| |
| |
|
Real Estate Information |
|
|
Hiring A Contractor - 10 Mistakes To Avoid
A very smart attorney I know paid $7,000 for a roof repair, only to have the roof leak the next time it rained. The contractor stalled, made excuses, but never did a thing about it. Anyone can have these kinds of problems when having repairs or improvements done, but to make it less likely, avoid the folowing mistakes when hiring a contractor. 1. Not knowing what you want. If you don't know what you want, you might not like what you get. Also, if you change your mind and change the job halfway through, the contract - and price - have changed (Hint: it won't get cheaper). Know clearly what you want done. 2. Not getting everything in writing. You don't want to hear, "I didn't say I was going to include the gutters." 3. Not having dates in the contract. Did you want it finished this year? You better have it in the contract. 4. Paying too much up front. A deposit may be a reasonable request when the contract is signed, and money for materials prior to the start date. Never pay in full before the job is finished. 5. Hiring unlicensed contractors. Actually, this can be okay, if you know what you are doing (and he does). The license doesn't mean you get expertise, but it does mean you get leverage. A contractor will right his wrongs to avoid losing that license. 6. Hiring the first one in the phone book. Ask friends who had work done, or the owner of a hardware store. Find a recommendation based on a similar job to yours. 7. Thinking there will be no problems. Weather delays, employees quitting, and more will happen. Having problems is okay, but it's not okay if the contractor can't work out the issues to your satisfaction. 8. Expecting neatness. Believe it or not, it is sometimes efficient to leave things laying where they'll next be used. There will be messes, so prepare accordingly. Cover things if it will be a dusty job, for example. Also be clear in the contract that the jobsite will be cleaned up at the end of the job. 9. Not having penalties in the contract. This is important on large jobs. It's one thing to say "Work to be completed by May 2nd," but better to add, "$100 per day to be deducted from the contract price for each day the job is unfinished beyond May 2nd." That's what I call a motivational clause. 10. Thinking contracts will prevent problems. They help, but unreasonable people on either side of a contract can ignore them, or use "literal readings" to make things even worse. Find someone you can work with, and keep your eyes open. Steve Gillman has invested in real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Sellers, Are You Having A Hard Time Selling Your Home? Sue and Chuck DeFiore have the perfect solution for you - Lease Purchasing your home!What is Lease Purchasing?A Lease Purchase is a process that combines a basic rental lease with an agreement to purchase, or with an option to purchase the property. The Buyer (or Lease-Purchaser) pays to the seller a monthly payment that usually approximates a rental amount or a typical mortgage payment on the home. A Difference Between Appraisal, Assessment, Home Inspection Every one should have a home inspection before purchasing any property, including new construction. You may think that's rediculous but there are too many cases that prove otherwise. Cant Rent a Work Zone So you've picked up your first (or third, or tenth) income property, and it's a real fixer-upper. You've got a great team of contractors, and you know what they need to do and how much time and money it's going to cost to make it happen. Selling Your Home Quickly, Even if You Have No Money For Repairs Do you need to sell your home quickly? If so, don't be tempted by the ads you see that say "We Buy Houses" or "Sell Your Ugly House in 9 days for Cash." Those types of ads are placed by real estate investors who are looking for sellers under duress, and they'll only pay up to 70% of the low end market value for your home. Investment Real Estate Secret: Buy a House Today, With No Money Down If you've read my article "Purchasing Property With No Money Down. . Home Not Selling In Todays Hot Market? Tips and Ideas to Help You Sell So, your selling your home. Prepare yourself both physically and mentally for the agony of the endless phone calls and interruptions to your daily schedule. Real Estate Investing Contracts on Toilet Paper Even if your real estate contract has been written on toilet paper, it's valid.Content of your real estate investing contract is what's important. Finding A Capable Agent To Meet Your Real Estate Needs Whether you're a first-time buyer, selling your current home or relocating to a different part of the country, the support of a qualified, knowledgeable real estate agent can alleviate many of your concerns and ensure a smooth transaction. A professional agent can market your present residence, help you locate the home of your dreams and assist in making your transfer to an unfamiliar area easier. Homes in Chapel Hill Chapel Hill is located right in the middle of North Carolina, halfway between the Blue Ridge Mountains and the Atlantic Ocean. In 2000, the nearly 20 square mile city had a population of 48,715 people and it has substantially increased over the last five years. Take A Shotgun Approach An effective real estate advertising strategy entails a 'shotgun' approach. A shotgun approach includes online internet ads, regular print ads in major real estate publications (AJC) of the property's location, as well as popular local area publications (Creative Loafing) and full use of real estate signs. Basic Tips for First Time Home Buyers Choosing a first home can be a daunting task, but following a few key steps makes it a lot less confusing.An essential part of the process for every home buyer is to simply do the math. The New First Impression in Home Selling As an ASP Home Stager I know how important curb appeal can be in making that critical first impression when selling your home. However, with the growth of real estate advertising over the web, there is another first impression that you should consider when marketing your property. Reprint Rights and How To Use Them To Generate A Steady Income I can't emphasize enough how important it is to have a step by step guide for sellers and tenant buyers. However, many of you are missing out on other income streams that these step by step guides can generate. For Sale By Owner: The Inside Scoop On Selling Your Own Home If you're thinking about selling your home perhaps the 'for sale by owner' signs posted on neighborhood lawns have intrigued you. When you browse the newspaper listings you see ad after ad boasting 'for sale by owner' as an added incentive for buyers and you envy the owners that are confident enough to try it. Grab Quick Profits As Real Estate Prices Soar Real estate values rise and fall in cycles. Currentlyhome prices are nearing a top in many areas. Buying Outer Banks (OBX) Investment Property So, you're thinking of purchasing a rental property at the beach. Historically, real estate investments have proven to be a wise investment strategy. Burn, Baby, Burn! Luxury homes are lots of fun to inspect. Sure, the pay is better too, but mostly it's just fun to see how the other half lives! I also get to meet those people who have reached such a level of financial success that they are buying a home that seems like it could have been a boarding school!One of the fun aspects of inspecting large and expensive homes is seeing furnishing and interior design work at the highest level. Rental Properties: 10 Ways To Increase Income What if you want better cash flow from your rental properties? You can't just raise the rents arbitrarily. If tenants leave, income goes down, not up. Researching Property for Real Estate Investing Much is being said lately about investments. There are many investments that one could make: stocks, notes, gold, retirement plans, etc. Make Money With Room Rentals I don't know why I didn't do it sooner, but one day many years ago, I decided to try renting rooms in my home. I was young and single, and had a nice mobile home on small piece of property.
|
| home | site map |
| © 2006 TIGER MEDIA |
