Tag

city inspection

The Too-Conscientious Minnesota Home Seller

Is There Such a Thing as TMI (“Too Much Information”) on the Seller Disclosure?  (Hint:  “No”) I don’t know about other parts of the country, but here in conscientious, neighborly Minnesota, home sellers are more likely to volunteer too much information rather than too little on the required state disclosure form. As their Realtor, I’m...
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The Many Manifestations of The Golden Rule** in a Home Sale

Lots of Third Parties, Oversight Test your knowledge of residential real estate, and answer the following question: Which of the following have the power to force a home seller to make a repair prior to closing? A. The Buyer; B. The Buyer’s home insurance carrier; C. The local municipality; D. The Buyer’s lender. Answer:  all...
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When is it Smart to Market a Clean “Point-of-Sale” Inspection?

Playing Offense vs. Defense About a dozen Twin Cities municipalities have them:  a city-required home inspection that must be completed before homeowners can transfer title to a Buyer at closing. Leaving aside the merits of such inspections, when does it make sense for Sellers — and their agents — to market that the home has passed...
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Discounting for Work(s) in Progress

Adding a (Big) Margin of Error for Hassle, Unknowns The biggest discount facing home Sellers is for home repairs they’re passing along to the Buyer (euphemistically known as “deferred maintenance”). That’s true whether the repairs are required pursuant to a local point-of-sale inspection — mandatory in 10 municipalities in the Twin Cities — or are simply things...
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Who’s Doing the City Point of Sale Inspection — and Why it Matters

Friend vs. . . Foe Not Friend In the Twin Cities, ten municipalities require home sellers to have their home inspected prior to sale (in some cases, prior to listing). Some of those cities (Bloomington, St. Louis Park) have their own city inspectors; others, like Minneapolis, outsource the job to an approved list of independent...
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Dream Kitchen? Not Exactly. But Dream PRICE

How to Decipher the Condition of a Foreclosure (at Least in St. Louis Park) Without Actually Going Inside “Sold As Is. Great rambler in the most desired SLP location, minutes to Uptown, Southdale, shopping, etc. Needs work. Highest and best due by Friday October 11th at noon. As Is Addendum required. See supps, escrow required by...
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