Tag

earnest money

Pre-Approval Letters vs. Written Statements

“Bookends” at Beginning, End of Loan Process [Note to Readers: 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.] As anyone who’s recently bought or sold a home in Minnesota knows, a...
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The 2nd Most Important Date in a Home Sale

[Note to Readers: 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.] The most important date in a residential real estate deal? Easy: closing. So, what’s the second most important date? At...
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Why Buyers Can Walk When the Home Doesn’t Appraise (at least in Minnesota)

“In Buyer’s Sole Discretion” Seller has agreed to sell the Property to Buyer for the sum of ($____________ ), which Buyer agrees to pay in the following manner:  1)  _____ percent (%) of the sale price in CASH, or more in Buyer’s sole discretion, including earnest money . . . ” —Lines 38. – 41., standard Minnesota Purchase...
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“Get Me Out of the Deal!”: Statutory Cancellation for Beginners

“Subject to” . . . “Statutory” . .  . “Cancellation” . . . Huh?!? [Note to Readers: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.] Once in a while, Buyers will encounter...
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Written Statements in 300 Words . . .

 . . . . Or One [Note to Readers: 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.] Realtors representing Sellers (better known as “listing agents”) tend to be a lot more...
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No Job, No Mortgage; No Mortgage, No Closing

The Last Step Before Closing, Pre and Post-Coronavirus [Note to Readers: 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.] Once upon a time — like, this February — the last significant...
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