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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Sarah Klamm, Agent, Wellsville, KS
Mon Apr 18, 2011
There are many phases of a foreclosure. Sometimes, they have not designated a listing price yet. Some of the homes are not even for sale at this time. Websites pull info from other websites and information is often invalid or old. If you find something that looks good, check with a local agent in your area who can get the details for you or watch for the home to hit the market and then notify you. DO NOT pay one of the "foreclosure listing" sites for their info. Your local agent is always your best bet. Good luck!
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