Strong Lender = Strong Deal Normally, when Realtors think about financially qualifying a home Buyer, they think about what the listing agent — representing the Seller — does. Stuff like vetting the Buyer’s Pre-approval Letter (and making sure there is one!); interviewing the Buyer’s lender once an offer comes in; making sure the Buyer’s earnest...Read More
Not Necessarily “Open & Shut” One of the issues that can come up during the Buyer’s inspection is a loose thread — or several — concerning previous work done on the home. Exhibit A: an open permit pertaining to a past remodeling project or home addition. For the Buyer, the approach is easy: stipulate that...Read More
Negotiating One Deal — or Two?? Good agents instinctively know that “he who negotiates least, negotiates best.” Which is why they avoid drafting early move-in and holdover agreements — and discourage their clients from entering into them. Side Deals The vast majority of the time, the issue never arises because the Buyer takes possession from...Read More
Human vs. Wildlife Squatters Why do a walk-thru inspection of a (very) vacant Minnetonka home that the Buyer intends to tear down after closing? After all, the primary purpose(s) of a walk-thru — usually done within 48 hours of closing — is to make sure there have been no material changes in the home’s condition...Read More
Realtor — and Title Company — Trade Secrets; or, “What’s That Toaster Oven Doing Next to the Copy Machine??” Home Buyers associate fresh-baked cookies with open houses. The smell creates a nice “homey” vibe, and puts prospective Buyers in the emotional mood . . . to buy. But, I’d never encountered fresh-baked cookies at closing before....Read More
Unpaid Property Taxes: When Credits are Bad and Debits are Good Normally, credits (getting money) at closing is good, while paying money (debits) at closing is bad. When is that not the case? When the Buyer is getting a credit at closing from the Seller for the Seller’s pro rata share of the property taxes...Read More
