This article originally appeared on HSH.com. The traditional idea that real estate auctions are only for bargain-basement foreclosures or million-dollar mansions has changed in recent years. These days, all types of homes are sold at auctions. No matter what type of property you buy at an auction, you need to be aware that you're purchasing "as-is, where-is," without the option of asking the seller to make repairs or wait while you sell your current home, says Fontana Fitzwilson, executive vice president of Williams, Williams and McKissick in Tulsa, Okla. "Buyers may not always get a bargain at an auction, but auction sellers are often willing to sell at or below market price in exchange for a non-negotiable, non-contingent contract from a highly … [Read more...]
