Standard for Buyer’s Walk-Through Inspection “Buyer has the right to a walk-through review of the property prior to closing to establish that the property is in substantially the same condition as of the date of this Purchase Agreement.” –Minnesota residential Purchase Agreement; lines 358. – 360. “I know it when I see it.” —United States...Read More
Buyer’s Walk-Thru Inspection Multiple Choice Which of the following is an acceptable reason for the Seller to leave their home in (much) less than pristine condition for the new owner: A. Their Seller left the home a mess for them when they bought (call it, “the anti-Golden Rule”). B. They ran out of time. C....Read More
A Jury of One: The Buyer “Two men were walking through the woods when a large bear walked out into the clearing no more than 50 feet in front of them. The first man dropped his backpack and dug out a pair of running shoes, then began to furiously attempt to lace them up as...Read More
“Substantially the Same Condition” & The Golden Rule ‘I know it when I see it.’ –Supreme Court Justice Potter Stewart, on the legal definition of what constitutes pornography. “Buyer has the right to a walk-through review of the property prior to closing to establish that the property is in substantially the same condition as of the...Read More
Millennials Become Acquainted With “The Golden Rule” It makes sense to me that 20-something’s are unfamiliar with such technological relics as VHS tapes, MP3 files, and analog watches (what everyone used to just call “watches” — you know, the ones with a minute hand and hour hand). But, I have to confess that I didn’t...Read More
Lots of Third Parties, Oversight Test your knowledge of residential real estate, and answer the following question: Which of the following have the power to force a home seller to make a repair prior to closing? A. The Buyer; B. The Buyer’s home insurance carrier; C. The local municipality; D. The Buyer’s lender. Answer: all...Read More
