Your client is interested in a Downtown Minneapolis loft (or condo); as their Realtor, what do you do first? A. Show them the unit, to see if they like it; B. Review the Association doc’s, to look for pet restrictions, prospective capital improvements, etc.; C. Check out the MLS price history, to see how long...Read More
Complying With The Golden Rule (Still) Admittedly, it’s not a perfect analogy: I’m hardly suggesting that all Realtors are wizards, and that lenders are all witches (sometimes, it’s the other way around). But, at least from the perspective of a Buyer’s agent, clients (especially first-time Buyers) can seem a little bit like Dorothy, and the process...Read More
Pre-Negotiating a Short Sale on MLS “Short sale professionally negotiated. Earnest money to be deposited and inspection contingency to be removed BEFORE the offer will be submitted to the lender for approval.” –“Agent Remarks”; MLS What’s the listing agent telling Buyers’ agents with the above language? (note: unlike “Public Remarks,” “Agent Remarks” are only intended...Read More
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
It Depends Who You Ask — & How You Define “Conservative” If you asked a home seller, their agent, or the Buyer’s lender, the answer you’d get would be an unequivocal “20%.” Not only does such a Buyer have more “skin in the game” (which the lender likes), they have more equity to withstand a...Read More
“The reason dolphins have a reputation for saving drowning swimmers is because you never hear from the ones they push out to sea.” As a Realtor, you seldom hear about the transactions where the home appraised at (or above) the sales price, and the deal went on to close smoothly. On the contrary, you hear...Read More
