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runner-up Buyer

Home Seller to Runner-Up Buyer: “Buyer #1 Walked. Are You Still Interested?”

“Second Bite of the Apple” — Housing Market Edition [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.] Due to a chronic, ongoing shortage of listings, the Twin Cities housing...
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“Once Bitten, Twice Shy?” Not in the Housing Market

Runner-Up Buyers “Once bitten, twice shy” may be true in romance, but it definitely does not apply in residential real estate. At least, that seems to be the case in housing markets with scarce inventory and rising prices — true in many parts of the country now, including the Twin Cities. More Aggressive On the contrary, would-be...
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Real Estate’s Waiting List: “The Backup Offer”

“The King Deal is Dead, Long Live the King Deal!” As expectant high school seniors (and their anxious parents) know all too well this time of year, colleges have waiting lists. But so, too, does residential real estate. They’re called “backup offers.” First in Line Such offers are increasingly popular in a Seller’s market (Pssst!!...
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