Is it Really Sold? When No One’s Home — Literally — on the Listing Side Normally, listings progress from “Active” to “Sold, Subject to Inspection” to “Pending” to “Closed.” So, what does it mean when a listing gets stalled at “Sold, Subject to Inspection” for a month (or longer)? (note: the typical inspection timetable is...Read More
EdinaRealty.com, Now New & Improved One of the biggest frustrations for prospective home Buyers is finding a house for sale online that really . . . isn’t. That’s because the home already sold or, more commonly, is under contract but hasn’t yet closed. At the other extreme, there are also homes under contract that prospective Buyers...Read More
Calculating the Risk that a Low Appraisal Will Scuttle a Deal In a market with lots of first-time Buyers (like today’s), it’s a question I’ve been fielding a lot this Spring: ‘when should I give notice to my landlord?” The (usually) safe answer: ‘once the Inspection Contingency has been removed.’ That is, after the Buyer’s...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
Going . . . Up What do you suppose happens to a one-story home, on a .20 acre lot in a prime location (just north of the Greenway, and equidistant to Lake of the Isles, Lake Calhoun, and Cedar Lake), that’s surrounded by two-story homes? In the case of this just-Pended rambler on Dean Parkway in Minneapolis,...Read More
Like every home I’ve ever shown, this 1917 stucco two-story five doors west of Lake Calhoun in Minneapolis was a mix of pro’s and con’s. First, the con’s: a dated Kitchen and two dated Baths, old windows, somewhat wavy hardwood floors, and a backyard — at least what there was of it — that backed up...Read More
