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
“Three Bedrooms NOT on One Level” Every once in awhile, you see a single family home being touted by the listing agent as a “townhome alternative.” What do they mean? Features At least to this Twin Cities Realtor, it’s shorthand for a detached home with many of the following attributes: –Around 2,000 to 2,500 square...Read More
The Doubled-Edged Sword Called “Potential” Although you wouldn’t necessarily believe it looking at all the MLS listings with the word “potential” in them, Realtors use the term carefully, if not reluctantly (or at least I do). That’s for two reasons: One. Beauty is in the eye of the beholder — at least to a point...Read More
“Showing 1.5” What’s a “1.5 showing?” When one partner in a couple has seen the house and likes it, and gives their partner a green light to take a look. Rules & Exceptions As a general rule, Realtors acting as a Buyer’s agent prefer that both (all**) decision-makers be present at all showings. That’s not only...Read More
Too Many Showings? Far be it from me to tell anyone who to vote for. But, let me suggest borrowing a criterion from the world of residential real estate to pick the next President (or major party nominee). Letting Buyers Off the Hook When I work with Buyers who remain lukewarm about a home even...Read More
“Nobody Ever Washed a Rental Car” — Home Inspection Edition Normally, the condition of such things as TV satellite dishes, security systems, and water softeners is very important to home Buyers doing their inspection. After all, if they don’t work, post-closing, it’s the Buyer-now-Owner who’s on the hook.* So, what is the one exception to that? When...Read More
