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Buy for One Dollar |
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I have just found a very nice home that is most likely valued at or above $300,000 it is being listed for a purchase price of $1.00. I'm assuming that back taxes are owed on it or something. How does it work when homes are being sold for $1? And what other expenses could I expect? Is it a realistic opportunity for a person like myself that does not have any savings, cash on hand, and poor/fair credit to buy a home like this. What about instant equity, can that be used for some of the purchasing expenses right away? |
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I've never heard of a house being sold for one dollar so I assume that as you suspect, you'd be taking some heavy problems along with it. At any rate, you should have your own lawyer to investigate and let you know what's involved. |
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Edith
Originally published on December 15, 2007 |
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