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cancel Purchase Agreement

Storm Damage & Pending Home Sales: Buyer’s Call

“Force Majeure” Clauses [Editor’s Note: This post originally ran on May 29, 2011, after tornadoes damaged scores of North Minneapolis homes. In the wake of Friday’s even more devastating storm — with hundreds of downed trees, smashed cars, and smashed homes throughout the Twin Cities — it seemed timely to re-run.] RISK OF LOSS.  If...
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Perils of Dual Agency, Exhibit A

What Did Buyer #2 Know?  (and When Did They Know It?) The vast majority of inspections go smoothly, resulting in a nominal reduction in the sales price (if that). On the relatively rare occasions when a Buyer’s inspection turns up a major issue (or several), most of the time, the deal still holds together —...
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“ASAP OD” (Overdose), or “Crying ASAP”

Real Estate Emergency?  Usually Not (Thankfully) I can think of a handful of situations that qualify as a bona fide real estate emergency: –Getting an offer to the listing agent, pre-deadline, on a home in multiple offers; –Getting in to see a newly-listed home likely to be in multiple offers; –Responding to the other party...
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