Reader Question:  I am trying to learn what makes a condo warrantable vs. non-warrantable. Can you help me? Jonathan D. Monty’s Answer: The answer is that condominium, co-op and planned unit development (PUD) projects with particular attributes can be riskier than other types of development projects. The United States Department of Housing and Urban […]

Reader Question: We live in an overheated market. Home sellers are receiving multiple offers very quickly after listing and sell for more than the list price. We want to buy a home here, but we are reluctant to jump in and end up overpaying. What, if anything, can we do to avoid this situation? John […]

Reader Question: Is it legal for a real estate agent to work with the seller and the buyer and if it is, then get both commissions? Jonie P. Monty’s Answer: It is legal for a real estate agent to work with both a buyer and a seller. Real estate law in every state says that […]

  Reader Question: My mother-in-law would like to do a rent-to-own agreement on a house she currently owns with my husband and me. The house is free and clear, and she wants to help us out. We would like to buy the house in about two years. What are both parties’ legal obligations in a […]

  Reader Question: We are interested in a home that has a shared driveway. I cannot think of any pro, except maybe the shared cost to maintain. What are the cons to worry about with a shared driveway? Thanks! Chris Z. Monty’s Answer: Shared driveways are fairly common. Most often, there are written rules that […]

Reader Question: Are “get rich in real estate” classes worth the money? We are interested in learning more about real estate. At some point, we may want to do some investing. There seem to be many options; classroom, seminars, online, DVD packages and more. The common threads with many of these offerings promote the concept of becoming […]

  Reader Question: We recently submitted an offer on a home. The seller’s agent wanted a forty-eight-hour extension to allow the seller’s agent time to discuss our loan with our loan officer before extending a counter offer. Even though we have our pre-qualification letter for the specified amount. Is this common? Our agent assures us […]

Reader Question: Where is one to invest in this market inclusive of the banks shadow inventory. A good example is Clarksville Tn. which appears to be an excellent opportunity, however if you consider Housing and Urban Development (HUD) unoccupied housing information, it paints a very different picture. Monty’s Answer: Unoccupied housing is a serious problem […]

Reader Question: We are a novice homebuyer. We are also young and uninformed. Our agent is my aunt who was pregnant and due at any time. I found a house I really liked, but she couldn’t show it because of her condition. I had the agent from the office that had the house listed show […]

Reader Question: We are interested in a foreclosed country home with a septic tank. Our agent wants us to do the research “on our own” as she knows little about septic systems. There is no seller we can ask about the septic tank. We want to make an offer, but this concerns us because we […]

Reader Question: We are first-time homebuyers. There is a ton of information available, but it feels conflicting and confusing. We want this to be a fun and exciting time in our lives, but we need some advice. Can you share your thoughts about how we should go about buying our first home? John and Terrie […]

Reader Question: We have been looking at homes with a real estate agent friend. We saw one we like and asked her what is it worth. She told us she couldn’t offer an opinion on anything but the listed price. She explained agency, but it did not make sense to us. What can you tell […]

Reader Question: Monty, we have good jobs and our employment appears solid, so we want to buy a home. This may seem like a silly question to you, but here it is: How does real estate work? We have read a number of articles, but this appears to be an elusive subject. What can you […]

Reader Question: We just sold our home after struggling in the market. We never realized when we bought the house we had a built-in “objection” (food plant a couple of blocks away discharged an odor). We will buy another home and wondering if there are other “objections” to be alert for after missing it in […]

Reader Question: Four long time friends want to make some real estate investments together. Our investment goals are similar; we are each high-income professionals, share similar risk tolerance and see real estate as a long-term investment opportunity. We have identified a 60-unit apartment building we are interested in pursuing. We wonder if there is some […]