The question is how could this be so low in price, well there are several reasons. One is the fact that this home needs a lot of work. It has so much potential, and could be a really great home someday, if there is no strucual issues. Two there has been several drops in the price, this is a vacant home, and a foreclosure. The home has some great features if you like the old style homes with hardwood floors and a fireplace with upstairs bedrooms and a separate possible kitchen area also upstairs. There is a basement, the lot size is good with a 2 car deattched garage. This is a handyman special some would say. At one time this was a nice house. With a little hard work,it maybe again. Hope this helps, and if you would like a tour of the home, give me a call.Have a great day.... more
Your only choices would be either cash or to ask if the owner would accept a Land Contract. But in order to buy the home on a Land Contract, the owner is still going to want a substantial down payment, but it never hurts to ask.
If you are not working with an agent, I would suggest to contact one and have the agent find out if a Land Contract would be acceptable.