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Old 05-15-2015, 08:42 PM
 
Location: Brooklyn
518 posts, read 692,038 times
Reputation: 505

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If you are a good writer in need of a nice house this might be the deal you've been looking for.

$150 House – 213 E. 23rd Street | We are selling our home in the Heights for $150. That's a pretty good price.
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Old 05-15-2015, 09:02 PM
 
6,343 posts, read 5,822,438 times
Reputation: 4426
It's in Texas
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Old 05-15-2015, 09:13 PM
 
11,227 posts, read 21,660,986 times
Reputation: 8821
Quote:
Originally Posted by Taxi guy View Post
If you are a good writer in need of a nice house this might be the deal you've been looking for.

$150 House 213 E. 23rd Street | We are selling our home in the Heights for $150. That's a pretty good price.
Not sure why this is in the NY forum since it's a Texas house, but anyway....

I dug around a little to find out why they'd be so crazy to sell their house for $150. In the link it tells you they are taking in $150 for every entry fee for the writing contest. But then I found this Today.com article that says that if they "don't find an essay they like" then they will just refund everyone's money.

I am SURE that if they don't get at least $400,000 worth of entry fees, they will claim not to have found an essay they like, refund all the entry fees, and then will put it on the market for the appraised amount, which is $400K.

I also wonder if there's some tax loophole they are getting around by taking in "entry fees" that add up to $400K versus the sale of a home at $400K.

Houston Heights family selling home for $150 - TODAY.com

If they do get $400K worth of entry fees, it means you're competing with about 2,665 other people for the win.
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Old 05-16-2015, 07:29 AM
 
Location: Manhattan
21,401 posts, read 28,196,671 times
Reputation: 9695
I will bid $150.50.
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Old 05-16-2015, 08:04 AM
 
Location: Middle of the Pacific Ocean
11,411 posts, read 6,173,790 times
Reputation: 11239
Quote:
Originally Posted by Henna View Post
Not sure why this is in the NY forum since it's a Texas house, but anyway....

I dug around a little to find out why they'd be so crazy to sell their house for $150. In the link it tells you they are taking in $150 for every entry fee for the writing contest. But then I found this Today.com article that says that if they "don't find an essay they like" then they will just refund everyone's money.

I am SURE that if they don't get at least $400,000 worth of entry fees, they will claim not to have found an essay they like, refund all the entry fees, and then will put it on the market for the appraised amount, which is $400K.

I also wonder if there's some tax loophole they are getting around by taking in "entry fees" that add up to $400K versus the sale of a home at $400K.

Houston Heights family selling home for $150 - TODAY.com

If they do get $400K worth of entry fees, it means you're competing with about 2,665 other people for the win.
My thoughts exactly! Still, I think its a (or has the potential to be) pretty ingenuous way to try to sell a house. I'd seriously consider such a process if we ever decide to sell our home.
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Old 05-16-2015, 07:43 PM
 
Location: Brooklyn
518 posts, read 692,038 times
Reputation: 505
Quote:
Originally Posted by Henna View Post
Not sure why this is in the NY forum since it's a Texas house, but anyway....

I dug around a little to find out why they'd be so crazy to sell their house for $150. In the link it tells you they are taking in $150 for every entry fee for the writing contest. But then I found this Today.com article that says that if they "don't find an essay they like" then they will just refund everyone's money.

I am SURE that if they don't get at least $400,000 worth of entry fees, they will claim not to have found an essay they like, refund all the entry fees, and then will put it on the market for the appraised amount, which is $400K.

I also wonder if there's some tax loophole they are getting around by taking in "entry fees" that add up to $400K versus the sale of a home at $400K.

Houston Heights family selling home for $150 - TODAY.com

If they do get $400K worth of entry fees, it means you're competing with about 2,665 other people for the win.
Your not suggesting I should have posted it in the Houston forum, are you?

Yes, it's true that they can pretty much back out of this for any reason according to the website, but still for $150 one has possibly a 1 in 3,000 chance to win something worth $400,000. That's better odds than the lottery. Then the house could be flipped, give 'em the finger, and take the cash back to New York.
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Old 05-16-2015, 07:45 PM
 
Location: Brooklyn
518 posts, read 692,038 times
Reputation: 505
Quote:
Originally Posted by Kefir King View Post
I will bid $150.50.
This aint Ebay!
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Old 05-16-2015, 09:29 PM
 
1,712 posts, read 1,921,445 times
Reputation: 2935
$400k for a tiny 2 bedroom house in Texas!? You can get a giant mcmansion on a monstrous lot and great schools in most other parts of Texas for that amount.

Damn, that's worse than even NJ&LI prices lol

Like this for example in a Dallas suburb:

http://www.realtor.com/realestateand...5-26219?row=22
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