How to calculate profits and taxes on a home sale. This reader wants to know how to determine profits, costs and taxes on a home sale. Q: I have a question about selling your home and trying to determine the cost basis for tax purposes. Is the profit the difference between the sale price of [...]
Is it better to rent or own your home in retirement? This reader wants to know if they should continue renting or use their savings to buy a home. Q: I'm 66 years old, with $5,100 dollars in monthly income from the government. I have no living dependents. I currently pay $1,600 a month in [...]
Do I really need a home inspection before buying a home? This building inspector explains why it’s so important to hire a professional, qualified home inspector. Last October, we answered a question from a reader asking when it is okay to buy a house that was updated without pulling necessary permits. (In some areas of [...]
Should I amend my living trust when I buy more property? This reader moved and purchased two new properties since they last amended their trust in 2006. Q: I live in Florida and have a living trust which was amended in 2006. My daughter is my only heir and has now married. I have moved, [...]
Does our condo association have a case against the builder? They found out the roof was built against code and the cost to repair is upwards of $150,000. Q: In 2006, we purchased a condominium in Chicago on the third floor of a 3-story building. Over those years, we’ve experienced water issues with the roof [...]
What happens if my husband dies and the title is only in his name? This reader is on the mortgage but not the title and hasn’t had any luck fixing it. Q: My husband died in 2013. After his death I learned that the title to our home we purchased when we got married was [...]
What should I do if I don’t qualify for the full home sale exclusion? This wants to know if they have any other options to reduce taxes on the home sale. Q: We're a French family moving back to France next year. I read that a married homeowner who has lived in his principal residence [...]
Do I need a real estate attorney to buy a house? This reader can’t find a residential real estate attorney and wants to know how to proceed without one. Q: I have a goal of becoming a first-time homebuyer soon. I picked up Ilyce’s 100 Questions Every First-Time Homebuyer Should Ask book and found it [...]
Do you need a real estate agent to buy or sell a house? These readers bought their home and sold a vacant lot without the help of any real estate agents. Q: My husband and I sold a vacant lot in Texas this past year without any agents being involved. We have followed the market [...]
What happens when no one runs for the HOA board? This reader’s association doesn’t vote on board members, they step up whether they’re qualified or not. Q: I wanted to comment on your recent column in the Sarasota Herald Tribune relating to the use of a homeowners association (HOA) pool during COVID-19. Halfway through your [...]
