The Evaluation: First Step in Selling Your House
When to get an Evaluation
An evaluation is required before you show the property, and within 3 days of putting the house on the market (by listing, advertising, putting up a sign, etc).
Prepare for the Evaluation
Reveiw a list of the common required repairs before obtaining an evaluation. Many repairs are simple and inexpensive. You may wish to complete them before the evaluation, so that they don't show up as needed repair items on the report.
How to get an Evaluation
Hire a licensed evaluator. The evaluator looks at the condition of the building, both inside and outside, and then writes a Truth-in-Housing Evaluation, also called a disclosure report. The evaluator gives the seller a copy of the disclosure report. The evaluator also files the report on the City's Property Information website within 5 business days.
How long is the report valid?
The disclosure report is valid for two years, or one sale. Buyers need to complete all repair/replace items before getting a new report to resell.
Certificates and Required Repairs
The Certificate of Approval is issued when there are no repair items, or if the seller has taken care of any repair items identified in the evaluation. It is also available on the City's Property Information website.The seller is not required to complete the required repairs.
If there are outstanding required repairs, the buyer needs to sign an Acknowledgement of Responsibility and has 90 days from closing to complete the repairs. The list of repairs is also on Property Information.
Display the Evaluation
The seller must keep a copy of the Truth-in-Housing Evaluation (disclosure report) on the property so that potential buyers can view it at showings. A pre-inspection report cannot take the place of a disclosure report.
Find an Evaluator
For a Truth-in-Housing evaluation you need to hire an evaluator licensed by the City of Minneapolis.
Please Note: Evaluators are not city employees. They are private contractors licensed by the City to do Truth in Housing reports. They set their own prices. You may wish to compare prices before hiring an evaluator.
Last updated Nov 27, 2013