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I would imagine that if you called that number, one of two things would happen:
1. "Oh, I'm sorry, but the $69,900 house was just sold today. We have several good houses at $129,900 for you to look at!" Classic bait and switch tactics.
2. Yes, there is a $69,900 house for sale. You wouldn't let your dog live in it.
Just remember, if something looks too good to be true, it usually IS too good to be true.
Nothing like that happening around here, but it could possibly be a rent to own. A couple of issues. The seller never expects the sale to ever get paid off and they sell the same property over and over. Or it might be what is called a Lonnie Deal where what you would be buying is a mobile home on a rent to own contract.
There are a surprising number of places where a home can be purchased for under $20,000. Some investors buy those houses, don't fix anything, and resell in a rent to own contract for $40,000-$60,000, depending upon how much work it needs and how bad the neighborhood is. There is usually enough value in the house and land so a buyer can fix it up and still have less than market value invested. But only if the buyer can keep making the payments until it is paid off.
And yes, Ohio and Florida are states were those really cheap houses can be found. New Jersey, possibly. Im not sure about New Jersey, but several southern states and Midwestern states have houses like that available
Around here, those signs are selling mobile homes.
And if they are new it means they are on a rented lot and worthless, you will never be able to sell it and it's a debt not an asset because eventually you won't be able to sell it to some other fool who can finance it and pay the lot rent at the same time.
And yes, Ohio and Florida are states were those really cheap houses can be found. New Jersey, possibly. Im not sure about New Jersey, but several southern states and Midwestern states have houses like that available
You can't find cheap homes in much of Florida anymore. The prices have rebounded from after the collapse. Certainly not $20K not even a mobile home on it's own land. There are some parts of NJ where it's a bit cheaper like in the south but away from the beach, and I don't mean Camden, as well as in the NW section by the PA and NY border, the problem is that property taxes and cost of living in NJ is very high.
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