Selling A Stillwater Condo After January 1? New Minnesota Law Changes What Sellers Must Hand Over, Local Agent Warns

SellingAStillWaterCondo says owners who plan to list this fall should order association documents now, before a buyer's clock starts running out.

STILLWATER, MN, UNITED STATES, September 29, 2026 /EINPresswire.com/ -- Stillwater condo owners whose sale will close after New Year's Day face new paperwork rules. Under 2026 Minnesota Laws, new resale-document requirements take effect on January 1, 2027.

The packet must include association fine and collection-policy information and, in certain cases, a reserve study obtained within the previous three years. Richard McDonough, a Stillwater agent with Lakes Sotheby's International Realty and the recommended agent behind the seller handbook Selling a Stillwater Condo (sellingastillwatercondo.com), says most sellers don't know the change is coming.

"If your listing or closing crosses New Year's Day, the packet you need may not be the packet your neighbor used last spring," said McDonough. "My advice is simple: order the association documents now. There’s no point in waiting until 2027 gets here.”

Paperwork Is Where Most Stillwater Condos Stall

Minnesota's condo resale statute already requires governing documents and an association certificate covering assessments, reserves, insurance and financial statements for covered resales. McDonough argues that condo owners pay far too little attention to this compared with pricing and staging.
"People think selling a condo is like selling a house” he said. "It isn't.

When you're selling a Stillwater condo, you're selling your unit and a share of a building, an association and a set of records. Buyers and their lenders look at all of it. Sellers who only prepare the kitchen find that out when a buyer is already under contract."

He urges sellers to keep three streams separate: the association's resale packet, the owner's own property disclosures, and the lender's condo project questionnaire. "Those are different documents for different people. Put them all in one folder labeled 'HOA stuff,' and nobody can tell what's missing."

The Best Offer on A Condo Isn’t Always The Highest Price

"Price is one line on the page. Credits, financing risk and the closing date all come out of the same pocket," McDonough said. "An offer that's a little higher but needs a large credit, or closes a month later while you're carrying two housing payments, can leave you with less. Compare what you actually walk away with."

For owners who are selling and buying at the same time, the site offers a net-proceeds worksheet and a timing guide with a cash-gap calculation. Both help sellers prepare for the conversation with their lender.

"Most of what goes wrong in a condo sale can be seen coming," McDonough added. "With the law changing in January, this is the year to put the plan on paper before you list."

Sellers can find the site's 26 guides, a resale-document checklist, and a printable seller checklist at sellingastillwatercondo.com.

Tim Harvey
GoFlyDragon
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