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Resnick, Tom

Condo buyers must be given association's financial documents

By Tom Resnick
Jan 17, 2020 6:00 AM - When selling a condominium, the provisions of the Illinois Condominium Property Act dictates that certain financial documents shall be furnished by seller to the buyer, including, but not limited to, a copy of the association's declaration, bylaws, rules and regulations, anticipated capital expenditures and financial and budget statements.
Seller keeps rent deposit from new building owner

By Tom Resnick
Nov 29, 2019 6:00 AM - Q: My husband and I purchased a six-flat a few months ago. This was our first purchase of an investment property. Everything was going along fine until one of our tenants told us he was moving out at the end of November. No problem with that except he asked us when he would be receiving his security deposit back.
Roof leak on porch could become legal problem

By Tom Resnick
Oct 26, 2019 6:00 AM - Q: My wife and I purchased our first home a few months ago. Over the past few weeks, we have experienced the roof leaking on our screened-in porch when it rains. Do we have any kind of case against the seller or the inspector?
Two sons disagree over ownership of late father's home

By Tom Resnick
Sep 27, 2019 6:00 AM - Q. My father was very ill for some time and a few months ago he had a lawyer prepare and record a quitclaim deed, giving his house to me. My dad passed away a few weeks ago. My brother now says the house was in a trust. He believes we each own 50% of the house and if I want to live there, I will have to either buy him out or pay him some rent.
Taxpayer can file a claim for missed homeowners exemption

By Tom Resnick
Aug 23, 2019 6:00 AM - Q. My wife and I purchased our first home about three years ago. A friend was looking at my current real estate tax bill and noticed I was not receiving the homeowners exemption. Is there anything we can do to recoup this money?
Radon levels in dispute but sellers are broke

By Tom Resnick
Jul 29, 2019 12:44 AM - Sellers were asked to mitigate high radon levels, but the system they installed appears to be faulty.
Selling 'as is' puts more responsibility on buyer

By Tom Resnick
Jun 7, 2019 6:00 AM - Q. My brother and I will sell my mother's home shortly and we have one major concern. Neither of us has been to the house much over the past few years and we are concerned about its condition.
Exes can work together to refinance home

By Tom Resnick
May 3, 2019 6:00 AM - Q. My husband and I divorced about four years ago. Part of the settlement was that I got to stay in our house with our kids until the youngest graduated high school in four years. I think we could probably qualify for a loan with a lower interest rate. Do I need his permission to refinance?
Landlord not part of roommate agreement

By Tom Resnick
Apr 5, 2019 6:00 AM - Q. Last fall, I was living with two other guys in a condo we rented. After a few months, I got a job transfer and had to leave the state. I was just served with a lawsuit. The other guys moved out with about six months left on the lease.
Did buyers do anything shady to back out of deal?

By Tom Resnick
Mar 15, 2019 6:00 AM - Q. A couple months ago, my husband and I sold our house and purchased another, contingent on our sale going through. Our buyers twice requested to extend their financing contingency and then ultimately sent us notice that they could not qualify for a loan and demanded their deposit back.

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