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jefmafnl

Thanks to all. The amount of the earnest money is relatively trivial in this case. It gets returned to the buyer in 2 years, unless either buyer and seller agree on a division of the earnest money, or a court order determines what happens to the earnest money. Perhaps the situation is somewhat compl...

jefmafnl

Thanks!!!

jefmafnl

Thanks to all. We do not anticipate that seller will sign release of the escrow deposit. The text messages and e-mails are on my iMac (2011 vintage, likely to die soon) running macOS High Sierra 10.13.6. I'm not sure where they are stored in the file system...what's the easiest way to find them so t...

jefmafnl

We did not complete our intended purchase of a condo, due to the seller's not meeting his or her obligations before closing. He or she may be litigious. We have pdf files of the contract and addenda. However, lots of important info on the property was sent to us by our realtor via text message, and ...

jefmafnl

My wife and I are purchasing a condominium.

The title insurance company needs to know whether we would like a General Warranty Deed or a General Warranty Deed with survivorship.

When one of us dies, what are the practical consequences of each of these choices?

Thanks!

J and M

jefmafnl

Thanks to all who replied. FEMA map shows something like "Minimal Flood Risk." Realtor.com shows 1 on a scale of 1 to 10, from a site called "Flood Factor," and "MassiveCert estimates that this property is in FEMA Zone X, which means that flood insurance is recommended, but ...

jefmafnl

Regarding risk of flooding, the condominium that we are buying has a rating of 1 (on a scale of 1 to 10, 10 being the greatest risk) from FEMA.

How do we decide whether to purchase flood insurance?

Thanks!

J and M

jefmafnl

We are relocating from Europe back to the U.S., and thus do not presently have insurance through U.S. insurers. We just signed a purchase agreement on a condo. Since we are paying cash, the closing is fairly soon. For ratings of insurance companies, with respect to condo insurance and umbrella insur...

jefmafnl

We just signed a purchase agreement on a condo.

Since we are paying cash, the closing is soon.

For ratings of insurance companies, for condo insurance and umbrella insurance, are there any reliable sites other than Consumer Reports and perhaps U.S. News and World Report?

Thanks!

J and M

jefmafnl

We will be relocating from Europe to the U.S. We are considering buying a condo in Indian Hills (Akron, Ohio) on the basis of a virtual tour (Zoom) with our trusted real estate agent. If anyone lives there, or has lived there in the past 10 years, or lives in the area and knows these condos well, I ...

jefmafnl

We will be relocating to the U.S. to buy a condo, probably with cash. We would like to use our savings bonds as part of the payment. Most of the bonds are in my name "or" my wife's. Some are the other way around. My wife will probably be flying to the U.S. to look at the condo. It would be...

jefmafnl

We are about to relocate from Europe back to the U.S., and are considering buying a condo in Akron, Ohio. Thanks, ddouble u, for all your helpful and specific suggestions (4th post at top of this thread) to another Boglehead back in 2014. Question for anyone reading: is the vital financial informati...

jefmafnl

My mother has dementia, and my brother is going through her papers. He discovered 2 life insurance policies on my father, who died in 2002. One of them was National Service Life Insurance, and we don't know whether she notified them at the time so as to receive the payment. If she did not, would it ...

jefmafnl

Thanks, Duckie. I will start there.

J

jefmafnl

Thanks.

To find "Medigap brokers"...any suggestions, other than searching on the Internet?

J

jefmafnl

My wife and I (U.S. citizens) are planning to relocate back to the U.S. after more than 26 years in Europe. But with the current challenges posed by the pandemic, we have postponed our move, originally planned for this month. We have passed the age of 65, but we were covered under a health insurance...

jefmafnl

Thanks to all who replied!

mgensler, if I may ask, which part of Florida is that?

J

jefmafnl

I recently retired (my wife took early retirement several years ago), and we are planning to move back to the U.S. soon, after 26 years of living in Europe. We are interested in buying a condominium. My wife's closest friend and her husband just bought a condo in Venice, Florida, and we would like t...

jefmafnl

I recently retired (my wife took early retirement several years ago), and we are planning to move back to the U.S. soon, after 26 years of living in Europe. We are interested in buying a condominium, either in Ohio or in Florida. I read parts of Dan S. Barnabic's "The Condo Bible for Americans,...

jefmafnl

Thanks.

But selling only bonds would give us an asset allocation in our "retirement accounts" that is much heavier in equities than what we have now.
Shouldn't we sell both stocks and bonds so as to keep our current allocation?

J

jefmafnl

I recently retired; my wife retired earlier. We are planning to move from Europe, where we have lived for 26 years, to Akron, Ohio within the next 6 months, buying a condominium there. The market there is very tight, so one must be pre-approved for a mortgage, and it’s not easy to get approved for a...

jefmafnl

Thanks for the replies. the researcher, We have maintained a checking account and a credit card (from a different bank) in the U.S. We checked with the 3 big credit rating agencies a few months ago and all of them had records and ratings for us. ResearchMed, We could, if necessary, transfer more tha...

jefmafnl

Thanks for responding.

We have been filing US tax returns, but most of the foreign income on those returns was salary. The substantial pension payments are just starting now.

J

jefmafnl

I recently retired, and my wife and I would like to relocate back to the U.S. after 26 years in Europe. Aside from regular withdrawals from investments, most of our regular income is from European pensions and European social security, denominated in Euros. We are working with a major U.S. realtor. ...

jefmafnl

After 26 years living in Europe, I am retiring, and we will be moving back to the U.S. in the next few months. (Income taxes here are very high.) We would like to buy a condo in Akron, Ohio, and are working with a real estate agent whom we trust, who works for a major company. However, at the moment...

jefmafnl

Thanks to all who replied. Not asking about the order...just about whether we need to have funds for the purchase in the settlement account ahead of time.

J

jefmafnl

Thanks to all who replied. Not asking about the order...just about whether we need to have funds for the purchase in the settlement account ahead of time.

J

jefmafnl

With our Vanguard Brokerage account: If we want to buy a non-Vanguard ETF for $2000 and on the same day sell a non-Vanguard ETF for $6000, do we need to have $2000 in our settlement account before placing the orders? Or do the proceeds from the sale cover the purchase?

Thanks!

J

jefmafnl

We have harvested capital losses this year (less than $3K). As I am retiring in a few days, we need to start selling some funds from our taxable account each month to help pay for expenses. Also, this year reducing the capital loss saves us the amount of our tax bracket (22%), and we would have to p...

jefmafnl

My Mom (95) lives in the dementia section of a residential living facility. One of the companies that supplies private caregivers is asking her (my brother and me, as POA) to sign a Covid-19 Liability Waiver Agreement, wherein Client to assume all risks other than gross negligence by the Agency, not...

jefmafnl

...WITHOUT giving out e-mail and other personal information?

Thanks!

J

jefmafnl

Thanks to all who replied.

Neither of us lives within driving distance, so we want to do as much research as possible before a possible "site visit."

J

jefmafnl

My brother and I need to find a contractor to do some work on my Mom's house. She is 94 and lives in an area where we have never lived. The work is a result of water damage. Her insurance company has recommended some contractors. Other than Yelp, Angie's List, and the Better Business Bureau: any oth...

jefmafnl

In dealing with my Mom's finances, together with my brother, I sometimes need to send document that include Soc. Sec. numbers or other confidential information, so I would like to password-protect them. Unfortunately this isn't possible with the free version of Adobe Acrobat. I would like something ...

jefmafnl

I will retire in August at age 66. (Spouse, already retired, will be 72). At that point we will be withdrawing on a regular basis from our accounts. Our asset allocation for the last few years has been 40/60. We have usually rebalanced when it gets out of whack by more than 5% of the total. Let's sa...

jefmafnl

Mom (94) has an AIG Annuity paying 3%. My brother and I have POA for her. It's at or close to maturity. There are 3 options: 1 Extend maturity. 2 Surrender contract and receive account value in lump sum distribution. 3 Annuitize (but they don't show what the payouts would be) 3% is a decent return t...

jefmafnl

Sport,
this may vary from one condo development to another.

In this case, HOA’s insurance pays only to repair the plumbing. Individual unit owner’s insurance pays for damages.

J

jefmafnl

Many thanks!

J

jefmafnl

Due to a burst pipe, there is extensive water damage in my mother's condominium unit. (She is 94.) According to a clause in her Condo Insurance: If a mortgagee is named in this policy, any loss payable under Coverage A [building property, as opposed to personal property] shall be paid to the mortgag...

jefmafnl

Thanks to all who replied.

We are going to try to add a manual shutoff valve in a more accessible place. And then perhaps add an automatic detection system.
We don't live in an area with harsh winters.

J

jefmafnl

Tech Hive recommends Phyn Plus, or (2nd choice) Flo by Moen, as "Whole Home" (rather than 1- or 2-point) detection systems.

jefmafnl

Theoretically, insurances will cover the damage (HOA insurance for repair of the pipe, home(condo)owner's insurance for the rest.
But there's lots of inconvenience and management involved.

Haven't shopped around yet...will try to post back later with more info.

J

jefmafnl

My brother and I are managing my Mom's house (condo) long distance (she's 94). A pipe burst while she was gone for a few days, causing what appears to be major water damage. The HOA and a repair company both suggested Flo by Moen, which is a "Smart Home Water Detection system" via an app. ...

jefmafnl

Mom is 94 and in memory care in a facility. Her house (not yet sold) in Palm Desert has a burst pipe in a wall, damaging wall and carpeting. My brother and I both live far away. If anyone knows a property manager, or a contractor willing to deal with small to medium-sized repairs, in that area, coul...

jefmafnl

My brother and I are trying to advise our mother (94) about recommendations from her doctor.

What is/are your favorite site(s) for reliable information presented in a balanced way?

Thanks!

J

jefmafnl

Thanks, Bob and RM!

J

jefmafnl

Since my mother (94) is no longer living at home, but in a facility, my brother cancelled her service with Medical Alert (that's the name of the company) and returned the device. However, my Mom continues to receive notices via postal mail and e-mail every week: We have made a number of attempts to ...

jefmafnl

We have US savings bonds, both physical (paper) and virtual (at Treasury Direct (TD)), which we probably will cash in next year for a down payment on a condo. I seem to remember reading horror stories on this site a few years ago, about taking paper bonds to the bank, the bank sending them to the Tr...

jefmafnl

We are considering buying a condominium. I understand that we would need to buy "condo insurance." Is this fire and theft on the interior and the contents?

Do we also need an umbrella liability insurance policy?

Thanks!

J

jefmafnl

Thanks. I'm aware of the penalties and plan to prove "credible coverage".

J

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