2006-08-10 13:03:58 · 7 answers · asked by chrisatyourservice 1 in Business & Finance ➔ Renting & Real Estate
The only way you can get a house that cheap is if it needs to be moved. Then you would have to already have a place to move it to (this means land you own) AND you'd have to pay to move it and connect all the utilities (and disconnect where it is). That's going to run several thousand dollars depending on the size of the house, how far you are moving it and what condition it is in.
So there is NO house that cheap.
As to tax lien sales, you can acquire property rights by paying the tax bill (whatever that may be) but....any house that has any real equity in it is going to be sold long before it gets to that point, and there's often a first mortgage holder so you'll have to either qualify to assume the existing mortgage or put a new loan on the house. Either way, you'll still have a monthly payment.
There's no free ride out there.
2006-08-10 13:24:52 · answer #1 · answered by Lori A 6 · 0⤊ 0⤋
In our area we have many homes that sold for $700 and less. Some were as low as $100.00. Of course, there is always a catch. These houses have been taken for back taxes or are considered abandoned. You can "buy" the house for $700.00 or less but you really need to do your homework first. You would be responsible for all property taxes past due. Then there is the possible outstanding water bill if any, that you get with the property. You would want to check for easements concerning the property and also parking (driveways). Many houses are abandoned due to no parking.
My husband and I checked into a few for investment. Although the house would sell very cheap, some had back taxes on them that added up to 23 thousand dollars, and then you still had to fix the dilapidated house according to all codes building rules.
2006-08-13 15:37:13 · answer #2 · answered by Tweek 3 · 0⤊ 0⤋
They are probably advertising tax lien scenarios (back taxes owed), which in some cases you can get that low, however there are numerous laws that apply to your actually being able to turn around and sell or use that property, depending on where it is. It might take as much as a year before you can do anything with it.
2006-08-10 13:15:33 · answer #3 · answered by John H 3 · 0⤊ 0⤋
$700.00?
Is it a refrigerator box?
Or a tent?
Maybe a used pop up?
2006-08-10 13:17:43 · answer #4 · answered by Igotsandypants 2 · 0⤊ 0⤋
Dont think so
2006-08-10 13:10:45 · answer #5 · answered by Anonymous · 0⤊ 0⤋
No? Where?
2006-08-14 07:04:45 · answer #6 · answered by Anonymous · 0⤊ 0⤋
TRAILERS FOR SALE OR RENT...
2006-08-10 13:10:49 · answer #7 · answered by Anonymous · 0⤊ 0⤋