Worst-Case Scenario Don’t feel too sorry for homeowners: in today’s Seller’s market, they’re calling the shots (and getting top dollar). But, if you want to see Sellers in a more sympathetic light, consider this: selling a home now can involve not one inspection, but — including required re-inspections — eight to ten(!) separate visits, depending on the Buyer’s financing;...Read More
Having the TISH Done TOO Soon(?) Assuming the local municipality requires a Truth-in-Sale of Housing (“TISH”) inspection, the usual answer to the question, “When should prospective home sellers have the city inspection done?” is, “as soon as possible.” That gives the homeowner a head start addressing any required repairs, and allows them to combine the...Read More
“Do Not Pass Go. Do Not Collect $200” [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.] Consider this not-so-hypothetical inspection scenario, and try to guess the outcome: “The licensed...Read More
Multiple Offer Photo Finish If you’re a home seller trying to decide among four virtually identical offers for your home (Yay!!), which one do you choose? At least for one recent Twin Cities seller, the tiebreaker was the Inspection Contingency. Specifically, one of the four offers included a $500 cap on any inspection requests. Painless...Read More
Dangerous Default Language (at least for Buyers) Up until last August, Minnesota home buyers who discovered inspection issues that required negotiation with their Seller were safe. If they proposed an Amendment reducing the sales price say, $1,500 as a result, and the Seller said “no,” the deal automatically cancelled at the end of the agreed-upon inspection period....Read More
Two Risks, Not One [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.] If Buyers can waive a home inspection altogether (they can), it stands to reason they can get...Read More
