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can u buy a house free and clear for under 500 dollars?

 
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Klingon



Joined: 05 Sep 2004
Posts: 4

PostPosted: Wed Feb 15, 2006 9:19 am    Post subject: can u buy a house free and clear for under 500 dollars? Reply with quote

i was looking at foreclosures and realestate classifieds on yahoo and it had houses for 1 dollar 20 dollars 3000 dollars can u really get houses that cheap in any way these were in illinois within 50 miles of joliet
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Mike6916



Joined: 26 Aug 2005
Posts: 9

PostPosted: Mon Feb 20, 2006 6:22 am    Post subject: can u buy a house free and clear for under 500 dollars? Reply with quote

You can if you acquire this house by way of a tax lien or a foreclosure sell off.
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garalex2121



Joined: 04 Nov 2005
Posts: 3

PostPosted: Sat Feb 25, 2006 3:25 am    Post subject: can u buy a house free and clear for under 500 dollars? Reply with quote

Check with your local HUD office - they can help you get into a house with little to no money down. I doubt you can get a house for that little, so be careful with your money.
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MRM



Joined: 02 Jun 2005
Posts: 5

PostPosted: Thu Mar 02, 2006 12:29 am    Post subject: can u buy a house free and clear for under 500 dollars? Reply with quote

You can probably buy a dog house for under 500. I've never heard of any decent houses (or even just bare land) for that price.
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clambacke



Joined: 08 Feb 2007
Posts: 4

PostPosted: Mon Mar 06, 2006 9:32 pm    Post subject: can u buy a house free and clear for under 500 dollars? Reply with quote

houses are that cheap for a good reason. They might have a huge mortgage tacked on.
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leyenda_asturias



Joined: 13 Mar 2005
Posts: 7

PostPosted: Sat Mar 11, 2006 6:35 pm    Post subject: can u buy a house free and clear for under 500 dollars? Reply with quote

No, of course not. These firms are listing either deficiency amounts of tax lien amounts. The figures they are listing does NOT get you a house, free and clear, for that amount. Once you've paid the amount listed, then you go about paying off all the other liens and mortgages which may encumber the property.Sorry to inform you, there ain't no free rides like that in Illinois, or anywhere else, for that matter.
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SpellCheck5343



Joined: 20 Jan 2007
Posts: 10

PostPosted: Thu Mar 16, 2006 3:38 pm    Post subject: can u buy a house free and clear for under 500 dollars? Reply with quote

The property would probably be a dump. Several years ago I got a hold of a foreclosure list and it had a lot of garbage property. Be careful here because there are a lot of scams on this subject. I am more into delinquent tax lien sales. I do not want to own property but rather obtain 18% interest on tax lien purchases. I have a little over $4,200 that I plan to invest in a few days.
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sexyjutsu



Joined: 07 Aug 2006
Posts: 3

PostPosted: Tue Mar 21, 2006 12:41 pm    Post subject: can u buy a house free and clear for under 500 dollars? Reply with quote

I'd be very very careful of any home being sold for 500 bucks. I'd check for everything. Mold, abestoes, lead, have the water tested, roof checked, flooring checked. Everything under the sun a couple times.I'd be weary the place is a dumb or came with strings attached.
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