What are the responsibilities of a condo association? This reader says rodents are all over the property but the homeowners association board won't act. Q: Are there laws that govern rodent control for condos? My neighbor feeds birds 50 pounds of bird food at a time and now I have squirrels in my unit. Mice [...]
Is the real estate market slowing down? What's happening with the housing market and what happens when the real estate market turns from hot to cold. Recently, we came across a headline in a local Chicago news outlet about an expensive home that had been for sale for a while: “Spec House Sells For Two-Thirds [...]
Is now a good time to refinance? What homeowners need to understand about current interest rates to determine if refinancing is worth it. Interest rates have dropped, which is supposed to spur interest in buying a home and refinancing your mortgage. But I'm hearing from people who wonder if it is really worth their while [...]
What are the tax implications of joint property ownership? This reader is on their mother’s home title and wants to know how their taxes will be affected. Q: When my mother purchased her home 10 years ago she put me on the title with her. I do not live in the home. She did this [...]
Can an HOA board change the rules governing exterior structures? This reader's homeowner's association board denied a request it approved for other owners. Q: I recently purchased a single-family detached home in a 55+ community which has a pergola covering my patio. I petitioned my homeowner’s association to allow the installation of clear roof panels [...]
How to transfer utilities from seller to buyer. What happens when a buyer fails to transfer leased utilities like solar panels into their own name? Q: I’m confused about when sellers are supposed to shut off utilities and how these get transferred. I thought that typically, within a day or two post-settlement, the buyers would [...]
What happens to a house when someone dies? It depends on a number of factors like if there was money still owed on the home or a will naming an heir. Q: My husband and I refinanced my grandparents’ house because they had a reverse mortgage. My grandma had passed away and my grandpa was [...]
HOA insurance: What coverage do you need to insure your unit? This is what homeowners association insurance covers and why you need insurance for your unit. Q: Our homeowner’s association (HOA) is requiring that each owner buy insurance to insure that owner against damage caused by their unit to the common areas of the association [...]
Refinancing a HELOC loan after a divorce. This reader wants to know about refinancing a home equity line of credit to remove an ex-spouse's name. Q: I got divorced about four years ago. The deed to the house was, and is, in my name alone, and has been from the time we bought it. During [...]
Seller didn’t disclose water damage, now what? These homeowners moved in and found themselves with flooded basements from cracks, leaks and clogged drains. From time to time, we get a series of questions on the same topic. This week, everyone seems to have water on the brain. Literally. We’re running some of the questions and [...]
