All Forum Posts by: Cody Stegeman

@timswierczek, @johnwoodrich, I did not waive my disclosure. @danvleck I believe you are wrong, RE agents by law are required to disclose material fact about the property. @natemonson I would go through conciliatory court, so no lawyer fees.

According to Minnesota law, it's required that all sellers of residential property disclose to prospective buyers all “material facts” that could affect a buyer's use and enjoyment of the property. Minnesota law also requires that real estate sales people disclose to buyers material information that they may know about the property. The fact that the transaction occurred and these known facts weren't disclosed it goes against what the law specifically states. 

Hello all! I'm in a frustrating situation I haven't experienced before and am looking for some insight on how to approach the whole thing. I recently bought a triplex, after we had closed and the property manager who was working for the previous owner informed me that the hot water heater in one of the units stopped working a few days ago. I'm in MN, I know that's against disclosure laws with RE transactions, but the previous owner is being obstinate. I found out from the tenant they had been without hot water for 15 days ( occurred right after my inspection), so I replaced the unit to alleviate the problem. I sent a copy of the bid from my plumber to the previous owner showing what he owed me , and he is saying he will only settle for 400/1100 since "I get a new hot water heater". What should my next step be?

Thanks for the reply!!

@Joe Kim that means you average netting 245$ a night?

I'm looking into systems to better organize a bank of rental applications, property specific cost outlays, and efficient ways to track rent income history. Any input is greatly appreciated!

@Richard Sherman a lot of annual fee cards have better benefits.