Why do you need to shop for your mortgage lender? Whether you have reservations or the rate feels too high, shopping around will help get you a better deal. Q: I applied with my daughter for pre-approval on a loan with a mortgage company. I applied several months ago and the lender never notified me [...]
How to fix an error on your home deed: Even if the home deed error seems minimal, spend time to correct the error quickly. Q: My deed contains an error. Instead of one of the property lines being described as running "south westerly 146 feet,” it reads "south easterly 146 feet." For purposes of selling [...]
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 [...]
