Home Buying in Philadelphia>Question Details

dmuniz106, Home Buyer in Philadelphia, PA

i wanted to know if its possible to buy a dollar home from the city of philadelphia?

Asked by dmuniz106, Philadelphia, PA Fri Jul 19, 2013

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4
HUD does sell homes for $1. If after 6 months on the market a HUD home does not sell, then it is available for $1. The odds of getting a home from HUD for $1 are slim.

I would be happy to work with you to help you find a home.

Monica Mack
Sales Associate
Howard Hanna Philadelphia Realty
(267) 333-0111
monicamack@howardhanna.com

I look forward to talking to you soon
0 votes Thank Flag Link Sat Jul 20, 2013
Hi Ms. Muniz,

No. See answers below.
If you would like some professional assistance in finding and negotiating a good deal on Philadelphia properties, please feel free to contact me. I work with many investors in Philly to help them secure good investment rental properties.

Looking forward to speaking with you. Have a great day. Stay COOL! = )

All the best,
Larry Lichtman
Realtor, Property Manager
Your Real Estate Resource For Life
CELL/Text: (267) 254-7994

Liberty Real Estate
924 Arch Street
Philadelphia, PA 19107
Office: (215) 625-4725
0 votes Thank Flag Link Sat Jul 20, 2013
Very doubtful. When people see $1 sales in the Public Records it is usually when a home is transferred b/t family members. For instance, I buy a home before I am married and after I get married I want to add my spouse to the deed/title/mortgage for the home. I would refinance the home, get new title insurance and add her to the deed. This would take place and when all the new documents are recorded the Public Records will show a transfer of the home for $1 even though there was no sale that ever occurred.

Hope that helps,

Andrew Himes
0 votes Thank Flag Link Fri Jul 19, 2013
I doubt it very much. Every body hears of dollar homes but nobody has ever bought one that I know of. On the rare occasion that it happens it is sold for a dollar because the new owner will be required to do a lot of work to either move the home or upgrade the home or something. And on our tax records here in New Jersey they sometimes list the homes so it looks like they were sold for a dollar but that is not really the case, it's simply a place holder for transfer of a home due to settlement of an estate or some similar situation.
0 votes Thank Flag Link Fri Jul 19, 2013
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