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contract

Working With Home Buyers: “Contracts” vs. “Paperwork”

“Just Sign Here” [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] Which sounds less intimidating (at least if you’re not a lawyer): “let’s meet at my office at...
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“Accepted Offer” vs. “Fully Executed Purchase Agreement”

Real Estate Jargon 101 What’s the difference between an “accepted” offer and a “fully executed” one? Absolutely nothing. As a former corporate attorney, I actually prefer the latter term, because it’s just a tad more precise, descriptive, etc. However, it can also sound a bit . . . intimidating (especially the “executed” part). Which is...
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Working With Buyers: Contracts vs. “Paperwork”

“Just Sign Here” Which sounds less intimidating (at least if you’re not a lawyer): “let’s meet at my office at 6:30 p.m. to go over the paperwork.” Or, “let’ s meet at 6:30 p.m tonight to review and sign the contracts.” At least to my ear, Option #1 ” which is what I tell prospective...
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The Three Most Dangerous Blank Lines in Residential Real Estate

Housing Deal Deadlines & Other Key Terms No, I don’t recall ever handling a real estate deal where the Buyer or Seller omitted to fill in the purchase price or the closing date. But, I have handled multiple deals where the other side left blank something almost as significant. The three biggest ” and most...
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“Accepted Offer” vs. “Fully Executed Purchase Agreement”

Real Estate Jargon 101 What’s the difference between an “accepted” offer and a “fully executed” one? Absolutely nothing. As a former corporate attorney, I actually prefer the latter term, because it’s just a tad more precise, descriptive, etc. However, it can also sound a bit . . . intimidating (especially the “executed” part). Which is why...
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“Final Acceptance” ” Real Estate Edition

Real Estate Terminology 101 “Final acceptance” sounds like something that happens in a hospice, or perhaps what Woody Allen has been seeking in therapy all these years. Fortunately, the real estate version is not so macabre:  it’s just a fancy way of saying, “Done Deal!” “Signed, Sealed, & (Constructively) Delivered” Specifically, “Final Acceptance” refers to...
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