Home & Leisure

House Calls: Sharing Old Questions

Edith Lank on

Today, I'm sharing some questions I've saved over the years. I couldn't quite bear to discard them, but I never printed them. The first one came from a state prison.

1031 Exchange

Dear Edith: I have a building that I'm selling, and I stand to make $1.6 million. Could you tell me the correct way a 1031 exchange is done and whether it is exempt from taxes? -- X. X.

Answer: Consult a lawyer, and while you're at it, ask the attorney to suggest an accountant.

Occasional Leaks

Edith: Upon selling a co-op or condo in a multistory building, would it be mandatory to divulge the fact that at times there are leaks from upper floors? Thank you. -- no signature

Sponsored Video Stories from LifeZette

Answer: Yes.

Refinancing Mortgage

Ms. Lank: Is there any way that I can refinance my existing mortgage without going through a Realtor? If not, then am I correct in assuming that I would not have to pay the usual commission that a buyer's and seller's Realtors would get on the sale of the house? Will I only have to pay half a commission to my Realtor? -- X. X.

Answer: You don't need a real estate agent at all. Except as it helps with sales or rentals, real estate brokers aren't usually involved in arranging financing.


swipe to next page
Copyright 2019 Creators Syndicate Inc.


blog comments powered by Disqus

--Ads from Google--

Social Connections


Mike Du Jour A.F. Branco David M. Hitch Free Range 9 Chickweed Lane Jeff Danziger