You’d think that due to COVID-19 the Minneapolis real estate market would be in a tough spot – but contrary to popular belief, things are still flying off the shelf here in Minneapolis. This past July 2020 we saw an increase in Pending Sales of over 12% compared to July of 2019 – that’s a pretty darn big increase!

In hot real estate markets where properties are receiving multiple offers and properties are being sold over list price a popular technique used by savvy realtors (yours truly!) is the escalation clause.

Let’s talk about what the heck an escalation clause is and more importantly, when to use it!

Let’s use a real-world example of what an escalation clause is:

Property 123 Main Street is listed on the MLS for $100,000. This is a…

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Whether I’m working with a buyer to find a swanky new condo down in the North Loop or someone interested in house hacking and buying a duplex in South Minneapolis – the question always comes up: “should I put 3.5% down or 20% down?” Great question! Let’s dive into that here!

I’ll preface the following by saying there are certain instances where you simply CANNOT put down as little as possible (in most instances that’s 3 – 3.5%). These would be non-owner occupied properties and common interest communities with retail/commercial space in the building – each property and situation can be unique (that’s why I’m here to help!) but for the sake of this article let’s assume this is a property you’re GOING to personally occupy (this means you COULD put…

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