If you have ever wondered exactly what a Truth in Housing or Time of Sale inspection is and what it means to you as a home seller
or a home buyer
you have stopped at the right place. What you may not know is that Truth in Housing inspections are not required in all cities in the State of Minnesota. I'll just take a moment of your time to clear it up for you starting on the home selling side.
If you have made the exciting decision to sell your home you may be required to have a Truth in Housing inspection completed on your property. What this means is that before your house gets listed on the market an inspector (either private or city mandated) will come to your home to look for potential problems that the city feels the buyer should know about. Some items that they look for are issues with the plumbing, electrical, heating or cooling systems, wetness or dampness in the basement area, or an unstable foundation. If you are worrying about whether or not you have to fix everything that the inspector finds, be rest assured that only some cities require you to fix items. The cities that do require you to fix items are looking for those items that pose an immediate hazard to the occupents of the house. Other items are fine left alone but will be disclosed to potential buyers in a report drafted by the inspector.
As a home buyer you should always keep in mind that an inspection protects everyone. If the home you are interested in requires a Truth in Housing inspection then you are one step ahead in the home buying process, as potential hazards have been documented and are available to you. It is also recommended that you request a home inspection when submitting a purchase agreement so you make an informed decision on the potential hazards you face with that home.
If your unsure whether your city, or the city your interested in living in requires a Truth in Housing or Time of Sale inspection or if you would like to see what the requirements are for each city, please click on the attachment to get more information.?