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Updated over 6 years ago on . Most recent reply

Ken Thom's profile image
Ken Thom's profile image
Ken Thom
  • from Elizabeth, Colorado
  • Member since Mar 19, 2018
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Ken Thom's profile image
Ken Thom's profile image
Ken Thom
  • from Elizabeth, Colorado
  • Member since Mar 19, 2018
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Ken Thom
  • Elizabeth, CO
1
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6
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Buying & Selling Real Estate

Buyer's disclosure of intent of property use required ?

Ken Thom
  • Elizabeth, CO
Posted

Greetings, 

CO newbie jumping into SFR investing while working a FT job. Do I have to inform the seller that I intend to use the property as a rental property when submitting a purchase offer for it? Thanks in advance for any insight!

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Nathan Platter's profile image
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Nathan Platter
  • Real Estate Agent
  • from Minneapolis, MN
  • Member since Aug 9, 2016
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Nathan Platter's profile image
Nathan Platter's profile image
Nathan Platter
  • Real Estate Agent
  • from Minneapolis, MN
  • Member since Aug 9, 2016
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Nathan Platter
  • Real Estate Agent
  • Minneapolis, MN
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Nathan Platter
  • Real Estate Agent
  • Minneapolis, MN
Replied

Hey @Ken Thom ,

In Minnesota, you are not obligated to disclose your intention for the property after acquiring ownership. The lender will need to know that yes, but the seller shouldn't need to know what you'll do with the house since it'd be your house.

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