It's heartbreaking when we hear stories of homebuyers falling victim to wire transfer fraud. Here are some ways to protect yourself. Q: Thank you for your article in the Chicago Tribune on wire transfer instruction. Three weeks ago we were given wire instructions by our escrow company and had no reason to believe that they [...]
Foreclosure can be a difficult financial hurdle to overcome, but buying a house in your child's name might not be the wisest solution. Q: It's been a year since my foreclosure, I'm renting now but the rent is high in Chicago where I live. If I bought another house and got a mortgage it would [...]
This week, online real estate company Redfin published the astonishing results of a survey. The survey found that 41 percent of millennial home buyers purchased real estate sight unseen. About one-third of all home buyers purchased property sight unseen. If those numbers are true (and we have no reason to doubt Refin’s survey methods), it’s [...]
Seller disclosure laws don't cover every issue you find with a house after you buy it. If a homeseller isn't aware of an issue when they sell, the homebuyer likely can't take legal action. Q: We purchased a home and farm equipment on approximately 20 acres in rural Georgia this past January. The owners told [...]
How do you respond when you discover an issue with your home that the seller misrepresented? In the case of this homeowner, the seller may have misrepresented the condition the roof was in when they sold the home. Q: I read your recent article about the buyers who bought a home and subsequently found out [...]
When it comes to finding a real estate agent, you want to make sure you hire the right person who will best represent your interests as a homebuyer. Q: I bought your book 100 Questions Every First-Time Homebuyer Should Ask, and read it from cover to cover. Your book helped me tremendously, and I want [...]
Wondering what threats await real estate this year (and in the future)? Scott Muldavin, Chair of the Counselors of Real Estate (CRE), ran down his annual list at this year's National Association of Real Estate Editors (NAREE) conference, in Denver. This story features the first 5 threats to real estate. Real Estate Threat #1 - [...]
Many homeowners ask if they should buy a new house before they sell their current home. Most people can't afford to own two homes at once, but there are many variables - such as your financial situation and housing needs - that can affect this answer. Q: I'm wondering if I should buy a new house before [...]
There are better and worse states to buy a home, much of which has to do with price. First-time homebuyers have a hard time competing in the real estate market, but looking in the right state can make buying your first home much easier. According to a recent study from Bankrate, first-time homebuyers looking for [...]
If you own a home, you're probably thinking about the top tax benefits of homeownership. But you may not know how your single biggest asset (your home) can help you save on your tax bill. You probably already know that your biggest asset could also help you save on your taxes. It's the "how" that's [...]
