What Could Go Wrong? Worry #10: “The Bar Mitzvah Blizzard” “Relax, enjoy everything,” my relatives counseled leading up to my son’s (just-concluded) bar mitzvah weekend. “What could possibly go wrong?” I actually had no fewer than 74 discrete worries, but these were my “Top Ten”: 10. Epic blizzard will shut down local airport; Gramie, Zadie, Grandpa...Read More
Weighing Defensive Clauses, Offensive Clauses — & No Clauses [Editor’s Note: Nothing in this post or on this blog should be construed as offering legal counsel. If you require legal advice, please consult an attorney.] “Home must appraise at or above sale price. If appraisal is below that amount, Buyer shall have the right to renegotiate this...Read More
Define, “Extreme Cold” There’s a simple reason you seldom see Realtor open houses in Minnesota in January cancelled due to cold: there’s no guaranty it will be warmer a week later. Case in point: exactly one week ago, when my client and I were wavering due to local temps in the single digits. We went...Read More
Inspection Contingency Catch-22 Like any contract, the Inspection Contingency — which governs the Buyer’s inspection timetable — can be amended if both parties agree. The most common amendment: a time extension to allow both sides to get more info about an inspection-related issue. The catch, though — especially if turnaround time is an issue with...Read More
The Role of the BPO (“Broker Price Opinion”) When someone owes $250k on a home currently worth $200k, arguably they no longer own the home . . . their bank does (or, at the very least, the bank calls the shots). So, it would seem smart to find out what the bank is willing to sell...Read More
“On Market January 27 February 3!” When the turnout at a home on Broker Tour (the weekly open house circuit for Realtors each Tuesday) is disappointing . . . it’s appropriate to schedule a “do-over.” See, “Broker Tour ‘Encores.'” However, in my experience the “makeup” open house seldom attracts a big crowd, either, even if...Read More
