What happens to your taxes when you sell an inherited home? Depending on the state you live in, you may not have to worry. Q: My dad passed away awhile ago. He owned his home and had no mortgage. We recently sold his home for $300,000. How do I figure how much I will have [...]
Will title insurance save this homeowner from having to pay an outstanding private mortgage? It may be her only hope if she wants to transfer the home in the future. Q: My neighbor can’t transfer the title of her house to her children due to an old outstanding mortgage of $80,000 on her family home. [...]
What are the limits on a SALT deduction? After massive tax reform last year, this is the question on many homeowners’ minds. Q: When it comes to the SALT deduction, can you give me a little more information on the limits. A: In the last big tax bill that Congress passed, the law limits the [...]
A home flipping and construction expert wrote in to weigh in on a recent article on flipping homes in retirement. See what he has to say about this real estate retirement trend! Q: I read your column “Flipping homes in retirement.” I flipped two homes decades ago, and the last one in 1993. I didn't [...]
When a home inspector overlooks an asbestos problem, what can you do? And, how do you find an inspector who will actually have your best interests at heart? Q: We hired a home inspector to help us out when we were buying a home in Chicago. We received the report, reviewed it and later closed. [...]
This retired reader wants to know if it’s better to rent an apartment or buy a home with retirement savings. Q: My wife and I are retired and renting an apartment for $600 a month. I am 64 and she is 63. We want to buy an inexpensive house that costs around $50,000 to $60,000 [...]
How do you share a private road with an unruly neighbor who attempts to take control of half of the roadway? It may require a real estate attorney to get it sorted. Q: Two years after we bought our house, we discovered that the top of our street is not owned by the county. Half [...]
Thinking about flipping homes in retirement? Here’s how to get started to with your first real estate investment and make sure you put your best foot forward. Q: I read your columns regularly. My wife and I currently live in the Northern Virginia area and will be retiring soon. We plan to move to Raleigh, [...]
What documents do you need to apply for a mortgage? Here’s a list of the documents you need to apply for a mortgage. Make sure to have them handy in order to keep the mortgage loan process on track. Q: I’ve been watching Ilyce’s videos on her YouTube.com/ExpertRealEstateTips channel. Here’s my question: I am applying [...]
If you’re thinking about prepaying your mortgage loan taxes, you should think again. This move can do more harm than good. Q: If my tax payment is included in my mortgage payment, am I allowed to go to the local tax office and prepay the taxes before the due date in order to reduce my [...]
