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offer

Realtor Conventional Wisdom (With 2 Caveats): “The 1st Buyer is the Best Buyer”

Seasoned vs. Green Buyers; The Role of Pre-List Networking It’s accepted wisdom amongst veteran Realtors ” which I happen to agree with ” that “the first Buyer is (often) the best Buyer.” Why’s that? The explanation has to do with the nature of the pool of home Buyers at any given moment, plus Buyer behavior...
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Bell Curves, Home Showings, and the Odds of Getting an Offer: Why Home Sellers Shouldn’t Get Too Excited About a 1st Showing

Law of Diminishing Returns Past Three or More Showings Want to handicap the odds of any given Buyer purchasing a home, especially at higher price points that fewer Buyers can reach? Think of a Bell Curve, with the peak corresponding to 2-3 showings (call it “2.5”); the left tail represents one showing, and the right...
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Written vs. Verbal Counter-Offers

Negotiate Formally or Informally?  It Depends [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.] OK, so “Written vs. Verbal Counter-Offers” isn’t a very sexy title. But it’s a fascinating...
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Written vs. Verbal Counter-Offers

Negotiate Formally or Informally?  It Depends [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.] OK, so “Written vs. Verbal Counter-Offers” isn’t a very sexy title. But it’s a fascinating...
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Purchase Agreement: “Buyer Will Pay $5k More Than Highest Offer” for Home

Is There a Statute of Limitations on Asterisk Clauses? [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.] For the uninitiated, an “asterisk clause” Purchase Agreement — invariably for a home...
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Purchase Agreements, Deadlines, and (Other) Ultimatums

“This Offer is Only Valid Until Noon, January 16” [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.] At least in Minnesota, where I sell real estate, deadlines are incorporated...
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