Actuarial (and Other) Calculations Apparently, roof shingles are getting better and longer-lasting. Traditionally, a standard 3-tab or 4-tab asphalt shingle had an expected life of about 20 years. Now, in addition to the 30-year “Timberline” brand, there are a bevy of new, longer-lasting shingles expected to last several decades. Along with a longer life expectancy,...Read More
Listing agents (representing home sellers) are big fans of home warranties. Personally, I love them. Test your knowledge of residential real estate today, and see if you know why: A. Realtors don’t pay the premium (Sellers typically do). B. Realtors get a commission for each home warranty policy they sell. C. Listing agents know that...Read More
Practicing an Ounce of Prevention If the answer to that question is “no one” — or at least, not regularly — it’s imperative that the owner do one of the following (at least if their home happens to be located in Minnesota and it’s winter): –Winterize the home (shut off the water and drain the...Read More
“Life is Inspections are like a box of chocolates. You never know what you’re gonna get.” –Forest Gump (paraphrased) Why waste $300 or $400 inspecting a condo that doesn’t have a foundation, roof, or other structural elements? Why not just apply roughly the same amount towards a home warranty, that will protect the Buyer in...Read More
Diminishing Returns? Is a two-year home warranty better than one year? If you weren’t aware, home warranties are fast on their way to becoming a standard feature of residential real estate transactions, at least in Minnesota. The standard Minnesota Purchase Agreement now includes “opt-out” language, making it much more likely that the parties to the transaction will...Read More
