Bloomington Rambler Gets 56(!) Offers, Sells for 25% Over Asking Price If you’ve never been in multiple offers, here’s a quick shorthand: 2-3 is stressful; 6-8 is a three-ring circus; and more than a dozen is a proverbial zoo. So, I literally don’t know what to call what just happened at 800 E. 86th Street,...Read More
“As Is” ≅ “Pass/Fail” [Editor’s Note: 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.] It seems obvious: if the Seller isn’t going to correct anything — the definition of “As Is” —...Read More
Fill in Date [Here] As if to underscore the point, commercial real estate guys like to say, “As Is . . . Where Is.” I have my own suggested tweak: “Sold ‘As Is’ . . . As Of.” As in, “As of the date that the Buyer and Seller signed the contract.” Adding “As Of”...Read More
As I discussed in a post last week titled, “Bye, Bye, Home Seller Warranties,” the key Minnesota forms change this year is dropping various Seller warranties that had previously been in the Purchase Agreement. As a side effect of this omission, there is now much less need for “As Is” Addenda — historically, one of...Read More
“As Is” . . . As of When?? True or false: Buyers purchasing a home “As Is” typically skip a final walk-through inspection. Answer: false. It may seem counter-intuitive — doesn’t “As Is” mean the Seller isn’t obliged to fix anything? — but, at least in Minnesota, it still behooves Buyers purchasing a property “As Is” to do a final...Read More
