2025 Session Last amended: 2004 session

§ 82.74 — Guaranteed Sale Programs

Plain-Language Summary

This section regulates guaranteed sale programs offered by real estate brokers in Minnesota. If a broker offers to buy a property that does not sell, the broker must provide full written disclosure of all terms and conditions of the guarantee before the seller signs the listing agreement.

82.74 GUARANTEED SALE PROGRAMS.

If a broker advertises or offers a guaranteed sale program, or other program whereby the broker undertakes to purchase real property in the event he or she is unable to effectuate a sale to a third party within a specified period of time, a written disclosure that sets forth clearly and completely the general terms and conditions under which the broker agrees to purchase the property and the disposition of any profit at the time of resale by the broker must be provided to the seller prior to the execution of a listing agreement.

History:

2004 c 203 art 2 s 54,61

History: History: 2004 c 203 art 2 s 54,61

Practical Notes

If a broker offers a ‘guaranteed sale’ program, get all the details in writing before you sign. The guarantee price is often well below market value, and the terms may include significant conditions that limit the guarantee’s value.

Source: Minnesota Office of the Revisor of Statutes