Left Holding the (Garbage) Bag: Reason #17 for Buyers to Do a Walk-Through Inspection It’s certainly possible that the weekly garbage collector will haul away all of the Seller’s junk, left curbside. But, I wouldn’t count on it. And neither should the Buyer. Instead, I’d negotiate either: a) a $500 escrow (holdback) from the sales...Read More
Housing Deal Deadlines & Other Key Terms No, I don’t recall ever handling a real estate deal where the Buyer or Seller omitted to fill in the purchase price or the closing date. But, I have handled multiple deals where the other side left blank something almost as significant. The three biggest — and most...Read More
Backup Offers As high school seniors (and their parents) are acutely aware this time of year, colleges have waiting lists. But so does residential real estate. It’s just that the real estate version is called a “backup offer.” The usual scenario: a runner-up Buyer is very interested in a property that is now under contract, and wants...Read More
“Buy on Bread, Sell on Cheese” In the wine industry (which I otherwise know nothing about), “buy on bread, sell on cheese” means that if you’re a wine buyer, you’d be well-advised to eat a piece of bread in between tastings. Because bread is neutral, it will clear your palate for the next wine. By...Read More
Aren’t Multiple Offers Good For Sellers?? Listing Agent: “How did the showing go?” Buyer’s Agent: “Great! They loved it.” Listing Agent: “Is the Buyer going to write?” Buyer’s agent: “No.” Listing agent: “Why not?” Buyer’s agent: “The Buyer doesn’t want to participate in an auction.” –Email exchange between Buyer’s agent and Listing Agent (representing Seller)...Read More
Quick Answer: “It Depends — But Usually Less Than Buyers Think” “At the closing table, the Seller will walk away with a check ” and whether the money comes from the Buyer or the lender doesn’t matter.” –“Do Home Buyers Who Pay Cash Get a Discount?”; The Wall Street Journal (11/4/2010). The answer to the...Read More
