Question : How do you buy condemned homes?
I'm not interested in the courthouse auctions of foreclosed homes, i dont have that kind of cash/credit for mortgages. A buddy told me that some condemned homes simply dont go up on the auction block because they are too cheap. an example is, i live in pennsylvania, near lancaster city, supposedly theres condemned row homes that are listed for 3k(buy price, not auction) these are the types of houses that you gotta sleep in as you remodel because its in a bad area, yet you will have no problem selling it for about 30k when its finished, rehab is supposedly about 10-15k if totally stripped and condemed (which they usually are).
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Showing posts with label Properties. Show all posts
Showing posts with label Properties. Show all posts
Thursday, July 18, 2013
How do you buy condemned homes?
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How to Buy a Home for $15,000
Two years ago, Daryl Sanford bought his three-bedroom house in the Syracuse, N.Y., area for $40,000. Now it’s valued at $72,000.
Jason Denny and Megan Amatrone got a discount of about 25% off the market value when they bought their homes.
And Jim Meyers bought his upstate New York property in 2003 for just $15,000. Now it’s estimated worth is around $107,000.
Jason Denny and Megan Amatrone got a discount of about 25% off the market value when they bought their homes.
And Jim Meyers bought his upstate New York property in 2003 for just $15,000. Now it’s estimated worth is around $107,000.
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