Closing Headaches — Exhibit A [Note to Readers: 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.] It’s not the biggest mistake Sellers can make — the maximum exposure is typically “only”...Read More
[Note to Readers: 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.] Heads up, 2020 Minnesota home buyers! Anyone who purchased an owner-occupied property in Minnesota in 2020 ” and occupied the...Read More
[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.] Heads up, 2019 Minnesota home buyers! Anyone who purchased an owner-occupied property in Minnesota in 2019 — and occupied the property...Read More
I’m sure I’m not the only Buyer’s agent who fielded a call this Fall from a (mildly) annoyed client, wanting to know why Hennepin County sent them an invoice for 2nd half property taxes. Especially when they were sure their agent (OK, me) showed them on their closing worksheet (now called the “ALTA”) exactly where...Read More
Why the Homestead Exemption Matters “If the Property Tax status is part- or non-homestead classification in the year of closing, Seller __ Shall __ Shall Not pay the difference between the homestead and non-homestead.” –lines 78. – 79.; 2015 MAAR-approved Purchase Agreement At least for more expensive Minnesota homes, the rule on non-homestead taxes is blissfully simple:...Read More
