But, $320k – $25k ≠$295k I can’t prove it, but at least when it comes to residential real estate deals, an offer for $300k less $5k in seller-paid points can seem more attractive to Sellers (if not their agents) than a $295k offer with no points subtracted. The explanation has to do with Seller psychology....Read More
But, the Seller (Understandably) May Not Go For It Show me a listing agent (representing the Seller) who’s supremely confident that their client’s home will appraise . . . and I’ll show you a home that sold for too little. Huh?? I only know of two ways to absolutely, positively eliminate the risk of a...Read More
Smoking Guns & Yellow Flags I think it’s fair to say that — as a rule — compared to “laymen,” Realtors put much less stock in things like Seller motivation; historical information like what the owner paid (unless it raises the prospect of a short sale); and even representations (or lack thereof) in the Seller’s Disclosure....Read More
What Are They Really Worth? Put it this way: the picture of toilet paper should give you a hint. First, some background. In Minnesota, the first things that typically lead off any offer to purchase residential real estate are the Buyer’s earnest money check, and a pre-approval letter from a lender (unless the Buyer is...Read More
