Happy New Year! 2014 brings in a new year and with that one big new law in Minnesota residential real estate: The MN Radon Awareness Act is now on the books.
What does this mean for MN buyers and sellers?
Before signing a purchase agreement to sell or transfer residential real property, the seller shall disclose in writing to the buyer any knowledge the seller has of radon concentrations in the dwelling. The disclosure is to include:
1. Whether a radon test or tests have occurred on the property.
2. The most current records and reports pertaining to radon concentrations within the dwelling
3. A description of any radon concentrations, mitigation or remediation
4. Information regarding the radon mitigation system, including system description and documentation, if such a system has been installed in the dwelling, and:
A. A radon warning statement - which is now made part of the revised
DISCLOSURE STATEMENT: SELLER'S PROPERTY DISCLOSURE STATEMENT (Page six
(6), Section M) of which a copy has been attached for your reference.
B. A copy of the Minnesota Department of Health publication entitled
"Radon in Real Estate Transactions." - a copy of which is also attached
Most buyers agents will want to see the results of a radon test before moving forward, so if you are planning to sell your property in MN, I would stop at your local hardware store and pick up two radon tests, place them in your lowest level of your property, follow the directions and compare the results. Depending on what your reading levels are you may or may not have to mitigate the radon. It is more financially advantageous to the seller to take care of any issues prior to listing and selling a property, and now that radon is part of the MN real estate, you might as well know what level is in your property.
Please contact me with any questions:
cell: 218-310-3350 (texting too)
Liz Lewis Sandwick grew up in Duluth, is married to her husband Robb, has three kids: Caroline (5) Cooper (3), and Max (1) and would love to help you find your next home!