Edith Lank / Home & Consumer

House Calls: Cost Basis for TV

Dear Edith: We have owned a vacation home for almost 30 years. It has always been used personally, never rented. We recently placed it on the market. My question concerns treatment of potential capital gains.

The house is fully furnished and ...

House Calls: Three-Day Visit

Dear Ms. Lank: We are moving out of state for new jobs and we're ready to buy our first house. The problem is we need to stay at our jobs till the last minute and don't have much time for house hunting. If you have any advice about buying a house ...

House Calls: Seller Made Concessions

Dear Ms. Lank: I sold my house by contributing to the buyer's down payment for a mortgage. I realized that the next would-be buyer might not be able to get a mortgage to buy the house even though the price had been dropped. So rather than drop the...

House Calls: Is a Sign Required?

Dear Edith: Our daughter is getting married late in September and we'll be empty nesters. We'd like to sell our big house soon and get into some senior housing before winter. The problem is, we will be having lots of relatives here. It would cause...

House Calls: Tenant Proposes a Deal

Dear Edith: I own a townhouse, which I am still paying a mortgage on. I lease the home with a monthly rent that covers the mortgage, insurance, taxes and repairs, with little to no profit. The current tenant is interested in doing a rent-to-own ...

House Calls: When In Doubt, Disclose

Dear Edith: Ten years ago, I legally added a 600-square-foot addition to my suburban home. I obtained all the necessary permits. However, we failed the final inspection due to some loose outlet wall plates. It only took me a few seconds to tighten...