Who Pays? [Editor’s Note: Seller liability for ice dams and other home issues is case-specific, and affected by local and state law. For legal advice, please contact an attorney.] What a difference a year makes! Last winter, beleaguered Twin Cities homeowners contended with record snow and cold — and (tens of?) thousands of havoc-wreaking ice dams. See,...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
“Why Couldn’t OUR Car Have Been Totalled?!?” In the wake of our minivan getting totalled in a storm two weeks ago, besides concern for our safety (we weren’t in it) followed by sympathy, the next most common reaction we’ve gotten is . . . envy. Yes, envy. As in, “too bad a tree didn’t total...Read More
“Force Majeure” Clauses [Editor’s Note: This post originally ran on May 29, 2011, after tornadoes damaged scores of North Minneapolis homes. In the wake of Friday’s even more devastating storm — with hundreds of downed trees, smashed cars, and smashed homes throughout the Twin Cities — it seemed timely to re-run.] RISK OF LOSS. If...Read More
. . . . and the Antidote My mama told me…’you better shop around’ (Shop, shop around) a-whoa-yeah You better (uh-huh) shop around! (Shop, shop around) Uh-uh-uh –lyrics, “Shop Around”; Smokey Robinson Home Buyers-turned-mortgage borrowers know that it can pay to shop around on fees (note: stellar service and industry experience should be the other criteria)....Read More
Rates, Deductibles Both Jump “April showers bring May flowers.” “2011 insurance claims bring . . . 2012 rate increases.” Ok, so it’s not as catchy, but it’s still definitely the case that record 2011 insurance claims — due to unprecedented storms and claims nationally last year — are hitting homeowners two ways this Spring. First,...Read More
