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 [...]
Can a home Buyer sue these sellers for leaving their stuff behind? Despite their best efforts to reschedule the closing date and complete a quick move, the sellers left some valuables in the house. Now they’re worried the buyers will sue them. Q: The buyer for our home insisted on a closing date that was [...]
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 [...]
What’s the best way to transfer a home title to a family member who’s been living in the home? Hint: A quitclaim deed may not be sufficient enough. Q: Hi Ilyce and Sam! I have been a weekly reader and sometimes a daily reader of your column ever since you took over Robert Bruss's column [...]
Home buyers are out in force. Sellers are scarce. The number of homes for sale on the market is as low as it was more than twenty years ago. As a result of supply and demand, half of all housing markets are overvalued in terms of price. The median home price in San Francisco is [...]
When you get a low appraisal in a hot real real estate market, it could kill your deal. But there are a few things you can do before having to lower the list price or kill the deal. Q: I heard Ilyce recently on WBEZ radio. I'm moving to Chicago from Minnesota and was blown [...]
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 [...]
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 [...]
Estate planning and capital gains taxes: What you need to know before selling high value property that could be inherited. Q: My parents are elderly and live in Virginia. They own a rental house in California. Since they bought it, the home has increased greatly in value to about $1 million. They are trying to [...]
