Lead-based color disclosure – If the residence was built before 1978, the seller must provide the buyer with written information describing their knowledge of the use of lead-based paint on the land (if applicable). Please consider asking a lawyer to arrange your sales contract. Although brokers are allowed to fill out forms, most of them do not have good design capabilities and are likely to design documents that can be challenged or severely deficient. We`ve seen many examples of poor broker design capabilities that have hurt many Minnesota consumers. As soon as a buyer is interested in buying your home, their agent will help them write a contract of sale (PA). This pa consists of contact with the purchase with all grudges and disclosure of sellers and other complementary documents. The total duration of the standard purchase contract today is about 30 pages, including the seller`s disclosure. With the sales contract, we would expect to get prior authorization from the buyer`s mortgage company as well as a copy of the serious money. The sales contract document and all the various additions are a series of standard forms developed by the Minnesota Realtors Association in collaboration with lawyers. The document is actually very easy to understand and you should familiarize yourself with it before it`s time to check out an offer. After receiving an offer, we can discuss the terms and start negotiations. You basically have 3 ways to respond to the offer: Accept – Accept the conditions as they are counter – Change some of the conditions and go back to the buyer Refuse – let them know that it is not close enough to consider facing the offer If the offer is much too low, I almost always recommend not to decline an offer, but fight back at full price.

The Minnesota Residential Real Estate purchase and sale agreement is a document that is used to formalize an offer to purchase real estate. The written agreement must contain the amount offered by the buyer, how he can finance the purchase and the duration during which his offer is open. State law requires the buyer to receive a disclosure of all defects or deterrents that the domicile has. This written statement must be given to potential buyers before a written agreement is reached. If we wait too long, say the next day or the next night, they will have “cooled down” a bit, and they may get frustrated and withdraw their offer. I know “in a few hours” is vague, but every situation is different. If, as a seller, you need to consult with other members of your family to sell the home, then we usually let the buyer know that you are not buying their offer and that this is a joint decision with family members in different places. . . .