Solid Financing? Who Says? Assuming that one of the offers isn’t cash, for full price (or over), what can be a deciding factor for Sellers weighing multiple offers? A Buyer who has rock-solid financing — and a loan officer who vouches for same. So, an especially good strategy wooing such a Seller is to make...Read More
“After You” . . . “No, After You” . . . “No, After You” Combine tight inventory in many Twin Cities neighborhoods with frustrated Buyers, and what do you get? Multiple buyers chasing the same property, including some making offers with what Realtors call an “asterisk clause.” Background For the uninitiated, a Buyer employing an “asterisk clause”...Read More
51% Off! I’ve certainly seen price reductions of $77,900 (or more). But, I don’t recall ever seeing one for that amount (yesterday) off of a home listed for $152,900. If you’re doing the math, that’s a reduction of almost 51%(!), to a new asking price of $75,000 The home, located in South Minneapolis’ Regina neighborhood, has...Read More
Or . . . Maybe They Already Did(??)* How unusual is it for the Buyer to skip a home inspection? After a decade selling homes, I was just involved with my first deal — as a listing agent representing the Seller — where the Buyer waived the Inspection Addendum. For a home that was not in multiple offers. Extenuating...Read More
Multiple Offer Multiple Choice This (admittedly nondescript) brick cottage in St. Louis Park’s Fern Hill neighborhood came on the market June 1 at a list price of $90,000, and was switched to “Pending” 10 days later. The transaction closed August 13 (and was just posted on MLS this morning). What was the sales price? A....Read More
Strategic Use of Showing Feedback Forms It can be a conundrum for both Buyers’ agents and listing agents (representing Sellers): a new-to-market property in a hot neighborhood looks like it’s going to sell quickly, and everyone wants to know what’s going on. Without overplaying their hand. As a listing agent, it’s presumptuous to call an...Read More
