Closing Checklist — Seller Version As a listing agent (representing the Seller), I’m not a “Mother Hen” when it comes to most closing details. That is to say, I trust my clients to empty out their homes in a timely fashion; arrange for any needed cleaning and/or repairs (see below); give notice to utilities; line...Read More
Title Trouble Call it “Revenge of the Sub-Prime Lenders.” Once upon at time, when interest rates were (also) zero but credit standards were non-existent, lots of homeowners tapped their homes for easy cash. Fast forward a decade or so, and lots of those lenders are now gone (as in, shut down by the FDIC), and...Read More
After the Purchase Agreement is Signed, But Before Closing Loose lips may not sink (housing) ships — but they can cost a Seller money. That’s especially true if their home’s ultimate sales price was (well) below the last asking (list) price, and the deal subsequently doesn’t close. Funny how, in that rare-but-unhappy scenario, the discounted...Read More
High Likelihood of Getting Busted It’s NEVER a good idea for a home seller to lie* in their Seller’s Disclosure Statement. But, it’s especially dumb to lie about hail damage sustained just before closing, even if the Buyer manages to miss it during their final walk-thru inspection (in Minnesota, Sellers have an ongoing duty to update...Read More
It’s not exactly like the home team batting second in baseball, but there is something analogous to “home field advantage” in residential real estate. Namely, by convention, the Buyer gets to choose the location of closing (typically, at the office of the title company they’re using). That fact was . . . uhhh, driven home...Read More
Pro’s, Cons — & Pitfalls –“At the beginning (of the relationship), the developer had the experience and the insurance company had the money. At the end . . . the insurance company had the experience, and the developer had the money.” –“Possession is 9/10 of the law.” I heard the first line a couple lifetimes ago, when...Read More
