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Generally speaking, claims need to be brought within two years of the purchase date. However, sometimes a general fraud claim can extend the statute of limitations to up to four years.

An Electronic Certificate of Real Estate Value (eCRV) documents a property sale in Minnesota. The Department of Revenue and the county of sale review eCRV information to verify sale terms and to ensure fair property tax assessments.

Legal descriptions appear in deeds, mortgages, and other documents that affect the property. Most legal descriptions include the name of the county in which the property is located. Each legal description identifies one and only one piece of property in the county in which it is used.

The best way to market your home when selling by owner in Minnesota is to get on the local MLS. Properties listed on the MLS sell faster and for up to 13% more than non-MLS properties. Additionally, you can opt for professional real estate photography, social media sharing, FSBO yard signs, etc.

Minnesota law requires 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 salespeople disclose to buyers material information that they may know about the property.

Importantly, there's also a statute of limitations to liability when it comes to disclosures. Generally speaking, claims need to be brought within two years of the purchase date. However, sometimes a general fraud claim can extend the statute of limitations to up to four years.