Question Details

Debbie, Other/Just Looking in Pennsylvania

IS IT TRUE YOU CAN BUY HOMES FOR 500.00 OR LESS

Asked by Debbie, Pennsylvania Fri Feb 20, 2009

Help the community by answering this question:

Answers

2
There are many, many ways to "buy" a house. It is true that closing costs, possible down payment, and some other fees add up to lots more than $500. HOWEVER- it is also possible that you can negotiate terms of the sale where the seller may be willing to pay some or all of these costs for you, as long as it is legal, above board (all parties to the transaction are knowledgable of the terms) and as long as the new mortgage company for the byer (if there is one) accepts the terms as within their own lending guideines.
So- yes- it is possible. But you should be careful. I am not an attorney- but you should consult with one if you have any doubt about what you are committing to by entering in to a real estate contract.
Just know that there are dozens of methods of buying real estate. In negotiating, you never get what you deserve. You get what you negotiate.
0 votes Thank Flag Link Fri Feb 20, 2009
Debbie,

Rule number one is "if if looks too good to be true......it probably is."

The process of closing on a home is going to cost you more than that.
0 votes Thank Flag Link Fri Feb 20, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer