Swapping Underwater Mortgages on Craig’s List One of the most popular posts ever on this blog, “Groupon for Underwater Homeowners,” made the case that underwater homeowners could exert heretofore missing leverage over their lenders by teaming up and negotiating as a group (“groupon”). Seeing as no one (so far) has bit on that idea, I’m now offering up solution...Read More
If a company is out of business, does that mean that all the products it ever made and sold — and may still be in use — were defective? Hardly. At this very moment, I can think of any number of local basements storing black-and-white TV’s made by RCA, Zenith and other defunct brands that...Read More
“Contingent” vs. “Continent” As I just discovered, both “contingent offer” and “continent offer” pass spellcheck. All the same, I wouldn’t want to receive — or make — the latter kind.Read More
“Lake Wobegon, where all the women are strong, all the men are good-looking, and all the children are above average.” –Garrison Keillor When Buyers make a Contingent Offer, what’s the contingency? Selling their current home — what Realtors call “the backup house.” For the record, I’ve never heard a Buyer’s agent characterize the backup home...Read More
The Buyer’s Inspection on a Cancelled Deal One of the knottiest issues in real estate for awhile now is, “what does the listing agent do with the Buyer’s inspection on a deal that ultimately falls apart?” The question is problematic because — at least in Minnesota — home sellers and their agents have an independent duty to disclose any defects...Read More
Spying on the Buyer, or “Electronic Chaperones?” Every breath you take Every move you make Every vase you break* Every step you take I’ll be watching you –Sting; lyrics, “Every Breath You Take” Frankly, I’m surprised that it took until late 2011 to hear about it: a (creeped-out) colleague reporting that the home she just showed...Read More
