Zillow Advice: Buying Foreclosures - when a home is for sale for a 100$ what are the hidden costs involved during purchase and thereaft

Where are you seeing it's ...

Fri, 30 Oct 2009 03:03:00 GMT

Where are you seeing it's for sale for $100,000? If it's for sale by an agent they will give you a breakdown of closing costs. There should be no hidden costs.

Thereafter, I guess you mean rehab, and it's up to you to figure out how much you want to spend fixing it up. Check with a good licensed contractor for bids on fix up.

you have to count the cost ...

Wed, 15 Apr 2009 06:11:00 GMT

you have to count the cost of your medical bills, after you get shot by the crack dealers living in it when you go by to kick them out.

If a house is legitimately ...

Wed, 15 Apr 2009 03:26:00 GMT

If a house is legitimately for sale for $100.00 there's a pretty good chance it's a tear down and you are really buying the land for $100.00 with the understanding you will have to pay for demolition of the existing home, filling in the foundation with dirt and regrading the soil. That will set you back a minimum of $20,000. (this is the cost I've seen in Minneapolis).

If you think the house is habitable (through a qualified inspection), make sure the house is not on a city condemnation list. Also make sure that you will receive clear title to the home with no liens, assessments or other fees that may be attached to the home.

Just remember, there's no such thing as a free lunch - unless your a fan of dumpster diving.