Profile picture for user5198864

I've noticed houses under the 'Sold' (yellow arrow) for a VERY low amount. Can I buy at this price?

I've noticed houses in the area I'm looking for at a very LOW price $7-12k under the 'Sold' (yellow arrow) in the last 12months or less. I'm looking for my first home and I am able to probably purchase a house in full if it's this amount. Any reasoning on why this is that low and is price available to me?
  • February 05 2013 - Dearborn
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Answers (4)

Profile picture for Todd Bush
The user below is correct. I did some digging in the records on 24505 New Yorm and the 6k sale price is a result of several transactions between a few companies.

Again, if you want help finding a home that fits your needs, a Realtor working for you to purchase a home earns their commision from the seller. I am a local guy and would love to hel you.

Good luck.
  • February 08 2013
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Profile picture for hpvanc
You are in the Detroit area, so those may be actual sold prices.  However if they were there is a good chance those properties are not habitable.  Here is one that is currently pending, I don't see any active for sale in Dearborn at that price right now.

The other reasons properties may show up as sold for extremely low amounts are buying partners out, transfers between family, errors in recording, refinances showing as purchases ($7-12k is too low for refinances).
  • February 08 2013
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Profile picture for user5198864
I tried posting the link to one of the houses but was unable to copy/paste it. If you look up

24505 New York St., Dearborn MI 48124

2453 Homeplace St., Dearborn MI 48124

to just list a couple.
  • February 08 2013
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Profile picture for Todd Bush
I would need to see the actual listing or listings in question to get a good idea as to what is going on.

Feel free to contact me with specific questions, I am local to the area.
  • February 05 2013
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