Foreclosure in Golden Lakes>Question Details

Roger, Home Buyer in Golden Lakes, West P...

Am I to believe that I can actually buy a foreclosed condo in West Palm Beach Fl. for $1000? I am an Australian resident. Thank you.

Asked by Roger, Golden Lakes, West Palm Beach, FL Sat Nov 6, 2010

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You are from Australia, not Fantasyland. $1,000 condos are a myth.
1 vote Thank Flag Link Sat Nov 6, 2010
Yes you can buy a condo for $1000 but that may mean that there are Liens against the property for you to pay too. Like HOA dues, second mortgages loans, etc. Search the title before you bid. Some are going for $100.00.
0 votes Thank Flag Link Thu Nov 25, 2010
Thank you for your question about Foreclosure prices that seem to good to be true. Please be advised that if something looks to good to be true it probably is. The price you saw listed for a property in Foreclosure probably represents the amount of a lien filed against the property and does not represent the actual cost to acquire it.
0 votes Thank Flag Link Wed Nov 10, 2010
I believe it is reasonable for you to ask. One never knows. Golden Lakes is an over 55 community west of the Turnpike south of Okeechobee Blvd. in West Palm Beach. There are certainly some super deals there in the $20,000's.
0 votes Thank Flag Link Tue Nov 9, 2010
Beware of anything that sounds too good to be true! Also, beware of scams.
It can be an opening bid, but if you would like someone to check it out for you,
Check with a Realtor, such as myself.
0 votes Thank Flag Link Sat Nov 6, 2010
That could be an opening bid on the auction for the property.
0 votes Thank Flag Link Sat Nov 6, 2010
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