Nightmare Inspection Addendum: ‘Seller to Tighten Doorknobs, Dust Counters, etc.’ To the, oh, I dunno, 37 reasons why Buyers shouldn’t nitpick on the Inspection (it can cost them the deal, it jeopardizes Sellers’ good will (and assistance) post-closing, the scope of the inspection is supposed to be limited to material items, etc., etc.), add reason #38: anything on the Buyer’s list...Read More
Client Testimonials Selling residential real estate is not without its trials. The hours stink, clients can be demanding, and — at least earlier this week — listing a home in Minnesota means traipsing outside in below zero temps to take measurements. On the other hand, every so often you handle a transaction that (more than)...Read More
Four Reasons to Inspect No one has a new car professionally inspected before they buy it (though they likely take it for a test drive — or three). Why pay several hundred dollars to inspect a brand-new home? I can think of four reasons: One. To get a professional’s assessment of construction quality. A good Realtor...Read More
Appraisal Version of “Garbage In, Garbage Out” Homes under contract that don’t appraise have been a big issue in the Twin Cities housing market all Spring. See also, Jim Buchta’s “Low Home Appraisals Hold Down Area Values” in this past weekend’s Star Tribune. What is the most common reason? A. Multiple offers drove the price...Read More
The Case for Pricing Conservatively Quick: which is more, 80% of “X” or 95% of “Y?” The answer: it depends on what “X” and “Y” are. So, let me fill in some numbers, straight from today’s real estate market: make “X” equal to $325k, and “Y” equal to $289.9k. Now, it’s possible to calculate the...Read More
“Work to be Done by a Licensed Contractor” Usually, inspection issues are all about “what”: what is in disrepair; what documentation the Buyer has to substantiate any issues; and what the Buyer wants the Seller to do about it (fix it, or lower the selling price). But “who” can also be relevant — as in, “who...Read More
