how do you find hud forelosed homes in your area for $1.00?

Asked by Bella, Kansas City, MO Sun Jul 17, 2011

Help the community by answering this question:

+ web reference
Web reference:

Answers

7
Ron Thomas, Agent, Fresno, CA
Sun Jul 17, 2011
I might have seen LISTINGS like you are describing:
and I am not being a smart___.

If the House has burned, is not habitable and not fixable, they will try to sell it as land with a house that needs to be demolished. You cannot and may not fix that up!

This is very hard to sell, because you would first have to remove the old house.

This is probably one of those things that you don't want to touch with a ten foot pole.

When something sounds too good to be true, it usually is.

Good luck and may God bless
1 vote
Carol.terry, Home Buyer, Waterbury, CT
Thu Oct 19, 2017
I CANT FIND THE INFORMATION FOR THE TO STOP TAKING PAYMENT FROM ME FOR A LISTING I DONT USE, CAN ANY ONE GIVE ME THAT SITE I WANT TO CANCEL
0 votes
Bella, Renter, Kansas City, MO
Fri Jul 22, 2011
Strange thing is I found this concept on website hud but it was impossible to find additional information.
0 votes
Julie Traver…, Agent, Southbury, CT
Sun Jul 17, 2011
hi, the first answer hit it on the spot. the bank is taking it back and is recorded as a $1 but then they resell that property for a loss. i am a hud agent, specialize in foreclosures and can defintely assist u or anyone u know in connecticut. julie lucia, realtor, showcase realty. please feel free to call me at 203-578-5631 or email
julie.lucia@att.net
0 votes
Don Fabrizio…, Agent, Danbury, CT
Sun Jul 17, 2011
Foreclosed homes do not sell for $1 in this area.
What happens, is when a home is foreclosed upon, the transfer from the previous owner to the bank is listed as a transfer for $1. The bank will then hire a listing agent to list the home. Foreclosed homes are typically listed for sale at or perhaps just below fair market value.

When people see in the newspaper that homes transferred for $1, it is the transfer to the bank, due to the foreclosure.
Web Reference:  http://www.FabRealEstate.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sun Jul 17, 2011
Not sure such properties exist, since one dollar really doesn't buy you much of anything these days....
0 votes
Michael Emery, , Minneapolis, MN
Sun Jul 17, 2011
If there is such a thing, they would be listed on the website hud.gov
0 votes
Search Advice
Search
Ask our community a question
Foreclosure in Waterbury Zip Codes

Email me when…

Learn more