Thursday, October 9, 2008

An Old House

An Old House

an old house with boarded up windows

Old and boarded up and not in a great neighborhood - this was the only description I could think of when reading a snippet in the newspaper last week.

A woman in Chicago won an online auction for a house in the next state over - for a whole $1.75.

There were actually eight bids on the auction, and along with the winning bid price, she also had to pay the back taxes of $850.

She was quite happy that she wouldn't have to take out a mortgage in Illinois, her home state, as they are not something that is easy to get these days.

She had no plans to move into her new home, but she was hoping to sell it and make a profit.

I got to thinking that if the house is in the condition that I am thinking it is, she may be holding it for a while - it would be hard for any buyer to get an Illinois Mortgage or one in the next state either.

She had never even seen the house or the neighborhood - and she bought it.

I love a good deal, but sometimes when they seem too good to be true, they usually are!

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