Tag

Minnesota Purchase Agreement
Storm

Uh-Oh! What Happens When a Tornado (or Earthquake, or Flood) Damages a “For Sale” Home Before Closing??

Short Answer: Buyer’s Call [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.] RISK OF LOSS: If there is any loss or damage to the Property between the Date...
Read More

Fixture Confusion: What Stays With the Home, What Goes

Bottle Openers & Grand Pianos [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.] If fixtures were a function of size, the grand piano would stay with the home...
Read More

Why Buyers Can Walk When the Home Doesn’t Appraise (at least in Minnesota)

“In Buyer’s Sole Discretion” Seller has agreed to sell the Property to Buyer for the sum of ($____________ ), which Buyer agrees to pay in the following manner:  1)  _____ percent (%) of the sale price in CASH, or more in Buyer’s sole discretion, including earnest money . . . ” —Lines 38. – 41., standard Minnesota Purchase...
Read More

What’s the Difference Between “No Contract” & “Breach of Contract?”

Answer: a Lawsuit and Big $$$ (Potentially) [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.] “PREVIOUSLY WRITTEN PURCHASE AGREEMENT: This Purchase Agreement Is/Is Not subject to cancellation of a...
Read More

“Hey! Where’d That Nest Thermostat Go?!?”

2019-2020 Minnesota Real Estate Contract Changes [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.] Every August 1 (today!), the annual changes to Minnesota’s standard real estate forms go into...
Read More

“It’s 11:55 p.m. on Day #10** of the Inspection Period. Do the Buyer and Seller Still Have a Deal?”

Dangerous Default Language (at least for Buyers) [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.] Once upon at time (OK, till 2016), Minnesota home buyers who discovered inspection issues that required...
Read More
1 2 3

Archives