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On May 1st, 2009 the city of Robbinsdale Minnesota enacted a point-of sale program. Weather your a resident of Robbinsdale Minnesota, or a Realtor there’s bound to be questions.
The process:
First you must contact the city and inform them that you will be putting your home up for sale (in some cases the listing agent for a bank will do this as opposed to a homeowner). You should start by calling the community development office at 763-531-1269
The seller ( if it’s a foreclosure this means the bank) hires (and yes pays out-of pocket) an independent certified evaluator to walk through and inspect the home BEFORE it’s placed on the market. The inspector will generate a detailed report of the properties condition and provide a repair/replace list.
The repair replace list.:
This is a “honey-do” list of all the items the city requires to be repaired BEFORE you occupy the residence. These are items that pose an immediate safety risk - the city does not care that the carpet is the original harvest gold from1972 , but they are concerned if there’s no copper left on the pipes. if you cannot afford/don’t have time to finish all of the required repairs, the city has a waiver that you can sign acknowledging responsibility for completion of the tasks.
The Waiver:
This allows you to fix the repair/ replace items within a certain time frame AFTER occupying the property. I was recently informed about this and was told that it’s still being drafted by the city ... It should have been done once they decided to enact this ordinance…..
What homes are affected?
All single-family, town-homes, twin-homes and condos being listed for sale as of May 1st, 2009. In addition, if your house was LISTED on the market say in April but it has been SHOWN AFTER MAY 1st you must perform a point-of-sale inspection before it’s sold. Existing listings do not get “grandfathered in” if they have been shown after May 1st.
For Buyers:
The city wants there homes to be safe This is a huge benefit to those of us who are interested in foreclosures and short-sales. It can instantly give a buyer insight into the condition of the property. In those instances where homes are sold “as is” this can be a helpful feature. Often times on the MLS we see phrases like: “buyer to assume any city repair.” It means that a point-of-sale inspection done and has repair/replace items that need to be addressed. ** one tip: If you decide to have a private home inspection in addition to the POS, don’t show your inspector the POS report before he/she views the property. You want them be objective when inspecting your home (not just confirm issues that have already been noted). The cities POS is based on VISUAL inspection only. .
For Sellers:
You can be present at the Robbinsdale Minnesota Point of sale inspection. The inspector will walk through the home with you and discuss the repair/replace items. They will inform you as the seller that they must be corrected and re-inspected by the city before the home goes on the market. If you are dealing with “AS IS’ property or have concerns about how much you can afford to fix call the city inspection line at: 763-537-4534
Tags: agents, buyers, Home Inspection, point of sale, policy, Robinsdale, sellers
MN Short Sale Realtor:
The point of sale inspection requirements need to be complied with when selling a property via short sale as well. Typically in a short sale situation I would recommend that the seller have the buyer assume all required repairs. Of course their are foreclosure situations where upside down sellers can still make a profit on their properties if they sell them. In those cases I recommend that the seller's make all required repairs in order to enhance the saleability of their property.
The point of sale inspection requirements need to be complied with when selling a property via short sale as well. Typically in a short sale situation I would recommend that the seller have the buyer assume all required repairs. Of course their are foreclosure situations where upside down sellers can still make a profit on their properties if they sell them. In those cases I recommend that the seller’s make all required repairs in order to enhance the saleability of their property.