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...Read More
Question #2: How Many Months Between October and March?* The answer to “how long should the listing be?” is easy: long enough to sell the house (duh!). But that just begs the underlying question: how long will that take? Practically, the listing contract needs to be long enough to properly prep the home for market...Read More
“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...Read More
Business Days vs. Holidays vs. Weekend Days Scenario #1: The Buyer and Seller finalize their Purchase Agreement tomorrow (July 3). The Inspection Addendum gives the Buyer 5 days to begin the Inspection. What’s the deadline? Scenario #2: The Buyer and Seller have executed a Contingent Purchase Agreement. The Seller gives the Buyer written notice today (July 2)...Read More
2013 Berkshire Hathaway Letter to Shareholders [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. Edina Realty is a subsidiary of multiple entities ultimately owned by Berkshire Hathaway.] Perhaps the ultimate negotiating secret — buried in Warren Buffett’s most...Read More
Step #2: Agree on Terms Step #1: Agree Which Terms to Use With updated real estate forms taking effect August 1, Realtors drafting — and receiving — offers this Fall run the risk of using dated forms. So, is that a problem? Actually . . . not usually. Unless the old form contradicts (changed) state...Read More
