Profile picture for cybertoe

Homes for $1

Occassionally I see homes that were recently sold, and the sale price was $1!  What exactly does this mean?  If there are any out there, I'll take a couple!!!
  • February 10 2010 - Lockport
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Answers (2)

Profile picture for blank screen EXILED
There also are a lot of structures that need to be torn down for other purposes, and many cities require the owner/developer to look for someone to "salvage" historic homes.  You may find some listings on some city websites.  I know Pasadena has a listing on theirs.  In many cases, the developer will even help with some of the moving costs since they would have to have paid for demolition and hauling otherwise.

But you do need your own lot, correct zoning, a way to get it from present location to your location, and sufficient resources to complete the project and make it habitable (utilities...).

I really do hope you will take more than a couple.

And don't forget about the condemned "brown field" sites that will take substantially more dollars to clean up than the property would be worth after it was cleaned up and made safe.
  • February 10 2010
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Profile picture for wetdawgs
Usually the sales prices of $1 mean that the property was transferred between relatives for a token amount.

Find a rich uncle and you'll be set!
  • February 10 2010
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