Target Market: Realtors “Get Met. It Pays.” –Advertising slogan of the Metropolitan Life Insurance Company. It turns out that companies selling home warranties — increasingly, a feature of many home sales — market their policies the same way other insurance companies do. Namely, by touting how many claims they pay. The difference is that the...Read More
“Force Majeure” Clauses [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.] RISK OF LOSS: If there is any loss or damage to the Property between the Final Acceptance Date...Read More
“Undetectable Pre-Existing Condition” With the first 90º day forecast this season (tomorrow, in fact), Twin Cities homeowners will soon know if their central a/c works. That includes recent home buyers, who purchased earlier this year when chilly local temps (who’da thunk?) prevented testing their units. Fortunately, Buyers who negotiated for their Seller to include a home warranty — or...Read More
Included By Whom?? “A Home Protection/Warranty Plan will be obtained by __ Buyer __ Seller.” –Standard Minnesota Purchase Agreement, line 238. One of my favorite 1960’s-era cartoons shows a gas station with a big sign in front promising “Free Mug with Fill.” Down the street, the attendant (another anachronism) is chasing after a car that...Read More
Guilt by Association? Not Necessarily As a listing agent trying to make sure their client’s home appraises, I know the concern: if the Comp’s you provide to the Appraiser are all less valuable than your client’s home (known as the “subject property”), they’ll drag its price down, too. Not necessarily. Step #1 is to realize that...Read More
