Can You Say, “Organized Seller?” In Minnesota, home Sellers generally must complete a state disclosure form detailing the condition of their home, and provide it to prospective Buyers. That is, unless the Seller and Buyer agree in writing that the Seller is waiving that duty. In practice, most Minnesota Sellers do the former. And that’s...Read More
If you want the scoop on a busted deal, a good starting point is the listing agent (representing the Seller). However, if you want the real scoop . . . talk to the former Buyer’s agent. That is, assuming you can find them — and if they’ll talk. MLS Status Once there’s a signed Purchase Agreement,...Read More
The Last Refuge of a Scoundrel Desperate Listing Agent When you see a Realtor trumpeting a home’s price per square foot, you can surmise which of the following? A. The home’s a bargain; B. It lacks emotional appeal; C. It’s big; D. The agent is desperate, inexperienced — or both. Correct answer: “B.” (the others are...Read More
Telegraphing Tepid Interest From Buyers Through the grapevine, I heard about a colleague who is currently representing a Buyer in a condo deal where almost half of the Seller’s Disclosure is either incomplete or filled out incorrectly. Besides slowing down the deal, the Seller is unwittingly telegraphing another message to Buyers — one that isn’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
Disclosure Standard: “To the Best of Seller’s Knowledge” [Editor’s Note: if you’re tired of Halloween-themed posts . . . skip this. Back to non-Halloween subject matter soon, promise. The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] Do a cursory search...Read More
