“It’s Not My Problem (Really)” — Realtor Edition What’s the difference between a “newbie” Buyer’s agent and a veteran? It’s a long list, but here’s one example: Newbie agent: When the front door knob comes off in their hands during a showing, the newbie agent is convinced that they broke it, and feels terrible. After...Read More
Financing Contingency Pitfalls One of the surprises lurking in the standard Minnesota Financing Addendum is the weaker of the two clauses addressing the Buyer’s financing. In layman’s terms, it says that if the closing date arrives and the Buyer’s financing falls through: a) there’s no deal; and b) the Buyer gets their earnest money back. For...Read More
“Build It and They Will Come” Real Estate Development “Silicon Valley Spec House Seeks $42.8 Million.” –Headline, The Wall Street Journal (3/2/16) For the uninitiated, a “spec” or “speculative” house is a home that a developer first builds, then tries to sell. That’s opposed to a home that’s commissioned by/for an existing client, and built...Read More
Can You Say, “Organized Seller?” In Minnesota, home Sellers generally must complete a state disclosure form detailing the condition of their home, and provide it to prospective Buyers. That is, unless the Seller and Buyer agree in writing that the Seller is waiving that duty. In practice, most Minnesota Sellers do the former. And that’s...Read More
Multiple Offers x 2 You know a home is a hot commodity when it hits the market; immediately attracts multiple offers; has a deal fall apart; goes back on the market; then immediately goes into multiple offers again. Believe it or not, that exact scenario just played out in St. Louis Park’s Fern Hill neighborhood....Read More
“Just Say (Hell) No!” — Realtor Version; or “It Doesn’t Hurt to Ask, Right?” Wrong! [Editor’s Note: Realtor rant alert — if you are one of the vast majority of prospective home Buyers and Sellers who value and respect your Realtor’s considerable efforts on your behalf, please skip the following. If, however, you’re not — or you’re a Realtor...Read More
