is this property really 16,000?

Asked by morris21, Houston, TX Tue Feb 5, 2013

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Al Geffon, Agent, Houston, TX
Wed Feb 6, 2013
FYI ... auctions are conducted on a cash-only basis. You'll need to submit certified funds in order to be able to bid. If the sale exceeds the amount of your check, you'll have a short period (usually 30 days) to remit the balance. The homes are sold "as-is, where-is," with no opportunity to view or inspect the property until you own it. There's always the possibility that it will need considerable work ... foundation, under-slab plumbing, roof, etc. Your competition will be experienced investors, who know of the pitfalls and have the wherewithal to make the necessary repairs and improvements. You really need to ask yourself whether you have that kind of money and are willing to take the risk.

The figure quoted was likely be the opening bid ...I would expect that the home to sold for considerably more. These "courthouse steps" auctions are obviously not for the faint of heart. Proceed with caution.

Regards ...

Al Geffon
(713) 213-6350
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Melody Barlow, Agent, Houston, TX
Wed Feb 6, 2013
It was on the market for 8 days for $16000, but it now has a sale pending. It was an auction property and apparently has a lot of damage, as you can see from the pictures. Contact me if you have any further questions.
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