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why are some houses only priced at 1$

i noticed houses in my area that had high value but with prices such as a dollar or thousand
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March 04 2011 - Hyde Park
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Answers (6)

If you're referring to Sold Data, then most likely ownership of the house was through a family memeber.

If you are referring to a house that is actually on the market for sale now, then listing it for a dollar is a very poor marketing used with the thinking that the listing will be more highly traveled and that legitimate offers can be cobbled out from this exposure. It is a poor marketing ploy because it does not reflect an honest study of current market values and does everyone involved a disservice.
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March 11 2013
If they have a current for sale price of $1.00 they might be homes that are up for auction. In some MLS systems you're required to put some dollar value into the listing. There's no expectation that the property will sell for $1.00
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March 04 2011
Its usually a family deed transfer or family sale.
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March 04 2011
 There could be some that are data issues. I find that most homes that have sold for $1.00 are to family members. A contract and sale has to have signatures and a transfer of money. The only way to find out is to pull the deed and sales record for the properties in question.

Hope this helps.
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March 04 2011
often this is a family property transfer, or refinancing.
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March 04 2011
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Usually prices such as these are data transmission issues, and are not real prices.
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March 04 2011
 
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why are some houses only priced at 1$
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