Robert Guthridge's Blog

It Depends Who’s Talking “Have you ever noticed that their stuff is sh*t and your sh*t is stuff?” —George Carlin Part of real estate sales — make that a big part — is handling clients with sensitivity and respect. That’s especially true for elderly clients, who haven’t moved in decades and have strong emotional ties to their home. And everything in it, valuable or not. Eye of the Beholder So . . . Realtors’ term for emptying out a house full of accumulated items with little or no market value is “trash-out” ( as in , “Does anyone know of an affordable contractor who can do a trash-out for an upcoming listing?”). Clients prefer to use (and hear) the word “de-clutter.” Ultimately, what matters isn’t the verbiage — it’s that the home is emptied out and prepped for sale (staging, fresh paint, any needed repairs done, city inspection, etc.) before coming on the market. S ee also:  “ Real Estate Euphemisms “; “ Real Estate Clichés and How to Avoid Them “; “ Show and Se...

Opaque Crystal Balls No, that’s not the title of the recent article forecasting what’s next for the U.S. housing market — or a satirical headline from The Onion . This is the article’s actual title, from  The New York Times (4/22/2021): U.S. Home Sales Are Surging. When Does the Music Stop?” So, when does the music stop? According to the article, “rising mortgage rates and incredibly tight inventory in some markets . . . will likely keep demand strong through the rest of 2021, even as price growth moderates.” Broken Clocks & Housing Pundits Of course, to point out the obvious, almost no one — in or out of the housing market — predicted that a Pandemic would paralyze the U.S. and global economy starting early last year. Meanwhile, the handful of experts who did forecast an imminent pandemic also forecast one in 2019, 2018, 2017, 2016, etc. (sort of like stock market perma-bears who perpetually predict “The Big Crash!”). Even if someone knew there was going to be...

Tudors aren’t everyone’s cup of tea. The knocks? For starters, at least in the Twin Cities, many Tudors date to the 1920’s and 1930’s. Translation: even if they’re in magnificent condition . . . they’re old. Such Tudors often have formal (vs. open concept) floor plans typical of that era, and — unless their original hot water heat system (boiler) has been converted to forced air — either may not have central air conditioning at all, or may use a system of “mini-split” a/c units that don’t require installing new ductwork. Finally, Tudors often have some other features (like stucco exteriors, steeply pitched roofs and gables, dark(er) interiors, and older windows) that are turn-off’s for at least some Buyers. Pro’s Ahh , but to Tudor fans (I’m one), those are mere quibbles compared to the genre’s myriad charms. That includes built-in buffets, hardwood floors, crown moldings, gorgeous millwork, and fireplaces — lots and lots of fireplaces. And while it’s purely anecdotal, I can’...

Quick! What’s the region in red called? “What’s the Matter With Kansas Iowa?”** In modern English, a shibboleth can have a sociological meaning, referring to any in-group word or phrase that can distinguish members from outsiders – even when not used by a hostile other group. It is also sometimes used in a broader sense to mean jargon, the proper use of which identifies speakers as members of a particular group or subculture. –Wikipedia Once upon a time, if you were a Twin Cities Realtor trying to drum up business around the City Lakes, you had be careful to call it “Lake Calhoun,” not “Calhoun Lake” (the lake was renamed “Bde Maka Ska” in 2018). See , “Calhoun Lake??” Is that by Isles Lake? .” Similarly, if you’re a national correspondent for The New York Times doing a deep dive on Iowa politics, post-Trump(?), you’d better refer to the region as the locals do. That is , “Upper Midwest,” not “northern Midwest.” Shibboleths Then & Now Unlike in biblical times, trippi...

Listing Agents Who Call the Buyer’s Lender As a Buyer’s agent, how can you tell if the listing agent (representing the Seller) is taking your client’s offer seriously? They call the Buyer’s lender — specifically, the lender on the Buyer’s Pre-Approval letter — and verify key information. Like , whether they’ve previously worked with the Buyer; the type of loan being applied for (conventional, FHA, etc.); and any other circumstances likely to affect that Buyer’s creditworthiness — and therefore their odds of getting a mortgage. Of course, if the home has received multiple offers, the listing agent will also want to confirm whether the Buyer can afford not just the list price, but the (much) higher amount they’re offering to pay; and whether the Buyer has the wherewithal to make up any deficit if the home appraises low. Qualifying the Buyer — and the Buyer’s Lender When I’m the listing agent, I also like to vet the lender, their institution (if it’s not a “name brand” like We...

“I’ll List Your House for $700k $750k $800k!!” Anxious Buyers aren’t the only ones bidding up home prices this year. So are some Realtors, including at least a few who should (and do) know better. Housing Market Icaruses One of the things that can happen when prospective home Sellers interview lots of agents in an overheated housing market is that one (or more) quote an unrealistically high asking price to get the listing. After all, Realtors are competitive, too. The practice — called “buying the listing” — virtually ensures that the home will debut on the market overpriced. What happens next? Usually, nothing. Negative Feedback The home doesn’t get shown, or, if it does, the feedback is uniformly negative (if not harsh) because the house is underwhelming compared to its (better-priced) peers. Eventually, a price reduction (or several) are necessary to re-attract prospective Buyers and ultimately sell the property. Unfortunately, by then, the damage is usually done. Ho...

When a buyer agrees to purchase a property from a seller, the buyer usually pays earnest money as a deposit on the home. The earnest money amount varies based on the type of deal being done, and the price of the home. The earnest money goes along with the contract to buy and sell but ... Read more from RSSMix.com Mix ID 8230700 https://ift.tt/3gNbV34 via IFTTT

Synch-ron-ate”: recording a show, then watching it — without commercials — so as to finish at the same time as the live telecast. –Proposed new word; Ross Kaplan. Want to watch the Oscars tonight, but not all the commercials? (inordinately bunched at the end — or at least, so it seems). If you have a DVD, here’s how to do it (actually, it works for any show): Step #1 : Determine the length of program — or, in case of the Oscars, estimate it. I’ll go with 3.5 hours for the Oscars (7 p.m. to 10:30 p.m. Central). Step #2 : Multiply the number in Step #1 by .30, to account for the approximately 30% of the show that consists of commercials. Step #3 : Add the product in Step #2 (about 1 hour) to the start time in Step #1 (7 p.m.). Voila!   7 p.m. + 1 hour = 8 p.m. So, if you start watching the Oscars live at 8 p.m., and “zip” thru all the commercials, you’ll finish (“sychronate”) with the end of the show in real time (around 10:30 p.m.).** Just a heads up, though, to w...

“Upselling” vs. “unselling” (“anti-selling?!?”) What’s the Opposite of “Upselling?” Jeff Bezos didn’t grow up in Minneapolis. Or if he did, he certainly didn’t work at a local hardware store ( yes , they still exist in the Twin Cities; amongst other things, it’s where lots of local youth get their first job). I know that because twice in two weeks now, at two different hardware stores, the (too?) helpful sales clerk has talked me out of buying the thing(s) I came in to buy — but only after telling me about a better, cheaper (or free!) way to accomplish my goal(s). Better Solution (Literally), or, “Pouring Salt in the Wound” Like , instead of using chemicals to kill the stump of a volunteer tree growing too close to my house, drill holes in the stump, then put salt in the holes. Or, instead of replacing a torn bathroom shade (for $25 – $50), buy a plastic handle (cost: $1.49) that matched my shade color, then use that to cover up the tear. Works for me! Lost Business? Hardl...

“So Done” vs. “Are You Done Yet?” For an unassuming four letter word, “done” sure has a lot of different connotations. I count at least eight (below), including two meanings — one good, one bad — popular in residential real estate. One . To perfection. Example: “That house is done. It’s not staged like a spec house.” See , “done to the nines.” Two . Dated, out-of-fashion; over. Sometimes preceded with a “so” for emphasis. “Earth tones/granite counters/stainless steel are [so] done” (actually, they aren’t). Three . Completed a chore or task. “Are you done with your homework?”; “the laundry’s done,” etc. Four . Completed an unsavory or illegal task, usually uttered in a low, confidential voice. Hit man to client: “it’s done.” Five . Thoroughly cooked food; upbeat declarative. “The steaks are done!” Six . Exhausted one’s patience — usually a parent’s — following which the activity in question is abruptly ended. Most common formulations, uttered with exasperated disgust: “We’re [d...

What’s More Than a Full Bath? By convention, Realtors call a Bathroom with a sink, toilet, bathtub and shower a “full” Bath. Because each of those items counts as .25, a Bathroom missing one or more of them is considered a fractional Bath. So, a Bathroom with a sink, toilet, and shower (but no tub) is a 3/4 Bath. Luxe Bathrooms Ahh , but what do you call a Bathroom with all four of the usual features plus a freestanding shower? And not just a bare-bones, telephone booth-like fiberglass shower insert, but a granite and ceramic tile-framed enclosure with multiple, Jaccuzzi-like water jets; heated tile floors; built-in music and cable TV; and custom recessed lighting. You could easily make the case that such a room qualifies as a 1.25 or 1.5 Bath (or 1.375 or 1.625 Bath, if it includes a bidet). P.S.: Notwithstanding the picture (above), I’ve yet to see a Bathroom with a Fireplace. But, given that it’s Minnesota . . . why not?? See also , “ Partial” Bathroom . from RSSMix.co...

Dual Agency Dilemma #17 [ 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.] Never having represented both the Buyer and Seller in the same transaction (I consider it a classic conflict of interest), one of the questions I have for agents who do act as dual agents is, “How do you navigate things like the Buyer’s walk-thru inspection? Provided for in the standard Minnesota Purchase Agreement, the walk-thru is when Buyers go through the (hopefully) now-vacant home just before closing. The usual checklist: 1) verifying that there are no changes in the home’s condition since the inspection (and that the 3″ deluge the night before didn’t flood the basement); 2) making sure that the home has been left reasonably clean, and that there’s been no move-out damage; 3) that any personal property that’s supposed to be i...

Labor + Capital + Raw Materials = Finished Goods [ Note to Readers : This year, approximately 500,000 high school seniors applied to the Ivy League and highly selective schools like Stanford (my alma mater), MIT, and the University of Chicago. Around 475,000 of them (95%) — including my hard-working, ridiculously talented 18 year-old son — were rejected. The following post is for them — not just as they decide amongst dozens of other stellar colleges and universities ahead of the May 3 deadline, but as they approach their undergraduate studies the next four years.] I spent four years learning economics at Stanford. I’ve spent (going on) the last forty years unlearning it. It’s not that Stanford failed me. It turns out that the entire field of modern economics was built upon not one but two outmoded ideas, if not conceptual San Andreas faults. It’s All Software Now Fundamental flaw #1 was economists’ presumption that people are utility-maximizing, rational actors. Unh-unh....

Derek Chauvin Convicted on All Three Counts; Minnesota — and the World — Exhale from RSSMix.com Mix ID 8230700 https://ift.tt/3gqrzl5 via IFTTT

The world has become full of people telling us how to live our lives. How to spend our money, how to save it, what career to get, and what we should dream about. I can’t stand it when people tell others exactly how they should live! We are all different and we all have different ... Read more from RSSMix.com Mix ID 8230700 https://ift.tt/32ymXkt via IFTTT

Reason Not to Lie #37 Lying is hard, telling the truth is easy. By definition, every good Realtor juggles: multiple clients, dozens of showings, lots of parallel deals at varying stages. It’s hard enough keeping all the details straight and presenting them coherently to your client(s); not tripping yourself up in a web of lies would seem to increase the ‘difficulty factor’ exponentially.” –Ross Kaplan, “Freakonomics Rebuttal”; City Lakes Real Estate blog. Faithful readers of this blog might be surprised to hear me say that, as far as I can tell, Realtors seldom lie — and good Realtors never do. There are multiple, reinforcing reasons for that: it’s unethical, it’s bad business, it’s hard to do (see above), it’s easily found out, etc., etc. Busted (Then Fired) On that last score — it’s easily found out — consider the anecdote about a local Realtor who felt the need to “embellish” the turnout at a Tuesday broker open (Note: at least in the Twin Cities, the custom is for Realtors...

Overwhelmed Listing Agents Improvise to Communicate with Buyers’ Agents Once upon a time, the “Agent Remarks” field on MLS was used to supplement the marketing verbiage in the “Public Remarks” field. That is , if it was used at all — listing agents often simply copy-and-pasted their Public Remarks into Agent Remarks. Now? Especially for new listings in the throes of multiple offers, it’s a way for listing agents (representing home sellers) to efficiently update Buyers’ agents. Dozens of Buyers’ agents, in many cases. The most common information divulged: –Whether the home has received multiple offers. –If so, the deadline for submitting offers (in Minnesota, typically “highest & best”). –Any change in aforesaid deadline. –Key terms the Seller is looking for in any offers (closing date, time of possession, excluded items, etc.). Ideally, all that information would be conveyed, individually, to Buyers’ agents. However, in a housing market frenzy where some homes are see...

[ Note to Readers : The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] Boarded up: Minneapolis braces for the Derek Chauvin jury verdict. George Floyd . . . the Derek Chauvin trial (and now, jury deliberations) . . . Daunte Wright . . . and — as of last night — Walter Mondale . With the possible exception of the two Super Bowls hosted locally and the aftermath of George Floyd’s murder last May, it’s likely that Minnesota has never loomed larger in the nation (and world’s) consciousness. My two sentiments: 1) healing begins with holding Derek Chauvin legally accountable for George Floyd’s death; and 2) the sooner Minnesota goes back to being “flyover country” . . . the better. See also , “ Minneapolis Waits for Dark “; and “ Needed: “Minnesota Miracle 2.0″* . from RSSMix.com Mix ID 8230700 https://ift.tt/3arXEVD via IFTTT ...

4/20/2021: Time for Feds to End Cannabis Prohibition New Mexico Legalizes Recreational Cannabis.” –Santa Fe New Mexican (April 13, 2021) “New York Legalizes Recreational Marijuana, Tying Move to Racial Equity.” –The New York Times (March 31, 2021). “Marijuana Will Be Legal in Virginia on July 1.” –Virgina Mercury (April 7, 2021). [ Note to Readers : The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] The old definition of the Yiddish word “chutzpah” was, “killing your parents, then throwing yourself on the mercy of the court because you’re an orphan.” Today? There are two new definitions, both courtesy of the anti-cannabis lobby: Objection #1 : “Cannabis has no medical benefit(s).” The reason cannabis’ properties have yet to be broadly studied, let alone medically validated, is because it remains a “Schedule 1” drug in the...

See if you can guess which of the following contractual terms reportedly clinched the sale for the winning bidder in a recent Twin Cities home sale: A. Purchase price was $10k higher. B. Closing date was flexible. C. They waived the Buyer’s home inspection. D. They assumed a $600 pending city assessment. Correct answer: “D.” That answer isn’t as far-fetched as it might seem, especially if the competing offers were closely bunched. That’s because a Buyer who assumes a $600 special assessment isn’t just paying nominally more for the house. They’re also signaling that they’ve read (and digested) the Seller’s various disclosures, and are likely to be similarly diligent when it comes to things like resolving any inspection issues, securing their financing, and generally working together the next 4-6 weeks. Which is exactly the kind of Buyer that Sellers want to sell to . . . (tough syntax, I know ). from RSSMix.com Mix ID 8230700 https://ift.tt/3ejtWDk via IFTTT

Overheated Housing Market Prompts MLS Rule Changes [ 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.] Combine an overheated housing market with seemingly zero inventory; rampant multiple offers; and legions of multiple offer “runners-up,” and what do you get? Unprecedented pressure from Buyers to see new listings before their competition does. No doubt that’s what is behind the local MLS’s rule changes, announced last week: Coming Soon Status: Violations of the “No Showings” rule will now also apply to the Showing Agent , with escalating fines for repeat violations: No showings or open houses are allowed while a listing is in Coming Soon status.  Because it is a serious offense, a first violation is a $1,000 fine.  Fines double with repeat offenses.  Under the newly passed compliance guide...

Covid-19 Back-to-School Quotes: That’s a Lower Case “V,” Not Upper Case [ Note to Readers : In honor of my kids’ post(?)-pandemic return to in-person classes earlier this month, I’m re-running the post below. The quote below was uttered by my then-8 year old daughter. She’s now 16.] My three kids are (blissfully) back in school as of last Monday. Which means that they’re coming home with the first volley of homework assignments. Discussing one such assignment with my soon-to-be nine-year old daughter, I imparted the adage, “History is written by the victors.” Her response:  “ You mean , Harold and Marilyn Victor?!?” The Victors are family friends of ours . . . from RSSMix.com Mix ID 8230700 https://ift.tt/3x8pJee via IFTTT

Covid (Shot) Confusion, or, “ One Two & Done” Thirteen months into a pandemic, most people know the drill by now: wear a mask, stand six feet apart, stay home if you’re experiencing systems. Which is fortunate, because anyone standing in line for a Covid-19 shot this morning looking down would have had no clue what the various black, red, and blue lines on the floor meant. The explanation? We were standing on the gym floor of the Robbinsdale Middle School — specifically, the basketball court; the lines indicated the top of the circle (key), the free throw line, and the “paint” or three second area. Not That Kind of Shot Afterwards, the very helpful staff — remarkably, all volunteers — offered two helpful tips: One . Take a picture of your Vaccination Record Card, just in case you lose it (note: don’t lose it). Two . Destroy the QR code on your appointment confirmation paperwork. Used to confirm people’s identity at the sign-in desk, unbeknownst to many people (myself in...

[ 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.] If you want the scoop on a busted deal, a good starting point is the listing agent (representing the Seller). However, if you want the real scoop . . . talk to the former Buyer’s agent. That is, assuming you can find them — and if they’ll talk. MLS Status Once there’s a signed Purchase Agreement, the convention** is to switch a listing’s MLS status to “Active – Inspection” (“A,i”), assuming the Buyer is doing a home inspection (the case 95%-plus of the time — make it , 90% of the time in a raging Seller’s market). However, the name of the Buyer’s agent doesn’t appear on MLS until the Inspection Addendum is officially removed, and the home’s status is switched to “Pending.” The upshot: if the deal founders over inspection issues — the usual scenario when a d...

Guess which ceiling light is actually a solar tube. From an energy and maintenance point of view, the perfect home is probably a cave: only one opening, deep underground or in the side of a mountain. But most people don’t want to live that way. So, modern homes have lots of (energy-leaking) doors and windows (now mitigated by triple-pane glass, argon gas, etc.). Retrofitting So, what do you do if you have an older, darker home? One option is to add skylights. Aside from the considerable expense — typically, several thousand dollars — they can pose maintenance headaches. That’s because they must be expertly installed and insulated, and even then can be condensation magnets, especially in bathrooms. The result can be an ongoing moisture or even mold problem. Alternative: Solar Tubes Solar tubes avoid those problems. Just like what they sound like, they let outside sun in, and through reflection, actually concentrate it. They also cost hundreds of dollars apiece (vs. thousan...

Minimizing the Risk of Going From a Royal Carriage to a Pumpkin [ 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.] Any Realtor who’s represented a Seller in multiple offers knows the risk: 7-10 days after the initial feeding frenzy subsides, the winning Buyer’s inspection (assuming they didn’t waive it) turns up a major issue — or several — and the deal is suddenly off. Unfortunately, at that point, the runner-up Buyers have often moved on, or, at the very least, are suddenly dubious about the home’s condition (and perhaps the credibility of the Seller and/or listing agent). How do Sellers avoid having their shiny, multiple offer “carriage” suddenly turn into a pumpkin? Have their home pre-inspected before going on the market. Quiet Before the Storm What happens next? If the pre-inspection uncovers any signific...

Fake News Photo “True or False” Quick! Is the photo (above) of a lower level Amusement Room real or enhanced (through a wide-angle lens, etc.)? Answer: it’s real. According to MLS, the room measures a whopping 45(!) feet long. The foundation size of the home — a rambler — is well over 2,000 square feet, lending further credence to such a big Amusement Room. See also , “ That Garage is HOW Big?!?” ; “ The Far-Away Fireplace “;  “(Too) Flattering Photography “; “ Trick Photography ?”; and “ The Far Away Buffet?” from RSSMix.com Mix ID 8230700 https://ift.tt/3sb9UQB via IFTTT

Advice to Would-Be Home Sellers on Dual Agency: “Don’t” [ 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.] If your prospective Realtor won’t agree to adding the clause above to your listing contract . . . you should consider hiring another agent. In fact, I feel so strongly about that stance that I’ve included that language in every listing I’ve ever taken. Conflict of Interest Why is that promise such a big deal for would-be Sellers? Because otherwise, you have no assurance that your Realtor won’t also be negotiating against you, in their capacity representing your Buyer. I don’t know about other agents, but I don’t know how to negotiate against myself. Mutually Exclusive Roles Instead, agents who represent both the Buyer and Seller in the same transaction — a practice called “dual agency” — essentially play ...

Better Than Mirrors** How do you make a home that may be smaller and/or have a challenging layout, feel bigger and more flowing? Pick one floor covering to use throughout. Depending on the size home, putting in a new, neutral-colored Berber carpet can cost $5,000 (or more). But, it can easily add 3x – 4x to the home’s value — and sell it faster (not that that’s a problem these days  . . .). **Show me a room in a “For Sale” home with 3 or more mirrors, and I’ll show you a stager or listing agent (representing the Seller) . . . trying to camouflage a too-small room.  from RSSMix.com Mix ID 8230700 https://ift.tt/3wUvJaE via IFTTT

Buying a house is a dream for many people. Houses are expensive and they keep getting more and more expensive. Very few people have the cash needed to buy a house outright but mortgages are available, allowing the majority of people to own a home. In the United States, about 67% of households own the ... Read more from RSSMix.com Mix ID 8230700 https://ift.tt/3sfue3g via IFTTT

Getting Two Out of Three Right We’re in Minnesota, so here’s the weather forecast: the rest of April: cold; May: cold; June: cold; July: somehow hot as hell. Back to y’all.” –Saturday Night Live; cold open (April 10, 2021). As a Minnesota native and long-time Twin Cities resident, I can attest to the “perpetually cold” weather forecast (our brief yet hot-and-sticky Summers aside). However, SNL gets two things wrong: One . Far from being brief, the weather segment can easily take up 10-15 minutes of a 30-minute local newscast — more if the weather is threatening (blizzards, hailstorms, etc.). It’s in places like San Diego where the weather forecasts are “blink-and-you-missed-it” quick (“tomorrow’s forecast is 70 degrees and sunny — just like yesterday, and the day before yesterday, and . . . “). Two . The locals are known for saying things like “You betcha,” “Don’t-cha know,” and “pop” (instead of “soft drink” or “soda”). However, I’ve never heard a real Minnesotan utter the ...

The opposite of “approbation” — a fancy synonym for “approval” — is the word, “disapprobation,” which naturally means dis approval. It would stand to reason, therefore, that the opposite of “opprobrium” — harsh criticism or censure — would be “disopprobrium.” Unh-unh. No such word. All of which leaves me pleasantly mayed** . . .     **The opposite of “dismayed.” from RSSMix.com Mix ID 8230700 https://ift.tt/320TfEJ via IFTTT

Ironically, the better Realtors get at helping clients buy and sell real estate . . . the worse they can get at certain related tasks. Here are three areas where it’s easy for agents to let their skills atrophy — or never acquire expertise in the first place: One . Market reports/updates. Show me a listing agent who’s hyper-proficient providing their clients with regular market updates . . . and I’ll show you an agent whose listings take longer than average to sell. It’s axiomatic that, homes that sell quickly, don’t require explanations for why they’re not. The two major exceptions: a) more expensive homes, that routinely require longer market time; and b) Buyer’s markets (remember those??), where everything takes longer to sell. Two . Arbitration/Litigation. How do you become an expert in post-closing litigation (or arbitration, if both parties agreed to that)? Be involved with a deal that went (very) sour. I’m happy to report that, after almost 19(!) years selling residen...

Cost to Move > Fair Market Value Once the Buyer and Seller have resolved any inspection issues — that is , assuming Buyer hasn’t waived their inspection, to prevail in multiple offers — it’s common for the two parties to discuss any personal property that the homeowner may want to sell. Like many negotiations, the party who speaks first often loses. So, at least in my experience, a Buyer who (too eagerly) expresses interest in specific items is likely to have to pay more. By contrast, by simply being quiet, the Buyer can often score one or more items gratis. Exhibit A: that extra freezer in the basement. Free Basement Freezer? Maybe Especially if the freezer is older, it can very well cost more to move than it’s worth. Because the Seller is contractually obliged to remove all personal property prior to closing, they actually need to get the Buyer’s permission to leave it behind. As long as the price is “free,” Buyers usually agree (once they confirm it’s in working order) ....