Financial Due Diligence for Home Sellers (and Their Agents) As a former corporate attorney and CPA, one of my strengths selling real estate is helping Sellers “vet” the Buyer’s finances. Before they get to closing. In a nutshell, it comes down to this: “Can the prospective Buyer financially perform?” (legalese for “can they afford the property in...Read More
. . . . Or One Realtors representing Sellers (better known as “listing agents”) tend to be a lot more focused on Written Statements ” and specifically, Written Statement deadlines ” than their clients. There are two reasons for that: 1) it can be a technical subject (see below); and 2) most Buyers’ lenders meet...Read More
“Subject to” . . . “Statutory” . . . “Cancellation” . . . Huh?!? [Editor’s Note: In addition to “statutory cancellation,” there is another legal status called “subject to statutory Rescission.” At least in Minnesota, purchasers of condo’s and townhomes have a 10 day right to rescind while they review the related Association disclosures. While that...Read More
“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...Read More
Dubious Symbolism Every so often, I actually need to mail something to another agent. Most common example: an earnest money check, when a Buyer client prefers not to electronically transfer funds, either due to logistics or security concerns. Which means I need a postage stamp, which means I need to choose a postage stamp. What, No German...Read More
“Subject to” . . “Statutory” . . . “Cancellation” . . . Huh?!? [Editor’s Note: In addition to “statutory cancellation,” there is another legal status called “subject to statutory Rescission.” At least in Minnesota, purchasers of condo’s and townhomes have a 10 day right to rescind while they review the related Association disclosures. While that...Read More
