What to do when your home is overvalued by your homeowner’s insurance company. Hint: You may want to consider changing companies. Q: Every year, I get a renewal notice from my homeowner's insurance company and it indicates the value of my home. The insurance company lists my residence value at over $700,000. I understand that [...]
What you need to know about paying taxes on a home sold after a spouse’s death. Q: Just finished your awesome article on computing tax due on the sale of the primary home when a spouse passes. I just had a quick question. Let’s say a spouse passes on March 01, 2017. The first thought [...]
Do you need to renovate an old inherited home before selling? The first step to deciding involves speaking with a local real estate broker to lay down the numbers. Q: Our sister recently passed away leaving the family home that mom left her six years ago. She had no will and left outstanding debts as [...]
These are the 4 personal finance resolutions you need to make ahead of a potential recession in 2019. Putting them to work now can help your financial foundation in the future. Here’s something we haven’t heard in a long time: whispers of a looming recession. And those in the know think it could start in [...]
What you need to know about buying a home in 2019. From low housing inventory to mortgage rate hikes, let these four tips be your guide. In the twenty-five years or so that we’ve been writing this column, we’ve started each new year with a look back at the year that was (in this case, [...]
How do you know when your real estate investor is giving you a good deal? In this reader’s case, research and trusting their instincts are a must. Q: I’m in the process of selling my home fast to an investor. The settlement is soon. I chose this way of selling to avoid showing my home. [...]
How is my homeowner's insurance premium determined? Homeowners Insurance pricing is complicated making it difficult to choose the best policy. Q: We put in a bid on a 1920s home in the Chicago area for $275,000. I called my insurance company to get a quote and they told me it would cost around $1,800 a [...]
How do you navigate new rental rules from your condo association and is it possible to be grandfathered into the old rules? Q: We are buying a vacation condo which we plan to use in the winter months, but also hoped to rent it in other months. We just learned that the condo association has [...]
What can you do when you discover an old oil tank leak on your recently purchased property? Your options may be limited, especially with the title company. Q: I bought an investment property located on the edge of a river. Apparently, years ago, a nearby oil tank leaked. The tank was not disclosed in the [...]
Making the most out of the sale of an underwater investment property can be difficult, especially in a competitive housing market. Here’s how to get started. Q: I bought a home as an investment for $450,000 with several partners back in 2006. We intended to buy it, knock it down and redevelop the property. That [...]
