The Waiting (In Between the Buyer’s Inspection and Their Follow-up) “If Buyer does not cancel this Purchase Agreement before the end of the Inspection Period, then this Inspection Contingency shall be removed and this Purchase Agreement shall be in full force and effect.” –Minnesota Purchase Agreement, lines 189. – 191. Anxious Sellers fretting about what...Read More
Buyer’s Agent Practice Tips “Seller shall provide documentation from licensed HVAC contractor (not gas company) that forced air furnace and central a/c are in working order.” –Amendment to Purchase Agreement At least in my capacity as a Buyer’s agent, whenever my client’s inspection raises concerns about the home’s HVAC system, I’m careful to explicitly require...Read More
In-Bounds or Out-of-Bounds? The Buyer finished their professional home inspection, and just delivered a long list of issues to resolve with the Seller including this one: “New future back and side doors: (large amount).” Such a demand is clearly outside the scope of the inspection, and not properly raised with the Seller. Why? A. The item is prospective, not a here-and-now...Read More
The Easy Way . . . and the Hard Way The Buyer’s inspection revealed a material defect in the home that the Seller doesn’t dispute. Both parties want to stay in the deal. What are their options? Option #1: the Seller fixes the problem, prior to closing. Here are the related steps: Buyer and Seller...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
Sometimes, a Rose Rider is Just a Rose Rider In addition to following multiple Twin Cities neighborhoods for various clients, I also watch home sales near where I live (natch). So about 10 days ago, when the “Sold” rider** disappeared from the vacant “For Sale” home down the street, I assumed that the deal hiccupped...Read More
