Price as a Function of Market Time Assuming a “For Sale” home is well-prepped, priced and marketed, is there a way to know how much it sold for prior to closing, when the number will become public? That is, without finding out from the Buyer, the Seller, or their agents (who shouldn’t be sharing that...Read More
“Force Majeure” Clauses [Editor’s Note: This post originally ran on May 29, 2011, after tornadoes damaged scores of North Minneapolis homes. In the wake of Friday’s even more devastating storm — with hundreds of downed trees, smashed cars, and smashed homes throughout the Twin Cities — it seemed timely to re-run.] RISK OF LOSS. If...Read More
After the Purchase Agreement is Signed, But Before Closing Loose lips may not sink (housing) ships — but they can cost a Seller money. That’s especially true if their home’s ultimate sales price was (well) below the last asking (list) price, and the deal subsequently doesn’t close. Funny how, in that rare-but-unhappy scenario, the discounted...Read More
It’s Not A Comp Till it Closes What do you do as a listing agent if the home you just sold (subject to the Buyer obtaining financing) presents an appraisal challenge? That has been a frequent occurrence in the Twin Cities this year as prices rebound, but the most recent sales — and the ones which appraisers...Read More
“Sold, Subject to Inspection” I don’t do it that often, but today I showed clients a home that already sold. With their knowledge and consent. Why waste time showing a home that’s already spoken for? Because this particular home — in East Edina and listed at $300k — sold in multiple offers after all of...Read More
March February Madness 24. 31. 17. 28. Football snap count? Try, attendance at open houses hosted by myself and colleagues the last few weekends. By way of comparison, a dozen people at an open house is considered to be a good turnout, and I’ve certainly had my share where I felt like the Maytag repairman. Does...Read More
