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How contingencies and disclosures work when buying a home

On Behalf of | Aug 3, 2021 | Real Estate Law |

When you look to buy a home in Minnesota, you may need to rely on certain contingencies or conditions or actions that must come to fruition before the sale processes, along the way. The home seller or real estate agent may also have to disclose certain information about a prospective property before you buy it so you may make an educated decision about how to move forward.

According to NerdWallet, both contingencies and disclosures help protect your financial and other interests during the homebuying process.


Contingencies come in several types. They essentially dictate that you are going to buy a particular home as long as certain circumstances align. For example, you may make a mortgage-contingent offer on a home, meaning you plan to buy it as long as a bank or mortgage lender approves you for a loan. You may also need to make offers contingent upon a home inspection or appraisal results, asserting that you plan to buy the home as long as the inspection does not turn up major issues, and as long as it appraises appropriately. You may also need to make offers that are contingent on you being able to sell your existing home.


Disclosure laws differ from state to state. In Minnesota, sellers have a legal obligation to tell you about any material defects that could affect the value or the buyer’s enjoyment of the property. The seller must make all disclosures in good faith using all the knowledge he or she has available at the time.

Keep in mind that while making contingent offers may help protect your interests, putting too many stipulations in front of the seller may make your offer appear less attractive.