Julie Hartigan

Many of us like to go shopping without being bothered by sales associates. But, it is wise to know and understand what your rights are for homebuying because it may be one of the biggest decisions of your life.

The state requires real estate agents to disclose to you (buyers and sellers) your rights. This first disclosure, Agency Relationships in Real Estate Transactions, is not a contract but a disclosure. Some people hesitate at first unless they have built a relationship with a licensed real estate agent. We, as agents want you to know "who" represents "who".

Line 62 & 63 of the disclosure states...This disclosure is required by law in any transaction involving property occupied or intended to be occupied by one to four families as their residence.

Please seek legal advice if you do not understand the contract or disclosure that you are being asked to sign.

The following exerpt is furnished for you by the Minnesota Attorney General's website in the Home Buyer's Handbook. (www.ag.state.mn.us)

If you work with a real estate agent, you will be asked to sign several contracts to clarify your relationship
with the agent. Don’t sign the forms until you understand them. Make the agent keep explaining
until you do. These forms are signed when you have your first significant contact with the agent (for
instance, when you contact the agent about representing you), or when you are ready to sign a purchase agreement.

Most of these disclosures relate to something called “dual agency.” The term refers to an agent
representing a buyer in an offer on a house when that agent actually owes a duty to the seller of the house.
An agent in this situation has dual loyalties. This situation arises when your agent finds you a house
listed for sale by his or her agency. In some areas there are thousands of homes for sale and just a few
big real estate agencies, so there is a good chance your agent will show you homes listed by his or her
agency.

Some people say it is nearly impossible for an agent to represent the buyer and seller equally because the seller is trying to get the highest price possible for a home, while the buyer is trying to get the lowest price.

Owing a duty to the seller may mean that the buyer’sagent will disclose confidential information about the
buyer to the seller. For example, the agent may disclose to the seller that the buyer is able to come up
with another $2,000 to get the seller’s house, if necessary. Recent statutory changes require agents to
clarify their role and the information they will share before an offer is made.

Buyer’s Dual Agency Disclosure Agreement and Representation Election.This is a form signed at the first significant contact with an agency. A buyer signs this agreement to become either a “customer” or a “client.” The difference between the two is important.

A customer of the real estate agency is shown houses and is given help with the mechanics of the
transaction. Customers elect not to have an agent help with price and terms of the sale. The agent is a
messenger, merely delivering the customer’s offer to the seller... - Thu Jul 24 2008, 14:04

Hi Gregg:

In my opinion, if the real estate agent wants to list your lot for a specific builder, then maybe that builder should buy the lot outright from you. Find out whether that builder has the resources to do that. From a buyer's standpoint... it may just be a builder that would purchase your lot.

Many blessings! - Wed Jul 23 2008, 14:16

I am working with someone and have been told they have raised this fee, usually paid by the seller to $599. This is how the seller can contribute to the buyers closing costs on some loans. Since there are so many changes in the mortgage industry it is best to speak to a mortgage company or a loan officer regarding the details of this progam. - Thu Jul 17 2008, 11:31

Welcome!

Minneapolis has a lot of variety to choose from between the city and the suburbs. For example, the lakes area in South Mpls is popular and just west of the city, for example, where I live in Plymouth, is only 8 miles from the edge of downtown. These areas offer park and ride facilities where you can park your car and ride the bus into downtown. There are also many community parks plus large and small shopping malls.

I can send you a Welcome Guide (The Premier Relocation Guide) from TwinWest Chamber of Commerce (www.twinwest.com) which is the Chamber of Commerce for Plymouth, Minnetonka, Medicine Lake, Golden Valley, New Hope, Crystal, Hopkins, St. Louis Park, Brooklyn Park, Brooklyn Center or you could call them directly for one at 763-450-2220. Three River Parks District (www.threeriversparksdistrict.org) has much to offer as well.

Here are a few cities to choose from. Trulia.com has a searching device for properties. If you would like additional information sent to you, please email me from my website.

Safe travels...happy house hunting! - Thu Jul 17 2008, 11:25

That is a good question. If you are concerned about radon you should have any home in Minnesota you are considering purchasing - tested for it.

Here are a couple of excerpts from the Minnesota Department of Health's websitehttp:// www.health.state.mn.us/divs/eh/indoorair/radon:
Why is radon important?
The U.S. Environmental Protection Agency estimates that each year 21,000 people die of lung cancer as a result of being exposed to elevated levels of radon. Radon is the second leading cause of lung cancer for smokers and the leading cause of lung cancer for non-smokers.

Although radon is present throughout the environment, radon levels indoors are generally higher which increase the risk of cancer.

Why is radon a common problem in Minnesota Homes?
Much of the soil in the Upper Midwest contains widespread uranium and radium. These minerals continuously break down to release radon gas. Therefore, Minnesota's geology provides an ongoing supply of radon.

In addition, a large percentage of Minnesota homes have elevated levels of radon in the indoor air because of how they are built and how they operate in our climate. One important factor is that many Minnesota homes have basements that are uses as living spaces.

MDH estimates that about one in three (1/3) Minnesota homes have enough radon to pose a significant risk to the occupants' health over many years of exposure.

There is also a handbook from the epa websitehttp:// www.epa.gov/radon/pubs/
Home Buyer's and Seller's Guide to Radon - Sat Jun 28 2008, 21:27