What you need to know about being a condo owner: from the condominium association to voting on assessments, what’s expected of the owners? Q: As a new condo owner for last two years, I have enjoyed your recent column in our newspaper on condominium issues. I own a small condominium in a mid-sized building in [...]
What you need to know about student loans and mortgage pre-approval. Your loans and credit history play a large role in how much you’ll be approved for. Q: I have been enjoying your videos on YouTube and had a question about a pre-approval. My wife and I intend to try and get pre-approved for a [...]
What’s the best way to divide inherited property? A little property value homework can help you decide the best option for your family. Q: How do I divide a real estate inheritance? An uncle died and named me the executor of his estate. I didn’t think he had much in the way or money or [...]
Speeding up the short sale process: Is it possible? The answer depends on the lender, the seller, and the real estate market. Q: I’ve been reading a lot of your columns about short sales. Why do short sales take so long to complete? How can I make the short sale process go faster? A: Short [...]
How long do you need to keep a property purchased with a 1031 exchange? Timing is everything when navigating this type of sale. Q: Several years ago you gave me valuable information on a 1031 exchange. Now I need information on how long I have to keep the properties I purchased with my 1031 exchange [...]
You may wonder why you need to get a land survey when buying property. The answer is simple: You should always get what you pay for. A few weeks ago, a reader asked if he was entitled to extra compensation from the seller because he found out that the seller had sold a piece of [...]
This reader wants to know how condo assessments are determined because they don’t think their building developer got the ownership percentage split right. Q: Our building has six units, all the same size and layout. It is located in Illinois. The assessment percentage was designated by the builder and laid out in the declaration of [...]
Are transfer on death (TOD) deeds smart? This reader wants to know if it’s a safe way to avoid costly probate for children after their death. Q: I am thinking of doing a transfer upon death (TOD) deed to avoid costly probate for my children. Is this wise and safe to do? Would my heirs [...]
If the mortgage wasn’t closed properly when you sold your home, what can you do? Some legwork is required to get the answers you need from the mortgage company. Q: I sold my home three years ago but the mortgage company says that I still owe money on the mortgage. I told them the loan [...]
Is renting or home buying right for you in retirement? The answer depends on both your financial situation and your health. We recently received a couple of questions dealing with couples who are in their sixties, seventies and eighties that are planning to move and wonder whether they should buy or rent their next home. [...]
