Left Holding the (Garbage) Bag: Reason #17 for Buyers to Do a Walk-Through Inspection It’s certainly possible that the weekly garbage collector will haul away all of the Seller’s junk, left curbside. But, I wouldn’t count on it. And neither should the Buyer. Instead, I’d negotiate either: a) a $500 escrow (holdback) from the sales...Read More
The Easy Way . . . and the Hard Way The Buyer’s inspection revealed a material defect in the home that the Seller doesn’t dispute. Both parties want to stay in the deal. What are their options? Option #1: the Seller fixes the problem, prior to closing. Here are the related steps: Buyer and Seller...Read More
Standard for Buyer’s Walk-Through Inspection “I know it when I see it.” –United States Supreme Court Justice Potter Stewart’s threshold test for defining obscenity. What’s fair game for raising issues during the Buyer’s walk-through inspection? (typically, conducted within 48 hours of closing). At least in Minnesota, any changes to the home since the Buyer’s inspection that substantially alter its...Read More
Agent-to-Agent Closing Courtesy While the Seller is busy passing house keys, garage door openers, etc. to the Buyer at closing, the Buyer’s agent often is transferring something to the listing agent, representing the Seller: the listing agent’s lockbox (no, the correct answer isn’t, “a flask of whiskey”). As a courtesy, Buyers’ agents will often ask...Read More
Disposing of Old Paint (Or Not) I have an (almost) fail-safe way of predicting whether or not the Buyer wants the Seller’s old paint. If the Seller leaves it . . . the Buyer wants it removed. If the Sellers gets rid of it . . . . the Buyer wanted it left. Coin Flip...Read More
Not Getting What You Don’t Pay For It won’t show up in my 2012 sales statistics (or my bank account), but one of the more protracted deals I was involved with this past year was helping a good friend (and repeat client) buy a $63,000 St. Paul foreclosure. Why no record of the deal? Because I...Read More
