Foreclosure in Kensington>Question Details

Christine, Home Buyer in Philadelphia County,...

i'm looking to buy a home for less than $6000. I don't care where it is. is this possible?

Asked by Christine, Philadelphia County, PA Sat Jan 30, 2010

I receive SSI but cannot get a doctors note for a mortgage. I'm facing homelessness

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Please go to a HUD approved housing counselor in your area. You may not want to use all your savings for a house that will need to be fixed up and you may find you do not have money to fix the heater. You should sit down with someone who can do a rent vs buy analysis for you. Good luck.
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0 votes Thank Flag Link Tue Feb 2, 2010
i have houses you can buy for under 10,000
it will have to be a cash as is transaction.
what area do you want to be in
michael p Cohen
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0 votes Thank Flag Link Sun Jan 31, 2010
Even in northern PA, $6000 won't buy you much more than a shell you'll have to fix up. I think you should explore other options rather than spending $6000 on something you need to put more money into.
0 votes Thank Flag Link Sat Jan 30, 2010
A $6,000 house in Philadelphia would require many more thousand of dollars of improvements to make it a safe and secure place to live. First, you need to get help finding temporary housing, and then get help finding assistance to help you pay for long term place to live.
0 votes Thank Flag Link Sat Jan 30, 2010
Why don't you consider renting instead of buying--if homes exist in the $6000 range, they more than likely need extensive renovations--not sure you are looking for a money pit.
0 votes Thank Flag Link Sat Jan 30, 2010
I checked the MLS, and there are some houses avaialable in Philadelphia and some in Chester. I don't know if any of them are liveable.

Brian Fletcher
0 votes Thank Flag Link Sat Jan 30, 2010
In our area, the only way to purchase something for that price range would be a mobile home.
0 votes Thank Flag Link Sat Jan 30, 2010
Hi Christine. Homes in the $6k range are typically "shells". Some investors might be willing to hold the mortgage for you on a home. This might be possible, depending on how much of a monthly payment you can afford. There are some condominiums for sale in south Jersey which might work. Feel free to contact me.

~Robert Greenblatt
Keller Williams
Cherry Hill, NJ
0 votes Thank Flag Link Sat Jan 30, 2010
You can probably find one in Chester Delaware county. But I don't know if it'll be liveable. I can look on the MLS for you, email me if you would like more info

Thank You,
Brian Fletcher
Lincoln Realty
0 votes Thank Flag Link Sat Jan 30, 2010
Hi Christine

You may want to try a few of the Real Estate web sites. Trulia and are a couple of the really good ones. They allow you to search for Real Estate listing in all area's of the US. Another solution is to look online for a Realtor in your area or the area you would like to live in. They should be able to help you with making this possible.

0 votes Thank Flag Link Sat Jan 30, 2010
If you're facing homelessness, then perhaps buying a home shouldn't be your top priority. Your top priority should be to find a stable housing situation. And that more likely means renting than buying. Check with your county's housing office, or your case worker, to find a stable housing situation.

Just for the record, sure, you can buy a home for less than $6,000. Plenty of mobile homes sell for less than that, though you'll also have to pay ground rent.

Or you can buy a property "subject to" an existing mortgage. You get the deed, sometimes for no money, sometimes for a few thousand. But then you have to make the monthly mortgage payments.

Or you do an equity share with someone with the necessary downpayment and credit.

But in your case, the question isn't one of finding a house to buy. It's finding a stable place to live.

Hope that helps.
0 votes Thank Flag Link Sat Jan 30, 2010
Don Tepper, Real Estate Pro in Burke, VA
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