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housing market

Multiple Offers, Multiple Misconceptions (at least, in Minnesota)

“Highest & Best,” Defined [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] With scarce inventory and low rates once again spurring multiples offers in the Twin Cities now,...
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Negotiate Formally or Informally?  It Depends

Written vs. Verbal Counter-Offers [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.] OK, so “Written vs. Verbal Counter-Offers” isn’t a very sexy title. But it’s a fascinating subject....
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“Have a Nice Weekend?!?” Maybe Not THIS Weekend, If You’re a CPA

P.S.: “What’s a ‘Weekend’??” Starting Friday morning or even Thursday afternoon, I am used to seeing “Have a Nice Weekend!” appended to my incoming emails (I usually respond in kind). However, not THIS weekend, at least when I’m corresponding with the CPA who does my taxes. That’s because this weekend is “crunch time” ahead of...
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How Much of a Discount for No Central A/C?

Answer: It Depends on the Buyer ” and the House* It may be a surprise to people who associate Minnesota with year-round Arctic cold, but summers here ” while admittedly not long ” can be hot and VERY sticky. Hence the locals’ preference for central air conditioning. Which raises the question: if a home lacks...
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“Anything New Since Last Time?”

First Dentist Visit Since March How do you respond when your dental hygienist asks if “anything has changed” since your last visit? (in my case, that would be March 4, just over 4 months ago). You mean like . . .  –A global pandemic that’s already infected more than 3 million Americans, and killed almost...
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Runner-Up Home Buyer Lament: “But, I Would’ve Gone Higher!”

“Highest & Best,” Defined One of the more anguished ” and fruitless ” laments uttered by Buyers who just heard they lost in multiple offers is:  “But, I would’ve gone higher!” Then, they should have. The way “highest & best” works is . . . pretty much how you’d think. One round, highest and best...
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