If I pay back taxes on a property do I own it? This reader wants to know how the system works and if he becomes the property owner when he pays back taxes. Q: If I pay the back taxes on a property do I own it? My parents are about to lose our family [...]
What are the terms under which your professional home inspector is inspecting the house you want to buy? Liability caps on home inspections aren't wrong, but good home inspectors should disclose this information before they're paid. Q: I was buying a house and hired a home inspector. We went through the whole inspection and I [...]
When is it a mistake to refinance your mortgage? Only if you don't know this mortgage secret: Your amortization schedule will "reset" each time you refinance your mortgage, unless you opt to refinance at a lower rate for a shorter term length. In this case, your monthly mortgage payment tends to rise, however. Q: Did [...]
When transferring rental property to your child, is it better to sell it to them or leave it to them in a will? Both ways have their advantages and disadvantages. Q: First, I always enjoy reading your advice column in the Torrance CA Daily Breeze home guide magazine. Your article today, "Selling a rental property [...]
How easy is it to finance vacant land? And, is it easier to finance vacant land if you're going to build a hour or a commercial-use property on the land within the first six months of owning it? Unfortunately, it's tough to finance vacant land and if you plan to live and work on the [...]
How can you avoid paying taxes when selling a rental property to a child? You could try an installment sale. Q: We have a rental property that we would like to sell to our son and his wife. The problem is that we have not lived in the house as our primary residence for the [...]
Are we now living in a Landlord Nation? If you look at who owns rental property in America, you might think that more people are renting than are owners, although that isn't the case. In addition to our primary residence, we own one and a half rental properties. That is, we own one by ourselves [...]
Ilyce appeared on WGN's Steve Cochran Show in Chicago recently, and was inundated by listeners who wanted to know how to appeal their property taxes. Here are three steps you shouldn't miss if you want to successfully appeal your property taxes. Q: I heard Ilyce on the radio recently talking about how to lower your property [...]
Are you moving this month? You're not alone. According to Census figures, approximately 1 in 9 people move every year, or about 40 million Americans. More people move in May than in any other month, according to industry experts. Whether you're moving into a condo or moving into a rental, you'll want to make sure [...]
What is a successor trustee? And, can she live abroad? We get questions like these fairly frequently, as immigrants to the United States often try to buy a home as quickly as possible. But, they may not have anyone living in the United States who they trust to take care of their wishes. Q: My [...]
