New Inspection Contingency Timetable for Minnesota Home Buyers, Sellers [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.] The answer to the question, “when does 5+2+1 = 10?,” is, “when...Read More
Not to Be Confused With “Dumpster Diving” “Dumpster diving” is when bargain hunters look for something salvageable (or edible — blechh!) in a dumpster. So, what’s “dumpster chasing?” When bargain hunters target the owner of the home behind the dumpster. Specifically, “dumpster chasers” solicit homeowners to find out if all that emptying out/updating is in anticipation of going...Read More
“Buyer Hereby Removes Its Inspection Contingency” Whether or not you insist on a clause like the one above in any post-Inspection Amendment depends. Specifically, on whether you’re a Buyer or a Seller. Quid Pro Quo To preclude the Buyer coming back with more issues while the Inspection period is still open, Sellers should insist that...Read More
Dual Agency Dilemma #17 Never having represented both the Buyer and Seller in the same transaction (I consider it a classic conflict of interest), one of the questions I have for agents who do act as dual agents is, “how do you navigate things like the Buyer’s walk-thru inspection? Provided for in the standard Minnesota Purchase...Read More
“Earnest Money” vs. “Ernest Money” If your first name is Ernest and you were buying a house, I suppose the check you wrote to go with the Purchase Agreement could be called “Ernest money.” However, for everyone else, the proper term is “earnest money.” 🙂 Definition For those not familiar with earnest money, think of...Read More
“This Offer is Only Valid Until Noon, August 4” [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.] At least in Minnesota, where I sell real estate, deadlines are incorporated...Read More
