Bracing for “Super Bowl Stupor” in the Twin Cities Especially if the Minnesota Vikings are in the Super Bowl — held in Minneapolis February 4 — it’s practically guaranteed that little else will happen here the week or so before (and if they should win, the week after! 🙂 ). Which begs the question: should...Read More
Good Faith Gesture: “Sold, Subject to Inspection” As veteran Realtors (if not their clients) know all too well, it ain’t officially a deal until all parties have signed, and the Purchase Agreement and any Addenda have been delivered to the other party (actually, their agent). Lots of Buyers learn that painful truth each year when,...Read More
On the 2 Yard Line vs. The End Zone [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.] Test your knowledge of today’s housing market (and real estate law), and...Read More
When “Sold” Doesn’t Mean “Sold” At least in Minnesota, when you see a “Sold” rider above a “For Sale” sign in front of a house, it doesn’t mean “Sold” — it means “Pending.” Huh? The (admittedly confusing) convention is to pronounce a home that’s under contract and past Inspection — but not yet closed — as “Sold,” even though...Read More
“Deal Mop-Up” If you’re a Buyer’s agent nervous about slow-to-arrive Seller signatures,** what’s a good interim step to reassure your anxious clients? Ask the listing agent to change the home’s status on MLS. “Pending” = Done Deal So, if the home is “Active,” changing it to “TNAS” (“Temporarily Not Available for Showing”) assures that no...Read More
When Doesn’t “Sold” Mean “Sold?” So, when it comes to residential real estate, when does “Sold” not mean “Sold?” When it means “Pending” (as in, when there’s a big, bold “Sold” sign in front of a “For Sale” home). Huh?!? At least in Minnesota, once the Buyer’s Inspection has been removed,** the convention is to...Read More
