“Animal/Insect/Pest Infestation? Check ‘Yes’ or ‘No'” Do a cursory search online for “animal control,” “bat removal,” or similar, and you’ll find at least a dozen Twin Cities contractors advertising their services. Meanwhile, something like 35,000 Twin Cities homes sell each year. Even if bats inhabit less than 1% of Twin Cities homes, there should be...Read More
DIY Home Buyers & Sellers The vast majority of Minnesota home Buyers and Sellers elect to settle any post-closing disputes thru arbitration rather than litigation. The explanation? It’s considered faster and cheaper. The occasional exception: Buyers who are lawyers, are related to lawyers, or otherwise think they can procure the required legal services at a...Read More
Mourning the Loss of a House: not “The One,” after all Just because no one died, doesn’t mean that home Buyers who feel compelled to cancel a deal — typically in the wake of a (very) bad inspection — aren’t disappointed. In fact, depending on how excited the Buyer was about the home in question, how...Read More
“TNAS” vs. “Active, Subject to Inspection” “Seller Shall/Shall Not have the right to continue to offer the Property for sale until this Inspection Contingency is removed” (check one). –Standard Minnesota Purchase Agreement, lines 192. – 193. [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire...Read More
“Calendar Days” vs. “Business Days” [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] In general, there’s been a trend (at least in Minnesota) towards lengthening the inspection and document review...Read More
Real Estate Terminology 101 “Final acceptance” sounds like something that happens in a hospice, or perhaps what Woody Allen has been seeking in therapy all these years. Fortunately, the real estate version is not so macabre: it’s just a fancy way of saying, “Done Deal!” “Signed, Sealed, & (Constructively) Delivered” Specifically, “Final Acceptance” refers to...Read More
