Dangers of Waiving a Home Inspection in Minnesota
Home Buyer Beware: Waiving the Right to a Home Inspection can be a Costly Mistake
Competitive bidding in a seller's market is nothing new. The combination of low interest rates, low inventory, and a sharp rise in sales price for single-family homes has created an unprecedented advantage for sellers in the current Twin Cities housing market. However, buyers waiving the right to a home inspection before closing is uncharted territory.
The Eviction Moratorium Phaseout
By signing the 2021 Omnibus Housing Finance Bill, Governor Tim Walz voided all previous eviction moratorium rules outlined in the Executive Orders and began the next return phase to pre-pandemic eviction laws. Aptly titled “Eviction Moratorium Phaseout,” the new law relating to residential tenants provides a process of gradually removing restrictions on filing eviction actions, providing a notice to vacate, or terminating a lease.
Ejectment Actions in Minnesota During the Ban on Evictions
Prior to the COVID-19 pandemic and related peacetime emergency in Minnesota, landlords had the right to evict renters from their properties under a wide variety of circumstances. That changed in 2020 when the "moratorium" or ban on evictions was put in place to help combat the fallout from the COVID-19 virus and related financial turmoil in the Minnesota community. With eviction actions now off the table, some property owners are looking into an older and lesser-known legal action to recover possession of real property that remains unaffected by the current eviction moratorium in Minnesota.
Foreclosure Redemption Period in Light of New Bill
In response to the Covid-19 pandemic, the Minnesota legislature passed a bill, HF4556/SF 4462, in April 2020 signed by Governor Tim Walz the following day. The bill extends numerous deadlines that would otherwise apply, but for the pandemic, such as the next language found in Article I, Section 16
Timeline for rental properties: Getting back to “Normal”
When Governor Tim Walz issued Executive Order 20-14 on March 23, 2020, placing a moratorium on specific actions by owners and managers of residential rental properties, it was much clearer what conduct was allowed and prohibited during the peacetime emergency. Since that time, Minnesota Executive Orders, the Federal CARES Act, Minnesota Court Orders, and Minnesota legislation have made it more challenging to determine what options owners and managers have related to managing their properties during the COVID-19 pandemic.
Expanded Retaliation Defense: A new hurdle to evicting tenants
In recent judicial news, there has been a significant change to landlord-tenant law in Minnesota. Last month the Minnesota Supreme Court in Central Housing Associates, LP v. Olson, issued a ruling creating brand new common law for tenants to utilize in defense of eviction actions.
The pitfalls associated with Letters of Intent
Outlining the basic terms of a real estate transaction in a letter of intent can help prevent future disagreements between parties — it can also lead to them. When this type of document is incomplete, self-contradicting, or up for interpretation, problems often arise. The most significant is confusion as to whether the letter is binding or non-binding. While one party may see the document as a simple guideline designed to build momentum towards a final deal, the other party may believe the terms in a letter of intent are set in stone.