On the 2 Yard Line vs. The End Zone [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.] Test your knowledge of today’s housing market (and real estate law), and...Read More
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...Read More
“They Can’t Do That!” (Can They??) I’ve never had it happen to one of my clients. But, I’m willing to guaranty you that somewhere in the Twin Cities this Spring, there’s going to be a Buyer (or several) who thought they had a done deal . . . and suddenly doesn’t. The explanation? In between...Read More
Real Estate Legal Trivia That question is HUGE in residential real estate, for a number of reasons. The three biggest: One. The “Final Acceptance Date” — when the deal’s officially a deal — starts the clock running on the Buyer’s Inspection Contingency (Buyers typically have 3-5 business days to inspect, once the ink on the deal is...Read More
“Sold Rented, No More Showings” When is a rental property officially “spoken for,” and therefore off the market? A. When the prospective tenant signs the lease. B. When the landlord deposits their security deposit and first rent check. C. When the landlord completes the tenant’s background check, including credit history. D. When the tenant moves in. Answer: ...Read More
Counseling Excitable Sellers Especially after a flurry of initial showings, it’s easy for Sellers to get ahead of themselves, and assume that the sales process will be faster and simpler than it often is. So, I like to remind my clients to expect a marathon, not a sprint, and that it’s a “done deal” when ...Read More
