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The one everybody knows about
I probably spend more time on my smartphone than actually driving while I am in the car. However, I am not the only one that fits into that category. If you are caught texting while driving using a wireless device, have fun with the fine of $300. I wonder if that applies to viewing webpages on your phone? If you have a GPS, you’re still in luck! If it is attached to the dash, you can still input your information without the fret of a fine.
For the real estate related changes
Carbon monoxide detectors are now required in ALL single family homes. Dubbed the silent killer because of the odorless, colorless and toxic gas can be harmful to your health and sometimes kill. There must be one installed within 10 ft of bedrooms.
Mortgage registry deed tax also was increased in Hennepin and Ramsey County by .001% to .0034%. Doesn’t sound like much, but on a $250,000 dollar home equals an extra $850. The Minnesota Association of REALTORS opposed the increase on the basis of home buyers and sellers shouldn’t have to pay for things that benefit the entire county. In this market, taxes should not increase for sellers and buyers.
A lot of updates revolved around foreclosures. Most of them focused on rights as buyers who are in default and ability to receive counseling from qualified agencies.
Here are some highlights
- Before lenders can foreclose on a 1-4 dwelling unit, the lender is required to provide a notice of opportunity for counselor to homeowners in default
- Fees amended for borrower in which lender can collect from them at closing
- Allows holder of sheriff’s certificate to maker periodic inspections to make sure the property does not fall below community standards
- Abandonment rule has been modified stating if buyer does not appear at hearing that shows evidence of abandonment. Current law is 5 weeks.
