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Author: Monty

  • Will a geothermal system increase the value of my home?

    Reader Question: Would a geothermal system installed at my home increase the value? I don’t want to sell, but before I have this expense, what it will do to the value of my house? Monty’s Answer: There is a considerable amount of information that is required to assess individual property accurately. As with any high-cost…

  • Real estate owners die with no will

      Reader Question: My grandparents chose to die with no will. All their children passed except three sisters. My mother and several siblings passed. One of the grandchildren has been paying taxes for years, and another has been paying electricity. Do these three sisters have the right to sell timber and leave the grandchildren out?…

  • Neighbor’s waterfall is destroying our fence

      Reader Question: We bought a home a year ago built in the 80s. A problem has surfaced with the back block fence. The neighbors have a water feature and waterfall that abuts their side of the wall. The neighbor’s waterfall is destroying our fence. The soil on our side of the wall is continually…

  • 15 tips to find a buried fuel oil tank

    Reader Question: We are considering a home in a rural area. Much of the housing stock consists of 1920-30’s homes. How can we determine if there is a buried fuel oil tank somewhere on the property? Monty’s Answer: According to the US Energy Information Administration (EIA), 5.7 million homes heat with fuel oil today in…

  • Pros and Cons of Buying from the Listing Agent

    Reader Question: I have found a home, and I want to make an offer. There are stories about why and why not it is a good idea to use the listing agent. What are the pros and cons of going directly to the listing agent to make an offer? Monty’s Answer: Some homebuyers never realize…

  • Home improvements can create an unintended consequence

    Reader Question: I blacktopped my driveway and turnaround area to my garage. My house was for sale, and several people objected to the gravel drive. The house went under contract as soon as the work was completed. It looked great, and the buyers loved it. No issues. A month after closing the new owners contacted…

  • Buyers unknowingly paid $20K more than the appraisal. Who should have warned them?

      Reader Question: They paid $20K more for the property than it was worth. My daughter and her husband purchased a home for $145,000 and found out a few weeks later, the appraisal was only $125,000. Neither their agent nor the lender advised them of it. Who should have? Monty’s Answer: There are several considerations…

  • You can’t fight city hall – or can you?

    Reader Question: Can we fight city hall? We live in a 75 lot development completed in the early nineties. We do not have an HOA. Our problem is we are on our own for upkeep and repair to communal areas. We have garage sales and take up collections and pitch in when the need arises.…

  • My real estate taxes doubled. Is this legal?

      Reader Question: My real estate taxes went up over 100% this year. Is it legal to raise taxes so high in one year? Monty’s Answer: For real estate taxes to double in one year would be extremely rare. One has to wonder if any community in the United States has ever experienced such a…

  • Not Knowing Your Property Line When Buying a Home Can Be Expensive

    Reader Question: I recently had my lot surveyed, and it turns out one neighbor’s fence is three feet over my property line, butted up against the back of my garage. The neighbor to the side has a fence that is about five feet inside their property line. I have someone cut my grass and don’t…

  • Marital Property Law vs. Common Law: a Financial Factor in Real Estate

    Reader Question: My name is not on the deed of our home. My spouse put the house up for sale after 22 years. Am I entitled to half the profits of the deal? Monty’s Answer: Ten states embrace marital property law. During a marriage in these states, all assets and debts acquired are “community property.”…

  • All real estate referrals require due diligence

    Reader Question: We sold our home and moved to a different state. Our old agent helped us find an agent in our new city. We have gotten to know this agent and become friends. He told us our former agent made the connection for a fee. He called it a referral fee. Our old agent…

  • Avoiding bombshells over permits when remodeling, buying, or selling a home

    Reader Question: Back in 2001-2002, we remodeled our home without a permit. We didn’t know it was required. Now we want to sell, and the question is on the seller condition report. Is there any way to overcome that issue now? Monty’s Answer: Permits can be a challenge for several reasons; ordinances change over time,…

  • Investing In Blacktopping Can Be Tricky

    Reader Question: We are not selling our home anytime in the foreseeable future. We are wondering how much the value of our property will increase if we invest in blacktopping our gravel driveway? Monty’s Answer: Blacktopping your driveway may or may not increase the value of your property. Because certain variables impact the desired outcome,…

  • Protect Yourself When a Tenant Dies In Your Building

    Reader Question: We own a 24-unit apartment building. We have an eighty-eight-year-old tenant with no next of kin according to him. When he passes on, what are we to do with his belongings? He has nothing of any value; his biggest asset is a twenty-year-old car. Whom do we notify? He seems healthy and active…