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Buyer

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Every year, Ilyce and Sam offer their readers New Year’s resolutions for home buyers, sellers and their personal finances. These are their 2023 home seller resolutions.

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Q: My wife and I bought a house in Maryland in early July 2022. The sellers wanted to stay in the house rent free for 30 days. They put up a $2,000 security deposit. After the sellers moved out, we found they had removed a light fixture, damaged a wall while removing an art object, and hired a contractor to do tree work without our prior approval.

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The 2020s have mistreated home buyers. 2023 could mark a turning point in which the housing market gives them a fairer shake. Here are real estate trends to watch for in the coming year.Reasons for optimismThe outlook for home buyers is brighter than it has been since the beginning of the pandemic."There will be some...

Seven years ago, Phil Levin and his girlfriend, Kristen Berman, pondered a common question: Should we move in together?Levin assumed they’d take a predictable path and find a more affordable apartment outside of pricey San Francisco. But Berman, a behavioral scientist, shared her reservations about leaving their friend network – and some facts to back...

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Q: We tried to purchase two different lots in a lake community about two hours from where we live. They have a right of first refusal clause in the bylaws of the community association. We had signed contracts on both of these lots.

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Q: My daughter bought a condo several years ago. Her condo is located in a suburb of Chicago. Last summer, she was notified that the complex was going to be reconverted to rentals. She was offered a price for her place along with an extra amount if she committed to selling by a certain date.

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Q: The very competitive housing market is making it difficult for my daughter (and her partner) to win a bid for purchase. They have been pre-approved for a loan. I have ready cash. What would be the pros and cons of making a short-term loan, including tax implications, so that they can make a cash offer? And, what are the various ways we could go about it? Thank you for sharing your experience and expertise!

Q: I live in a nine-unit self-managed condominium building. Over the years, the board members rented out their units. In one year, two units sold and a third unit is up for sale. I’m concerned about the direction we’re going in. The president still rents out his unit. I’m a long-time resident. What do you think of the status of this situation?

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