Home Sale Tax Exclusion: Residency Requirements What does the IRS really say about the home sale tax exclusion? Q: I read your column regularly and now I have a question for you. We own two houses. One is in Chicago, which we purchased in 2010. The other is in Arizona, which we purchased in 2012. We [...]
Home Inspections: Mold A home buyer found mold in a foreclosed condo. Later, the ceiling fell in. Q: I was given your article on home inspections. The most important thing was not mentioned in your article! If you think something may be wrong, it probably is! In 2011, an agent who works with the Veteran’s [...]
Home Inspection Uncovers Serious Issue Q: We signed a contract to purchase a home. It seemed to have an issue with moisture in the crawl space. So, we had a home inspection. The inspector couldn’t gain access to the crawl space as the access was too small and he was too big. He noted in [...]
Selling a Home in an Irrevocable Trust Q: I read your article on living trusts recently. You detail the workings of property in a revocable trust and what one should do with the funds upon the sale of the property. Would the same things apply to an irrevocable trust? I am the creator of a [...]
Will Closing Credit Cards Hurt My Credit Score? Q: I am looking to buy a home in the near future. I recently heard that my credit card with a big box discount store would come to an end. I signed up for a credit card with the big box store years ago to get a [...]
Zoning: Selling Separate Lots Q: We bought our home in 1984. The deed read that the home was built on one of two separate lots. We are now thinking about moving. In considering our options, we realized the property values in our neighborhood have increased dramatically. In fact, they’re so high that we’re thinking of [...]
Home Sale Tax Exclusion: What are the rules? Q: I learned something new in your recent article about the home sale tax exclusion. I did not know that a person could receive the benefit of the Internal Revenue Service (IRS) rule that allows homeowners to exclude from federal taxes the first $250,000 in profits from [...]
Homeowner Association (HOA) and Owners Bad Behavior Our recent articles about homeowner associations (HOAs) have stirred many readers to write to us about why people don’t want to volunteer for HOA boards and the difficult situations sitting HOA members face every day. If you're wondering what that might look like, here’s one email we recently [...]
Who Do You Call When the Landlord Won't Fix Things? Ten-year resident says landlord won't fix things like leaks, mold and pest infestations. Q: My son and his wife live in an apartment complex in Orlando. He’s been a resident there for over ten years and has always been a good tenant. The ownership has [...]
Real Estate Commission: How Much Should Buyers Agree to Pay Q: First time home buyer here. I'm thinking about commissions. I just finished reading your 100 Questions Every First-Time Home Buyer Should Ask book, and I sure took lots of notes! It’s super fun when real estate commission rules change as you are learning them. [...]
