or tenant) to give a 30 day written notice to end the lease term. Here is a link to the Minnesota Attorney General’s website about the kind of notice required:

www.ag.state.mn.us/consumer/housing/lt

Always remember, a lease is an enforceable contract. Read and fully understand all the terms of the lease before signing and if you have questions, contact an attorney…of course preferably me.

Purchase Agreements

Buying and selling homes can be confusing as a person does not do this type of transaction every day. I often get questions on “how” the process moves along and “when” do you have a deal. When negotiating the sale of purchase of a home, keep in mind that you do not have a deal until the terms you agree to mirror one another. That is why you will see an initial Purchase Agreement and then a number of counter off addendums circulating back and forth between buyer and seller. The key is to keep track of the changing terms to make sure you agree. Before you sign on the last piece of paper with the last change of terms, look back and make sure you understand all the terms from the initial Purchase Agreement to the last addendum in front of you. Also, keep in mind that the Purchase Agreement and the amendments (addendums) to it are enforceable contracts. Once the contingencies are satisfied, you are moving rapidly down the chute to closing and there are legal consequences if you get cold feet.

For Sale By Owner (FSBO)

We have received a number of calls this year from people wanting to sell their home without a realtor. You may find that if you are willing to put in your time and energy to market your home, you can save significant costs by having us advise you as to the proper sale documents. Remember, some Minnesota cities require that the seller is to provide a Truth-in-Housing inspection report to a potential buyer. Minnesota state law also requires a number of disclosures you must give related to the condition of the property, the presence of wells, septic systems, lead, etc. You may also need contingency addenda related to financing, sale of your home, appraisals, etc. We have worked with residential buyers and sellers, give us a call and let us know if we can help you!