Law of Diminishing Returns Past Three or More Showings Want to handicap the odds of any given Buyer purchasing a home? Think of a Bell Curve, with the peak corresponding to 2-3 showings (call it “2.5”); the left tail 1 showing, and the right tail four or more showings. In other words . . . the...Read More
The Easy Way . . . and the Hard Way The Buyer’s inspection revealed a material defect in the home that the Seller doesn’t dispute. Both parties want to stay in the deal. What are their options? Option #1: the Seller fixes the problem, prior to closing. Here are the related steps: Buyer and Seller...Read More
Nosy Neighbors, Take #14 Long before the Buyer’s home inspector lays eyes on it, or the Buyer’s title company checks for closed permits, wanna guess who (else) knows whether the Seller’s recent Kitchen Remodel is high-end? (or not, as the case may be). The neighbors. In the course of the months-long project, it’s a good...Read More
Disclosure Standard: “To the Best of Seller’s Knowledge” [Editor’s Note: if you’re tired of Halloween-themed posts . . . skip this. Back to non-Halloween subject matter soon, promise. The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] Do a cursory search...Read More
“Relationship Shorthand” What’s the opposite of “guilt by association?” “Honor by association.” How does that play out in residential real estate? When, as a listing agent (representing the Seller), the Buyer’s agent, lender, inspector, and title company all check out with flying colors . . . it’s highly likely that the Buyer ultimately will, too. Of...Read More
What Radon and Polygraph Tests Have in Common If your furnace goes out in January in Minnesota . . . it’s a pretty high priority repair. Ditto for a central a/c compressor that decides to konk out in July. Fortunately, there’s a perfectly good, temporary solution for basements that are discovered — sometimes in the...Read More
