Calculating capital gains on sale of a home is tricky. Especially if you've made improvements to the property. Not everyone enjoys calculating capital gains on the sale of a home. It requires keeping close track of the cost of improvements made to the property over the years. Over the past few weeks, we’ve fielded a [...]
"Who can help me plan for my financial future?" is the question of the week. Building a home-buying team will help you buy the right house, whether you're a first-time buyer or trading up into a larger home. Building your financial future requires more. Q: Who can help me plan for my financial future, including [...]
What is a release of mortgage letter? How do I get a release of mortgage letter from my lender? Q: I just read the article regarding the lady that has not received her release of mortgage letter from her lender. If it was my lender, she will not get the release of mortgage until she [...]
How much does it cost to own a house? Inheriting a house that you haven't lived in may mean you'll face unknown expenses. What else can you do? Q: My widowed sister owns a modest home in DuPage County, Illinois. It’s entirely paid off. Her intent is to leave her house to me–she has no [...]
Is there a tax on cash? What about a cash inheritance? How do I understand what tax my father-in-law owes on his cash? Q: My wife's father is close to death and he has moved all of his investments into his bank in the form of cash. He said that was done to help my [...]
I don't have a lease and I can't afford the rent. The current landlord is selling. What can I do? Q: I am in somewhat the same situation as the article you wrote about a new owner raising the rent on their existing tenant. In my case, the owner of my apartment died and their [...]
First-time Buyer Homes Out of Reach in 2022 Housing Market A first-time buyer finds homes are out of reach. She is looking for a home, but as a first-time buyer, she hasn't been able to get an offer accepted. Why? Q: My mom gave me a copy of Ilyce’s book 100 Questions Every First-Time Home [...]
I can't afford my rent. The landlord told me to leave. Now what do I do? This week's question is a heart-breaking look at what happens when rental property is sold in a hot market and the investor raises the rent. Q: I was renting a townhome when my landlord sold the property. I was [...]
What if I have no heirs? A reader doesn't love his family enough to leave them his assets. Now what? Q: What choices are there for a person with no immediate heirs, who doesn't want the house and other assets to go to the cousins? Who or what can inherit? What happens if a person [...]
What is a good amount of condo reserves? How do I know if my condo building has enough cash reserves? Q: How does your rule of thumb for condo reserves factor in the condo building's location? For example, the exact same building on Miami Beach and Fort Pierce would have the same reserve items and [...]
