A woman from Chicago is the proud winner of the eBay auction of an abandoned home in Saginaw, MI, according to Saginaw News. Her high bid? $1.75. Thirty-year-old Joanne Smith went up against seven other bidders to claim the house, but she has no plans to move there. "I am going to try to sell it. I don't have any plans to move to Saginaw. I don't have any plans of moving from (Chicago)," she says. This is not the story of the homes in Sicily selling for one Euro, though. The abandoned home is in disrepair and has changed hands seven times since 1999. And, as it turns out, the real cost of the house is a bit more than a buck-75. Smith must pay back taxes on the house and a trash/weed cleanup bill by March 31, setting the final price. To see this Saginaw home, read more.
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Coveted(?) Crib: The House That $1.75 Bought
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So how much did she pay total?
1Oh I heard this story..even though she bought the house for $1.75 the taxes and everything came to I think like $800.
2I heard the same, aimee. Great deal!
3Shag pad!
4omg, that's like a dream come true. it's a small lot, sure, but it would be such a fun flip. plus, how could you NOT make profit on $800?
5well - i guess it all depends on how much it'll cost to flip it. i'm a sucker for those shows on TLC that show the guys who flip houses, and i have a feeling that they could make a lot but if it's been abandoned for so long, then there's going to be foundation issues and all that. she might just want to demo the house and sell the land to someone so they can build a house or whatever.
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