Purchase Agreements, Deadlines, and (Other) Ultimatums [Note to Readers: 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, where I sell real estate, deadlines are incorporated into Purchase...Read More
Tying Up Loose Ends & Open Offers Admittedly, there’s usually not much doubt. But if you want absolute, “case-closed” proof that a Buyer’s offer qualifies as a lowball, here it is: when the Seller rebuffs it*, they never even bother to withdraw it. Either the offered price is so preposterously low they know the Seller will never...Read More
Tying Up Loose Ends & Open Offers Admittedly, there’s usually not much doubt. But if you want absolute, “case-closed” proof that a Buyer’s offer qualifies as a lowball, here it is: when the Seller rebuffs it*, they never even bother to withdraw it. Either the offered price is so preposterously low they know the Seller will never...Read More
Who’s Most Likely to Get Bit: the Buyer or the Seller? “What’s sauce for the goose is sauce for the gander.” –Proverb [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...Read More
“An Bird Offer in Hand is Worth Two in the Bush” It certainly seems like a reasonable request over Thanksgiving — or any other long holiday weekend, for that matter: a Buyer’s agent who connects with the listing agent (representing the Seller) to make sure that the Seller is available and able to respond to an...Read More
First Come, First Served Which of the following is a legitimate reason for a Seller to take longer than 48 hours to respond to a Buyer’s written offer? A. The Seller is out-of-town. B. The Seller’s agent is out-of-town. C. The Seller is sick. D. The Seller’s lawyer needs to review the offer. Answer: none...Read More
