Striking While the Iron Housing Market is Hot “Seller would like to close in early-mid September.” –MLS Agent Remarks, 9228 Decatur Ave. in Bloomington. The normal lag time from consummated Purchase Agreement to closing is six to eight weeks — faster if the home is vacant, the Buyer is paying cash, or both parties are...Read More
Buyer’s Walk-Thru Inspection Multiple Choice Which of the following is an acceptable reason for the Seller to leave their home in (much) less than pristine condition for the new owner: A. Their Seller left the home a mess for them when they bought (call it, “the anti-Golden Rule”). B. They ran out of time. C....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
Making a Catch — or a Closing “Save” — Look Easy “Paul Blair never made a great catch because he never had to; he was always standing under the ball when it came down.” –Earl Weaver, Baltimore Orioles manager; “Paul Blair, Center for Champions, Dies at 69.” The New York Times (12/27/2013). How are great...Read More
Fill in Date [Here] As if to underscore the point, commercial real estate guys like to say, “As Is . . . Where Is.” I have my own suggested tweak: “Sold ‘As Is’ . . . As Of.” As in, “As of the date that the Buyer and Seller signed the contract.” Adding “As Of”...Read More
Early Move-in Risks Fall Disproportionately on Seller The standard definition of chutzpah is killing your parents, then throwing yourself on the mercy of the court because you’re an orphan. So, what’s the real estate version (or, at least one example)? A Buyer who delays the closing not once but three times, then threatens to walk...Read More
