Or . . . Maybe They Already Did(??)* How unusual is it for the Buyer to skip a home inspection? After a decade selling homes, I was just involved with my first deal — as a listing agent representing the Seller — where the Buyer waived the Inspection Addendum. For a home that was not in multiple offers. Extenuating...Read More
Realtor “Lifelines” and Shortcuts When most people think of home inspections, they think of the Buyer’s home inspection. But at least in the Twin Cities, 14 municipalities have their own, Seller-required inspection. Navigating that labyrinth — at least for Edina Realty agents — is ordinarily a two-step process: 1) log on to Edina Realty’s “ProKit” software,...Read More
From “3-1-1” to “5-2-1” The primary reason Buyers have a finite amount of time to do their home inspection is because Sellers want to know where they stand. So, if the Buyer and Seller can’t agree on resolving any issues that come up, the Seller wants to be able to go back on the market, with...Read More
Test: ‘Reasonableness’ To recover from their Seller for a home defect, Buyers must satisfy a two-part test. Namely, they must prove that: 1) the defect existed at the time the Seller sold them the home; and 2) the Seller either knew of the defect, or should have known. Which begs the question, “what should sellers...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
Advice to Home Buyers The first thing I tell my Buyer clients when the subject of post-sale legal recourse comes up is, “if you have a bad vibe about this home or this Seller . . . move on.” Period. With that out of the way, I generally provide this counsel when the subject of...Read More
