Any good real estate lawyer can do the paperwork. There are two documents--a pretty standard lease and a customized option. Each one is different, but generally the option spec ... more
It is quite possible the agreement could have been for a year. I know some agents that will do standard 3 or 6 month agreements. Some like ... more
There are some good areas in both Minneapolis and St Paul that could meet those needs. I'd be more than happy to give you a tour when you're in the area. I have ... more
I always recommend that a buyer have representation from an agent. Realtors work with negotiations all the time and know what is reasonable, what areas you can negotiate for ... more
I have not dealt with this specific situation before. I will foward your question to an underwriter and post back here when I get an answer.
If the process have progressed to the CONTRACT stage, (what you describe), you are UNDER CONTRACT!
If it hasn't; you are not under CONTRACT.
According to the National Association of Realtors (NAR), lender owned properties sell at a 20% discount and short sales (where the seller owes more than the current mar ... more