Is a $5,000 dollar house that is REO really $5,000 dollars???
i see houses listed as REO with a price of $5,000. Is there something i am not understanding? it can't possible be $5,000.00 that would be insane.
Answers (1)
FIRST ANSWER
I see this is an old question, but still relevant, it is one of my FAQ. When looking on the internet foreclosure lists many times that low amount is the past due amount and not the sales amount, of course it depends on which parts of the country you are looking at. Some big cities and areas hit hard are indeed selling $5000. homes to get them off the books and hopefully in "rehab"
Of course the new owner will have to spend thousands more to make the house a home you could live in.
Web Reference: http://www.FoothillHotProperties.com
Didn’t find what you were looking for? Ask a question!
More Q&A about Home Buying in 95125
View all »
Ask a question
Got a real estate question? Get answers from locals, experts and real estate pros.
Email me when…
View all »
1 - 3 of 138
|
|
|
|
|||||||||||
|
|
|
Copyright © 2009
Trulia, Inc. All rights reserved. |
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
Help us improve our service—send us feedback