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auction

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

“Highest & Best,” Defined [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.] If this Spring housing market is like any other, it’s guaranteed that at least a few home...
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The Downside of Multiple Offers for Sellers

Aren’t Multiple Offers Good For Sellers?? Listing Agent:  “How did the showing go?” Buyer’s Agent:  “Great!  They loved it.” Listing Agent:  “Is the Buyer going to write?” Buyer’s agent:  “No.” Listing agent:  “Why not?” Buyer’s agent:  “The Buyer doesn’t want to participate in an auction.” –Email exchange between Buyer’s agent and Listing Agent (representing Seller)...
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Runner-Up Buyer Protest in Multiples: “But, I Would’ve Gone Higher!!”

The Consequences of “Highest & Best” in Multiple Offers, or, “Woulda Coulda Shoulda” With tight inventory and the prospect of multiple offers returning to various Twin Cities neighborhoods, it’s a certainty that at least one local home Buyer this Spring — upon hearing they came up short in multiple offers — will protest, “But, I...
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Deceptive Advertising

“Auction Today”? Not Exactly I spent a good chunk of today’s broker tour going through a 90 unit condo project in St. Louis Park. (If you didn’t know, Realtors spend a part of each Tuesday looking at all the new properties on the market, in a ritual called “Broker Tour.”) The condo complex caught my...
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