Things Are Tough All Over
We all know that things are tough all over, but people are having an especially hard time in Detroit. Auto plants are shutting down, people are getting laid off and moving away, and no one wants to move to the southeastern Michigan area. One neighborhood in particular is under hard times. This article features a home that recently sold for $1.
It had been the nicest house in the neighborhood, but after the bank foreclosed, vandals stole the copper plumbing, wiring, siding, fixtures, even the kitchen sink. After the bank boarded up the house, thieves stole the plywood boards.
Desperate, the bank placed the home in MLS for $1. 19 days later it finally sold. After paying for the buyer’s closing costs, back water bills, and other costs, the bank payed over $10,000 to sell the house.
Note to self: don’t buy real estate in Michigan anytime soon.
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