Foreclosure in Waterbury>Question Details

Kathy, Home Buyer in Waterbury, CT

why do some foreclosed homes have a price of a $1.00? what does it mean exactly?

Asked by Kathy, Waterbury, CT Mon Apr 18, 2011

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Thanks Ron, but the content of this question still applies today!
0 votes Thank Flag Link Sun Jan 27, 2013
It is probably sold by now.
0 votes Thank Flag Link Sun Jan 27, 2013
Although it is hard to say why a property is advertised for a $1, it can mean one of many things. In some instances, there may be liens on the property that will be assumed by the buyer. In other cases, it could be back taxes that haven't been paid by the seller. Each property is different, and if you were interested in one of these properties, your best bet is to reach out to someone involved with the sale to learn more.
0 votes Thank Flag Link Sun Jan 27, 2013
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