Property Q&A in 70115>Question Details

Vanessa, Home Buyer in 10031

How did you buy a $200K house for $20K selling price.?

Asked by Vanessa, 10031 Sun Jan 18, 2009

I saw a question answer where the realtor said he made a sell for a buyer of $20K selling price on a $200K house that needed work. I am looking at a property that they are asking $200K, but it needs work. Maybe $150K. How do I go about getting them to come down to $20K? How did you do it?

This question is about this property:…

Help the community by answering this question:


no it doesnt happen, houses valued for 200 thousand do not typically sell for 20 thousand

the only way thay can happen is if you get the house at tax auction, and wait 3 to 5 years

very rare
0 votes Thank Flag Link Sat Jan 24, 2009
Although this isn't the norm, it certainly does happen from time to time. This is something that some investors can do--with or without the help of a realtor--routinely (especially in certain markets).

Yet, the goal should be to acquire a property for a reasonable price (sometimes that price is a severely discounted price--due to the shape of the property), and to do something constructive with it.
0 votes Thank Flag Link Sun Jan 18, 2009
Even if the house sold for $20K...consider taxes, insurance, title fees, etc. These are real costs on EVERY property anywhere on the globe. I do not know how the late night "get something for little or no money down" showmakers get away with selling what they do, or licensed professionals promising people the moon...but make your own decisions based on reality...and death and taxes and insurance is reality...nobody gets something for nothing....there is a basic process to everything.. understand the process and you will save alot of time.
Web Reference:
0 votes Thank Flag Link Sun Jan 18, 2009
Or...could the realtor have (gasp!)..LIED?????.
0 votes Thank Flag Link Sun Jan 18, 2009
IF someone bought a 200K house for 20K it was probable a tax auction.

or the house was falling down
0 votes Thank Flag Link Sun Jan 18, 2009

The property you spoke of is not on the market--I have checked the MLS. But there are 3 other properties in that block priced from 165K to 300K. If you would like details please contact me directly and I will send on to you. As far as negotiating a price,this is where the advantage of working with an agent came in. An experienced agent can ehlp you to get the best price and do the negotiating for you. And remember--it costs you nothing to get an agent. We are paidby the seller at the time of closing.

Dana Schuster
Century21 Investment Realty--Slidell

0 votes Thank Flag Link Sun Jan 18, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer