Avoiding the “Contingency Premium” “We may be small, but we’re slow.” –Cal Tech football team slogan. If you were a home seller, how much extra would you want in order to assume the risk that your Buyer could successfully sell their current home in a timely fashion — the standard Contingency is 60-90 days —...Read More
Actions > Words, Real Estate Edition So, how do you tell if a home Seller is motivated? Test your knowledge of today’s housing market, and identify the correct answer(s) below: A. The home is realistically priced; B. If the home hasn’t sold after a reasonable amount of market time (depends on price point, home attributes),...Read More
“The Answer to the Seller’s Question, “Do You Think I Should [ _____ ] . . . ?” is Always “Yes”** Consider the rather provocative question ” from a homeowner contemplating selling their home in a few years ” posed to The Ethicist, an advice column in The New York Times: “We live in a large house...Read More
Deafening Silence, Post-Inspection: When Hours Seem Like Days The inspection was completed, but the Buyer has been uncharacteristically incommunicado. What’s the likeliest explanation? A. The inspection was a disaster, and the Buyer intends to back out. B. The inspection went fine, but the Buyer got cold feet anyways . . . and intends to back...Read More
Passing on Overpriced Listings Everyone knows this famous passage from The Serenity Prayer: “God, grant me the serenity to accept the things I cannot change the courage to change the things I can and the wisdom to know the difference.” —Reinhold Niebuhr Here’s my version for listing agents (Realtors representing home sellers): “God, grant me...Read More
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
