adrianebarne…, Home Buyer in Philadelphia, PA

are the homes in philly really a dollar ?

Asked by adrianebarneslilbitts, Philadelphia, PA Sat Jun 22, 2013

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6
Tim Moore, Agent, Kitty Hawk, NC
Sat Jun 22, 2013
Come on, turn on the common sense. I have a $20 in my hand, do you really think you can buy a house for $1 and not have it also come with law suits, liens, condemnation notices, or stuff like that? Yes, it might cost you $1 and then the tax lien is $30,000 and to get a permit to allow someone to live there another $50,000 and so on.

You do know the people talking about the $1 homes are trying to sell you something, or they would be buying the $1 home.
1 vote
Michael Solo…, Agent, Huntingdon Valley, PA
Sat Jun 22, 2013
the magic dollar deal this is real estate not mc donalds dollar meal
0 votes
Dirk Parker, Agent, Philadelphia, PA
Sat Jun 22, 2013
Actually, there was/is a program for "dollar houses" in Philadelphia. But, it is not that easy to obtain. Generally the program is through HUD in affiliation with the city's Section 8 program. Section 8 recipients can obtain a VACANT property in Philadelphia that are unable to be sold within 6 months for technically $1 but there are other stipulated factors. To it as well NO INVESTORS also you need to live in the home for a certain amount of time as well. I think there are liens placed on the property that gets "forgiven" by a percentage each year. Check out :
http://portal.hud.gov/hudportal/HUD?src=/program_offices/hou…
For info or Section 8 site for more.
Also check out my blog for other helpful info. http://www.dirktherealtor.com

**Typed with thumbs**

Dirk Parker MEd, ePro, Realtor
Prudential Fox and Roach Jenkintown
http://Www.dirktherealtor.com
http://Www.dirk.parker.prufoxroach.com
215-908-9390
0 votes
David Siegel, Agent, Boston, PA
Sat Jun 22, 2013
how many do you have to buy before the price drops to 75 cents?
0 votes
Ron Thomas, Agent, Fresno, CA
Sat Jun 22, 2013
No, Tim's probably wrong:
Go ahead and buy 20 of them.
0 votes
David Siegel, Agent, Boston, PA
Sat Jun 22, 2013
Tim is right. you get what you pay for.
if it seems too good to be true it probably is. there's no free lunch.
0 votes
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