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Owatonna : Real Estate Advice

  • All12
  • Local Info2
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 11
Tue Feb 14, 2017
Minnleu asked:
I have been on permanent disability for just over 1 year. Lost a home to foreclosure in 2015 due to the disability. Student loans discharged in 2015.
0 votes 0 Answers Share Flag
Mon Aug 3, 2015
Josh Lund answered:
Hello Charles,
Good morning.

To buy homes NO you don't need a license.
To SELL homes . . . If it's your home you DON'T need a license. However if your going to sell other peoples homes/property then you will YES need a license. Hope this helps out. Do you have a realtor yet? If not we have preferred ones we can get you in contact with. I would like to see if I can help you out with a home mortgage. I will try and make this a very easy process. Please let me know how to help out.
Thanks much.
Josh Lund
MN District Branch Manager
NMLS # 387408
Gold Star Financial Group
Mobile: 612.802.3265
Office: 952.884.5442
eFax: 877.666.0007
... more
0 votes 1 answer Share Flag
Sun Jan 12, 2014
Judi Monday, CRS answered:
Your son can sell his condo as For Sale By Owner and your son can use you to help get it sold without you having a real estate license.
0 votes 13 answers Share Flag
Mon Nov 19, 2012
Bob Hansen answered:
I am not sure, but I think it was from the family that owned the farm place to the west. In do time the sale should be recorded at the assessors office and is public information.
0 votes 1 answer Share Flag
Tue Oct 23, 2012
Cameron Piper answered:
A great answer by Lenny. Should you care to look up the law that talks about licensure in MN, you can find it at the following webpage.

If you do plan on conducting more than 5 real estate transactions for yourself in a 12 month period, you can obtain what is called a Limited Broker's License. The reason it is required is found in statute 82.55 subdivision 19, paragraph G.

Good Luck in your endeavors!!

Cameron Piper
Coldwell Banker Burnet
Licensed MN Real Estate Broker
... more
0 votes 2 answers Share Flag
Tue Sep 4, 2012
Christopher Block answered:
Indeed sounds like you feel that your job is selling real estate, which can not be done without a license. If you are an office assistant than you should be on a salary basis. What they are trying to do is not have you as an employee on their payroll. It is almost like bird-dogging where you are 100% commission based. You only make money when you bring in business to the real estate company.

Which by the way is stupid. They are acting perfectly legally, but you are walking into a bad deal. Find a real estate broker that actually is interested in your success, because you will go broke doing real estate this way.
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0 votes 2 answers Share Flag
Sat May 26, 2012
Kathy Purdie answered:
What property are you inquiring about?
0 votes 2 answers Share Flag
Thu May 5, 2011
Christopher Block answered:
In Minnesota expect it to be about a 3month timeline if the home has already gone to sheriff sale. If it has not than there will probably be some other negotiations with the lender that might hold it up a little longer.

Also will depend on the BPO.

This is the single most important factor when it comes to Short Sales and can really cut down on the timeline.

There are a bunch of other factors to consider but it would be best to speak with someone that lists a lot of short sales down there.

... more
0 votes 6 answers Share Flag
Wed Mar 9, 2011
Jim Simms answered:
All buyers have cash, some just borrow it. The further your offer is from the value the longer it will take, usually.
0 votes 8 answers Share Flag
Wed Mar 9, 2011
James Deskins answered:
Same as without cash....................
0 votes 3 answers Share Flag
Thu Sep 24, 2009
Joy Groves answered:
If signed accepted offer has been delivered to both parties of transaction and there are no contingencies, the offer would be held as a back up offer. It would be subject to the written cancellation of your offer, due to inspection or financing issues. ... more
0 votes 8 answers Share Flag
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