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investment property

Getting the “Homestead” Disclosure Wrong

Closing Headaches — Exhibit A [Note to Readers: 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.] It’s not the biggest mistake Sellers can make — the maximum exposure is typically “only”...
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Cash Buyers, Sight Unseen

When the Inspection is Really the First Showing If it hadn’t just happened to my own client, I would have thought it was something straight out of Florida or Southern California, circa 2005 — not Minnesota in 2013. Namely, without so much as viewing my client’s home, an apparently “big bucks,” out-of-state corporate Buyer showed...
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Getting the “Homestead” Disclosure Wrong

Closing Headaches — Exhibit A It’s not the biggest mistake Sellers can make — the maximum exposure is typically “only” a couple hundred dollars — but it’s still a headache that can delay if not jeopardize closing. The mistake? Representing that a non-homesteaded home is in fact “homesteaded.” Background What’s the distinction — and why does it...
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Housing Market Disconnect

Cheaper More Expensive By the Dozen Usually, the more of something you have to sell, the cheaper it is. That’s just basic, “supply-and-demand” — Economics 101. So, when is that not the case? When it comes to rental properties in today’s housing market. Buyer’s vs. Seller’s Markets Currently, there is a huge disconnect between what duplexes and...
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They’re Not Lowballers, They’re “Investors”

Deciphering “Realtor-Speak” I’m sure I’m not the only listing agent out there who’s recently fielded some variation of the following query:  “I’ve got an investor who might be interested in your client’s property.  Would they be open to something like that?” For those who don’t know Realtor-speak, let me translate:  ‘my client would be interested in buying...
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Investment Opportunity!

Wanted: Investor Looking For a Steal What: Investment PropertyHow much (asking): $293,000 below current tax assessed value (56% below tax value)Where: Twin CitiesWhen: Deadline for offers is 2 p.m. Monday Who says that there aren’t multiple offers any more? A bank-owned 4-Plex hit the market this morning for a whopping $293,000 below its current tax...
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