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earnest money

The 2nd Most Important Date in a Home Sale

The most important date in a residential real estate deal? Easy ” closing. So, what’s the second most important date? At least in Minnesota, the date that the Buyer’s Written Statement is due. See, ““You mean, there’s no deal AND they get their earnest money back?!?”.” Significance Up until that date, all the home Seller...
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Purchase Agreement: “Buyer’s Earnest Money Due After Inspection Contingency Removed”

Is the Buyer Short of Cash?  Not Committed to Deal? [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.] Normally in Minnesota, the Buyer’s earnest money is due to the...
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The 2nd Most Important Date in a Home Sale

The most important date in a residential real estate deal? Easy ” closing. So, what’s the second most important date? At least in Minnesota, the date that the Buyer’s Written Statement is due.  See, “You Mean There’s No Deal, AND the Buyer Gets Their Earnest Money Back?!?” Significance Up until that date, all the home Seller...
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Point(s) of Maximum Vulnerability in a Home Sale

Multiple Offers, Momentum Shifts, etc. Unbeknownst to laymen, there is a predictable ebb and flow in the course of each housing transaction, whereupon each side is most (and least) vulnerable to the other. For a Buyer, the point of maximum vulnerability comes early: that would be after they have verbally come to terms to buy...
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Pre-Approval Letters vs. Written Statements

“Bookends” at Beginning, End of Loan Process [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.] As anyone who’s recently bought or sold a home in Minnesota knows, a Pre-approval...
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What’s the Difference Between “No Contract” & “Breach of Contract?”

Answer: a Lawsuit and Big $$$ (Potentially) [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.] “PREVIOUSLY WRITTEN PURCHASE AGREEMENT: This Purchase Agreement Is/Is Not subject to cancellation of a...
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