How can you buy a house in US for $16.00 only?

Is that true that you may be able to a house in US for $16.00?
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October 23 2012 - Houston
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Profile picture for MohamedElhadari
Yes ! you can a house in US for sweet sixteen dollars.this is the story I saw it in a newspaper.
http://www.foxnews.com/politics/2011/07/21/texas-mans-16-property-seizure-throws-obscure-law-into-spotlight/

You be the judge!
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October 28 2012
I would be very scared to buy a home for $16.00, it goes back to the old saying.  If it is too good to be true....
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January 02 2013
If you can, I'm sure it won't be a bargain!
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January 01 2013
Profile picture for Pasadenan
"You be the judge!" -

Wealth builders?  Most of us call those kinds of "lectures" and "methods" SCAMS!  Just see how well it worked out for Bernie Madoff!

And he wasn't even making his money selling get-rich quick schemes!

Everyone knows that those that sell lectures, classes, and "methods" on getting rich quick do so because they have no clue how to make an honest living, and are looking for "anything" that will put food on their table.  Besides, such "lectures" are considered "free speech", so it makes absolutely no difference to them that the methods they teach are "worthless".
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October 28 2012
If too good to be true most likely it is...
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October 28 2012
Ebay
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October 28 2012
Profile picture for wetdawgs
@Mohammed:  You may wish to read the followup story. See Michael's post for a link.
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October 28 2012
Profile picture for Pasadenan
I haven't seen any doll houses at tоys-R-υs for as little as $16.

And most Mоnopoly games sets cost more than $16, unless you can get is at a rummаge sale or yard sale.

But I'm sure that someone will sell you a house for $16.  There are quite a few that require "relocation" to build something else, that are offered for sale for $1, but you have to pay for moving it, and you have to have your own lot to put it on, and you have to pay for police еscort services to take the full street width, and you have to pay for moving traffic lights and power wires, and you have to pay for tree trimming, and you have to pay for plan check, and have to pay for site utilities, and a garage, and driveway, and occupancy permit, and repairs required by the move.

Still, a $1 is still only $1, even if it costs you about $80k before you could move in.
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October 24 2012
Alas, it was not to be.
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October 24 2012
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October 24 2012
Do not tell anyone where they're located or there won't be any more left...
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October 24 2012
The cheapest (livable) house, not mobile home, in Houston sold for about $19,000 last year. I don't think you could get a lot for $16.00 let alone a house. If you saw that price somewhere, it was either a typo or a scam.
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October 24 2012
Profile picture for hpvanc
If you find one without unresolved liens you will probably need to do something like remediate the toxic waste on the property before you can occupy or rent it.  Chances are it won't be a bargain.
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October 24 2012
Only if you're talking about $16.00 out of pocket and not $16.00 as a purchase price.  The only way to have so little out of pocket expense is to take over payments on an existing mortgagor's note.  I bought one particular house last year subject to the existing mortgage and at closing I got a check for $54.00 so that purchase was even better than "zero down"....I was actually paid to buy the home.  
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October 24 2012
You can also by a bridge in NY.
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October 24 2012
No, that is not true.
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October 23 2012
Yes, it is very true.  Toys R Us is the place to go for that.
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October 23 2012
Profile picture for wetdawgs
No, it isn't true.
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October 23 2012
 
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