Should Governments Take
Private Property?

In the next few months more Minnesotans will udder the Latin words "Eminent Domain" more than "E Pluribus Unum." For REALTORS® it's important that you understand what the discussion involves because Eminent Domain cases involve real property and its likely you will have clients and customers asking your opinion.

Eminent Domain involves the compulsory acquisition/purchase of property through condemnation for the necessary completion of a public project when a property owner is unwilling to negotiate for its sale.

In simple terms: the government wants to do something with the property owned by another, and uses Eminent Domain to "take" the property whether the owner wants to sell or not. In Minnesota an eminent domain case involves "just compensation" to the property owner using a predetermined formula and appraisals.

Continue reading this story

Over 100 Languages; a sign of the times

You're likely to encounter a consumer from time to time that does not speak English as their primary language. They may have a grasp on pieces of the language, but have difficulty speaking fluent English. This creates a problem if you are unfamiliar with the customer's native language and can cause liability if you proceed and the consumer does not fully understand what they may be agreeing to.

Your Minnesota REALTORS® have set up a link on our web site that features a host of interpreters or REALTORS® who are fluent in different languages. Currently we have over 100 languages and sign language available. You may link to the information at www.mnrealtor.com and look under consumer information/interpreters.

Suggested Open House Guidelines

Have you found yourself conducting more Open Houses as the market slows? Or perhaps you are new and a little curious about what you must do when a consumer is looking at the home. The Minnesota REALTORS® Professional Standards Committee put together "Suggested Open House Guidelines" to help you when conducting an Open House. The guidelines include:

1. An agent hosting an Open House must ask buyers who visit the property if they are under contract with another agent/broker. If they indicate "YES" you may ask if it is an exclusive or non-exclusive contract. (This is State Law)
2. Please be aware that if you send a buyer away from viewing an Open House because he/she is under an exclusive contract with another agent, you may be violating your fiduciary responsibilities to the seller. Please be sure you understand your company policy on this issue and discuss it with your seller (the client) before hosting an Open House.
3. Counsel your sellers to remove all valuables from view prior to the start of an Open House.

These are only a few examples of the guidelines you can find at www.mnrealtor.com

Seller METH Disclosure Law Can Be Confusing

Real estate licensees and sellers of existing single-family homes are required to disclose if they have any knowledge that a property is or was the site of methamphetamine production. Legislation passed in 2005 extends the meth disclosure to all property types including residential, commercial, agricultural whether it be public or privately owned.

Sellers of real property, before signing an agreement to sell or transfer, SHALL disclose in writing to the buyer or transferee whether, to the seller's or transferor's knowledge, methamphetamine production has occurred on the property.

If Methamphetamine production has occurred on the property, the disclosure shall include a statement to the buyer or transferee informing the buyer or transferee:

1. Whether an order has been issued on the property;
2. Whether any orders issued against the property have been vacated;
3. If there was no order issued against the property and the seller is aware that meth production has occurred, the status of removal and remediation on the property.

The Minnesota Association of REALTORS® has adopted a Methamphetamine Production Disclosure Statement to meet the statutory disclosure requirements when meth production has occurred on the property. You can find the form online at www.mnrealtor.com under forms. You will need your NRDS members number.

You can find out more about Methamphetamine Disclosure at the Minnesota Association of REALTORS® web site or by emailing Susan Dioury (sdioury@mnrealtor.com) with your specific questions.