When Doesn’t “Sold” Mean “Sold?” When it comes to residential real estate, when does “Sold” not mean “Sold?” When it means “Pending” (as in, when there’s a big, bold “Sold” sign in front of a “For Sale” home). Huh?!? At least in Minnesota, once the Buyer’s Inspection has been removed,** the convention is to switch...Read More
TWO Duties to Disclose: Owner’s . . . and the Agent’s [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 in Minnesota, it’s permissible for Sellers to tell...Read More
Dangerous Default Language (at least for Buyers) [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.] Once upon at time (OK, till 2016), Minnesota home buyers who discovered inspection issues that required...Read More
TWO Duties to Disclose: Owner’s . . . and the Agent’s [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 in Minnesota, it’s permissible for Sellers to tell...Read More
In a business where guaranties should be viewed skeptically, how can you know for sure that the Buyer’s final walk-thru inspection will be uneventful? Answer: they waive it. 🙂 At least in my experience, it’s a (very) rare occurrence. But, it’s usually associated with one (or more) of the following three factors: 1) the home is...Read More
The Waiting (In Between the Buyer’s Inspection and Their Follow-up) “If Buyer does not cancel this Purchase Agreement before the end of the Inspection Period, then this Inspection Contingency shall be removed and this Purchase Agreement shall be in full force and effect.” –Minnesota Purchase Agreement, lines 189. – 191. Anxious Sellers fretting about what...Read More
