Property Q&A in Cheshire>Question Details

Jennifer Lynn, Home Buyer in Wolcott, CT

Why does this house say $1 and it has no picture?

Asked by Jennifer Lynn, Wolcott, CT Wed Feb 8, 2012

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This question is about this property: http://www.trulia.com/foreclosure/3058361249--Sheila-Ln-Ches…

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The correct line of thinking is this: The transfer value according to Trulia is the amount of the last sale on the house. Thus, this house was last purchased before the town of Cheshire started recording such data. Since there has not been a transaction since these owners purchased the home, the town assigns a "$1" value. New Haven is riddled with "$0"s.

The more important question is: “what is the value your bank’s appraiser will likely assign to this property and how do I get the owners to take less….”

I grew up in Cheshire and have been a real estate Broker for 10+ years. Call me with any other questions. 203-640-5300. Good luck in your search and try to stay away from short sales and foreclosures....
0 votes Thank Flag Link Thu Feb 9, 2012
Good morning Jennifer, the bank most have acquired it through a foreclosure. I would be more than happy to find out more information including the bank if you can provide me with the complete address or name of the property owners. I have alot of experience in handling bank owned properties and would be more than happy to assist you. Julie Lucia, Realtor, Showcase Realty, 203-578-5631; julie@julierealestate.com
0 votes Thank Flag Link Thu Feb 9, 2012
It most likely is a property that is bank owned and being offered for auction. Be careful there are a lot of scams out there. The best way to find a home is to work with an ABR (Accredited Buyer Rep). I hold that designation and would be happy to help you!
0 votes Thank Flag Link Thu Feb 9, 2012
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