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
Standard for Buyer’s Walk-Through Inspection “Buyer has the right to a walk-through review of the property prior to closing to establish that the property is in substantially the same condition as of the date of this Purchase Agreement.” –Minnesota residential Purchase Agreement; lines 358. – 360. “I know it when I see it.” —United States...Read More
Buyer’s Walk-Thru Inspection Multiple Choice Which of the following is an acceptable reason for the Seller to leave their home in (much) less than pristine condition for the new owner: A. Their Seller left the home a mess for them when they bought (call it, “the anti-Golden Rule”). B. They ran out of time. C....Read More
As Minnesota home sellers know (or should), the required Seller Disclosure is a “live” document, up to the date of closing. Translation: if something bad happens to the house after it goes on the market, the Seller needs to update their disclosure. But, what happens if the Seller is long gone? (often the case with...Read More
Home Seller, Buyer Options In the wake (literally) of record-setting rainfall locally last month, it’s a good bet that thousands of formerly dry Twin Cities basements — and previously well-functioning roofs — sprang a leak (or two). See, “Seattle East.” Statistically, it’s further likely that at least a couple hundred of those homes are under...Read More
“Bundle of Sticks” — and a Club At least in Minnesota (where I sell real estate), Sellers who aren’t moved out by closing — and thereby risk derailing the deal — occurs much less than you’d expect. In fact, in 14+ years in the business, I’ve never had a closing postponed or even delayed by a...Read More