real estate


Question by  Amanda65 (1220)

Can you really purchase a house for $10,000.00?

If houses can really sell for that low why do so many people purchase them for such a high price.


Answer by  wally1 (17)

Typically homes that sell for $10,000 require a certain commitment in sweat equity. These homes often require at least cosmetic and perhaps more work but they can be real treasures in disguise. When you pay a high price for a home, you are paying a premium for the work someone else has done and for the choices they have made.


Answer by  patti (29325)

In the U. S. abandoned, nearly decrepit houses are sometimes sold by the municipality for a $1. 00 or other nominal fee. Then you put about $200,000 into it, along with the frustration of working with contractors, and you've got a lovely home. You get what you pay for.


Answer by  Anonymous

Yes, I bought a little 800sq.ft. house for $10,000. I put on a roof for $5,000 and redid some plumbing. I now own a cute little cottage...and my taxes are $300.00 a year. Life is much simpler now!


Answer by  tamarawilhite (17883)

Most houses sold for only a few thousand dollars are usually in bad condition, in need of drastic repair, or were seized due to unpaid federal and state taxes. In rare cases, the owner died and the estate is trying to sell it quickly to pay for debts the deceased owes.


Answer by  Devin98 (487)

Yes, you can buy properties for $10,000, however, these homes most likely are in need of many repairs and these would be taken care of by the investor to be resold or the new homeowner in the form of sweat equity.

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