Negotiate Formally or Informally?  It Depends [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.] OK, so “Written vs. Verbal Counter-Offers” isn’t a very sexy title. But it’s a fascinating...Read More

Conspicuously Missing Term:  Asking Price One of the more confusing contracts in residential real estate is what’s called a “One Time Showing Contract.” As you might guess, unlike a Listing Contract, which allows the Realtor to market a home to the world, a One Time Showing Contract contemplates a deal with exactly one prospective Buyer. Key Terms In...Read More

Why Buyers Can Walk When the Home Doesn’t Appraise “Buyer agrees to pay in the following manner:  1) Cash of _____ percent (%) of the sale price, or more in Buyer’s sole discretion . . . “ –Excerpt, standard Minnesota Purchase Agreement (emphasis added). [Editor’s Note:  The views expressed here are solely those of Ross Kaplan,...Read More