How Much Is a Strong Realtor Really Worth? So, which offer did the Seller of this new-to-market St. Louis Park rambler choose to work with the other week? (Yes, multiple offers can and still do occur in today’s housing market, albeit only for homes in good locations, that are well-priced, and in move-in condition). Was it the highest offer?...Read More
Porous Guaranty; or, “But, Can You Take it to the Bank?” I feel the same way about “guaranteed” Pre-Approval Letters that I do about “guaranteed” pizza delivery or promises of “on-time” service calls by my cable company: a) Officially dubious; and b) Reminded of the reason companies (often) need to offer such promises in the...Read More
What Are They Really Worth? Put it this way: the picture of toilet paper should give you a hint. First, some background. In Minnesota, the first things that typically lead off any offer to purchase residential real estate are the Buyer’s earnest money check, and a pre-approval letter from a lender (unless the Buyer is...Read More
Cleaning Up After a Broken Deal If you’re seriously shopping for a home, you’ve undoubtedly seen one of these properties online. And if you’ve been selling real estate long enough, you’ve almost certainly had it happen to you: What exactly? A not-quite “done deal” . . . that came undone. Background First, a little background:...Read More
Dotting the Dots in the I’s The latest delay in a foreclosure deal where I’m representing the Buyer? The pre-approval letter from their lender lacked the lender’s signature. The bank might as well have objected to the font type and size in my client’s offer. What’s especially annoying is that the bank-owner was sitting on...Read More
Financing Games If you’ve been hunting for a home lately, you’ve likely encountered it: the tantalizing new listing that requires prospective buyers to “qualify with XYZ Lender.” Which of the following choices is the best explanation for that: A. The Seller wants to make sure that prospective Buyers can afford the home;B. XYZ Lender offers...Read More
