Home Buying in Philadelphia>Question Details

Tara, Home Buyer in Philadelphia, PA

How do i get a house in Philadelphia for 2-3 thousand dollars?

Asked by Tara, Philadelphia, PA Wed Feb 8, 2012

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8
Tara:

I do not believe it is realistic to think you can purchase a home to live in for three thousand dollars in Philadelphia.

If you are seeking a home to rent and that is your monthly budgeted amount you should `call a local Realtor in the community in which you are seeking to live. Should you need a referral to a reputable rental agent please feel free to email me privately and I will provide you with an array of choices.

Ana Barlow
Coldwell Banker Preferred
anabarlow@gmail.com
1 vote Thank Flag Link Wed Feb 8, 2012
Actually, I just sold one of my listings fir $130,000. The buyer only needed $1300. Call me for details. 267-970-3952
0 votes Thank Flag Link Wed Feb 8, 2012
you have to be a little more specific...is that the amount you want to spend for down payment and closing costs...or is that the amount you want to spend on a house...

if its the former...a house fha at $35k with maximum seller assist...perhaps...the 35k sale price is really going to limit where you live...so i hope youre really open to location

if its the latter i would suggest the model section at toys r us
0 votes Thank Flag Link Wed Feb 8, 2012
Tara,

You absolutely can buy a home with $2000-3000. It would limit your price range as FHA requires 3.5% of the purchase price as a buyers minimum investment. If you are a veteran-you can buy a home at almost any price with that amount of investment provided you qualify for the monthly payment, etc.

Further, depending on you income, etc. there are programs that offer closing cost grants and possibly discounted interest rates if you are a first time home buyer (or have not owned a home for 3 years).

So, the bottom line if go to an experienced Realtor and go over your situation and financials and he/she can guide you to the program that is best for you.

I would be happy to assist.

Bob Weiss, ABR, CRS,GRI
Broker
Coldwell Banker Hearthside Realtors
213-379-2002
r.weiss@cbhearthside.com
0 votes Thank Flag Link Wed Feb 8, 2012
You can head over to the Sheriffs Sale and potentially get a house for that amount, whether or not it is livable though is the question.
0 votes Thank Flag Link Wed Feb 8, 2012
To tell you the Truth i do not think it is possible. Even with Full Sellers assist you will still need around 4-5k to put for a 3.5% FHA Down-payment.

I would have to evaluate your goals in order to make a comment. No one on this site knows your financial situation therefore it would be difficult to answer your question.

Please visit my site to calculate your monthly payments: http://www.eRealtyFind.com/mortgagecalc.asp

Each client gets evaluated individually.

Best Regards,

Alexander Shulzhenko
Realty Mark Cityscape
267 738 0886
realexs@gamail.com
http://www.eRealtyFind.com
Web Reference: http://www.eRealtyFind.com
0 votes Thank Flag Link Wed Feb 8, 2012
There are many homes you can buy with just a few 1000 dollars out of pocket and super low monthly payments. Give me a call. I'd be happy to give you details.

Carol McCann, Remax Millenium
267-970-3952
0 votes Thank Flag Link Wed Feb 8, 2012
Are you talking about out of pocket money at closing or full purchase price?
0 votes Thank Flag Link Wed Feb 8, 2012
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