10 Tips for Real Estate Auctions

shutterstock_92578045

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...]

Unscheduled Home Repairs: Are You Financially Prepared?

plumber-fixing1-300x200_full

By Michele Lerner   No matter how well you maintain your home, it's inevitable that eventually either age or a manmade or natural disaster will damage some part of your property. Whether you need to pay for something as simple as replacing your water heater or as a monumental as installing an entirely new roof, your wallet will be impacted. Developing a plan to be prepared for these financial disasters can minimize the damage.   Financial experts recommend that homeowners set aside from one to three percent of their home value every year to pay for routine maintenance and as a reserve fund for an emergency repair. For a $300,000 home, that means you should have savings of $3,000 to $9,000 that you can access for home projects. You can estimate how much you may need … [Read more...]

Disclaimer: This content is not provided or commissioned by a credit card issuer. Opinions expressed here are the author's alone, not those of a credit card issuer, and have not been reviewed, approved or otherwise endorsed by a credit card issuer. This site may be compensated by credit card issuers mentioned on the site by such companies.