Profile picture for reynoldsclan4

I see alot of homes selling for $1.00 how is this possible & can I get listings on those types of ho

  • March 21 2011 - Brookfield
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Answers (4)

Profile picture for ArrigoRE
Generally a house that sells for $1 is not so much of a sale, as such; it is a recorded transfer of ownership.
For instance, the transfer of ownership to reflect the inheritance of a property might be recorded in public records as a sale for $1.  Other instances might be a parent deeding their home to their adult children or a transfer of property ownership due to divorce or legal action.
So, most times the house really isn't purchased in MA for $1
Hope this explains it for you!
  • March 21 2011
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The sale for a $1.00 is typically when the property is transferred to a trust or within a family for minimum consideration.  These are not true sales only a change of title for various purposes. 

Best,

Eric
  • March 21 2011
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Profile picture for wetdawgs
If the sales price is recorded as a $1, it is usually a transfer between family members or into a trust.   There are no properties really available for $1.
  • March 21 2011
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Oftentimes, buyers and sellers do not wish to disclose the sale price.  In this case, they simply state the price as $1.00, although they must record the actual sale price with the County Courthouse.
  • March 21 2011
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