I doubt that the continuing education deadline for CPA’s is April 15. So, why is it that the deadline for Minnesota Realtors to complete their annual continuing ed is June 30? Especially for agents at bigger brokers (Edina Realty more than qualifies), that effectively pushes up the deadline to the end of May, so that...Read More
Parsing a “5-2-1” Timeline in the Buyer’s Inspection Contingency [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. If you need legal advice, please consult an attorney.] One of the trickiest clauses in the standard Minnesota housing purchase agreement...Read More
Real estate agents putting together deals this week have an extra challenge: getting the timeline in the Inspection Contingency right. The convention is for Buyers to do their inspection within five business days of Final Acceptance (when the Purchase Agreement is officially “signed, sealed, and delivered”). But with July 4 on Saturday this year, that...Read More
April Deals Bring May (& June) Closings If you assume that mid-April is the peak of the Spring housing market (correct most years), and that the average lead time to close a home purchase is six weeks (true), that makes the peak for closings . . . right now. In fact, when the last day of the...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
Herding Cats (er, Realtors) Amongst the dozens of thankless tasks assigned to Office Administrators (“OA’s”) — the folks in charge of the day-to-day affairs at the big brokers’ real estate offices (think, Edina Realty and Coldwell Banker Burnet) — is making sure that all the Realtors timely complete and turn in their continuing education requirements....Read More
