There’s not much you can buy for a dollar these days. But a single buck can buy a house in Detroit. And the home listed at that price still took 19 days to sell. What a fall from grace. The home sold for $65,000 in 2006 but was ransacked multiple times after falling into foreclosure. Looters stripped the siding, fencing, plumbing, copper wiring, hot water tank and furnace. When it was boarded up, thieves stole the boards. The bank was so desperate to unload the property they agreed to cover the sales commission, a portion of the buyers closing costs, back taxes and water bill, setting them back around $10,000. It’s unclear what the buyer will do with the home as it requires major renovation and a way to prevent looters from stealing the improvements as they are installed.
Credit: Detroit News article
