Wes Madden's Real Estate Blog

How to Tell a Great Fixer Upper in Alaska from a Money Pit

You likely already have a picture in your head of what you'd like your dream home in Alaska to look like. Maybe it's a new construction home in a family-friendly neighborhood or maybe it's a fixer upper that you can make your own. If the latter is more your style, you'll want to keep your eyes peeled for a certain set of features that will help you tell the difference between a property with potential and a money pit.

Below are four things to look for in Alaska fixer upper homes to avoid a homeowner headache down the road:

Sound Structural Elements
When you move into a new home in Alaska, it can be quite costly to need to replace major structural parts...

What is a Bump Clause in Alaska Real Estate?

You've found a buyer for your Alaska home, they've put in an offer, but now what? How can you be sure you won't receive a better offer than the one they submitted? Will you be able to accept a better deal if it comes along? As a home seller, you'll want to get to know the  bump clause.

Bump clauses are getting a lot of air time in today's real estate market as they allow the seller to enter into a contract with a buyer while continuing to market their property. If they get a better offer, they can "bump" the original buyer.

Bump clauses are commonly used when a buyer has a contingency attached to their offer, meaning they need to sell their current home first or have placed the sale contingent upon factors like the inspection or appraisal. The bump clause will allow sellers to attempt to reach another...