Real estate is always on my mind and in this article, I take a look at the current state of the US real estate market and what factors may be contributing to odd selling behaviors in certain markets. As we drove around the North Shore of Chicago this weekend, home to some of the most [...]
Old mortgages that have not been properly discharged might derail a home sale. What steps can they take to have the lender recognize the mortgage has been discharged? Q: I’m trying to sell my home and recently found out there is an old mortgage on the property from 20 years ago. The loan was never [...]
Tax liens can hang around, even after you file for bankruptcy. Here’s what you need to know to avoid issues post-bankruptcy. Q: I recently sold a property that had a tax lien on it along with a few other "things from the past." I had a wildly successful business for eleven years that failed after [...]
Is a home seller on the line for fulfilling inspector recommendations? They just might be if they really want the sale to go through. Q: My agent is insisting that I hire a licensed, bonded contractor to pump water from my crawl space. The inspector "recommends" this. I didn't have a license bonded contractor do [...]
Is now the right time to sell your rental property? We may be in a seller’s market, but that doesn’t mean you’ll get the most bang for your rental property buck. Q: As always, you give us a lot of good real estate information in your columns. Here's a question regarding my rental home in [...]
Can you sell a tax sale property back to the city? Probably not. But here are a few tips to make the most of your investment. Q: My son bid on a property at a tax sale in Philadelphia back in 2010. He found out after he bought it that the property had no value [...]
How the new tax law affects retired homeowners will vary greatly depending on the state the homeowner lives. These are the basic rules retirees need to know before buying or selling. Q: I am a regular reader of your column for many many years. I am a senior, widowed and have some retirement income and [...]
Selling your home when the property value is less than what you owe on the mortgage can be difficult. Here’s what I suggest. Q: We have a mortgage that has been sold several times over the years. We have recently obtained a copy of the mortgage from our lender. I’m trying to find a reasonable [...]
When you’re selling a two-family home, your “cost basis” will determine the taxes you owe. Q: I am in the process of selling my two-family home I have owned it since 1997. I have done major repairs on the tenant’s apartment and am wondering how do I figure out the amount of the tax I’ll [...]
It’s important to have a property title in place before you can sell, even if it means hunting down or replacing lost documents. Q: We purchased our property (2.4 acres) about 20 years ago. The main house is a mobile home on a cement foundation. During the process of selling our property, we discovered that [...]
