Question #2: Is That Different Than “Large?” “Original hardwood floors have just been re-done, four oversize bedrooms, tremendous woodwork & period fixtures.” –“Public Remarks,” MLS [Editor’s Note: No, this isn’t another Donald Trump-inspired post. If you’re looking for one of those, check out “Trying to Find Mar-a-Lago? Look for Donald Trump’s Very Big (in fact,...Read More
Quick Answer: “It Depends — But Usually Less Than Buyers Think” “At the closing table, the Seller will walk away with a check ” and whether the money comes from the Buyer or the lender doesn’t matter.” –“Do Home Buyers Who Pay Cash Get a Discount?”; The Wall Street Journal (11/4/2010). The answer to the...Read More
Sticker Shock (& Disclosure Question) [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.] At least some Minneapolis homeowners are suffering sticker shock in the wake of receiving notices from...Read More
“Never Ask a Barber if You Need a Haircut?” Yes, But . . . If you’re going to pronounce last rites on an expensive-to-replace capital item in a home, far better — at least from the Buyer’s perspective — to do it the day before closing, rather than the day after. Make that, during the...Read More
New Investing Stat: “Who’s Made the Most Money for the Most People?” [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.] Statistics geeks realized a long time ago that an individual athlete’s numbers don’t necessarily tell the whole story....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
