Guilty Until Proven Innocent? How do you know a would-be home seller has just suffered a rash of cancellations and no-shows? Their agent (known as the listing agent) grills the next couple Buyer’s agents trying to show the property. That can be by email, voicemail, text or even by requiring a “chaperoned showing”: that is,...Read More
Early February Snowstorm Paralyzes Twin Cities Admittedly, it only works if you: a) live close by; b) own a 4-wheel drive; and c) have a flexible schedule. But, if all those apply (they do for me), a big snowstorm is a GREAT time to call your doctor’s office and check for cancellations. I did, and shaved almost three...Read More
When the (Earnest Money) Check ISN’T in the Mail Normally, the Buyer’s earnest money check is due as soon as the Buyer and Seller have entered into a valid Purchase Agreement. However, I just handled a deal where the Buyer’s offer stipulated that the earnest money wasn’t due until after the Inspection Contingency had been...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
“Turtles All the Way Down” (Also Known as “Infinite Regress”) As a faithful agent, I’ll always do what my principal — the client — instructs me to do. But, that doesn’t mean I necessarily endorse their chosen strategy. Two cases in point: 1) so-called “asterisk clause” offers, in which a Buyer in multiple offers promises...Read More
Losing the Battle AND the War The talk of my office the last few days is a certain suburban deal that fell apart literally at the 11th hour, due to a walk-thru inspection issue. The problem? A suddenly wet basement. The Seller overplayed their hand, and grudgingly offered the Buyer only $5k to address the...Read More
