Q: Do the Pages in a Real Estate Contract Have to Be Numbered? I know that some fellow agents — and perhaps an Office Manager or two — may strenuously object. However, it’s my blog, and I am a former corporate attorney. So, here’s the answer: ‘no, they don’t.’ Rationale I’ll go even further: not...Read More
Real estate agents putting together deals this week have an extra challenge: getting the timeline in the Inspection Contingency right. The convention is for Buyers to do their inspection within five business days of Final Acceptance (when the Purchase Agreement is officially “signed, sealed, and delivered”). But with July 4 on Saturday this year, that...Read More
When the (Earnest Money) Check ISN’T in the Mail Normally, the Buyer’s earnest money check is due as soon as the Buyer and Seller have entered into a valid Purchase Agreement. However, I just handled a deal where the Buyer’s offer stipulated that the earnest money wasn’t due until after the Inspection Contingency had been...Read More
Clean vs. Cluttery Offers With multiple offers breaking out all over the Twin Cities housing market now, it’s a smart idea for prospective Buyers competing for a home to know what, besides price, is likely to set their offer apart . . . for both good and bad. Good: a short, clean offer with a...Read More
< + Δ [Editor’s Note: Nothing in this post or on this blog should be construed as offering legal counsel. If you require legal advice, please consult an attorney.] If you want to skip my post, “Counteroffer vs. Amendment vs. Addendum” and cut to the chase, here it is, in three easy symbols:...Read More
What Not (NOT!) to Put in an Inspection Addendum It’s never smart for home buyers to overreach on Inspection issues, but a strong (and strengthening) Seller’s market is an especially bad time to do so. Why? Because any daylight between what the Buyer requests and what the Seller is willing to do gives the Seller an “out”...Read More
