Oct 3, 2008

House Sold for $1.75 on eBay

$1.75 House
If you are hit by bad economy and your poor financial situation, almost anything can happen to you and your property. This is what a news about a house that was sold in an online auction just for $1.75, remind us.

According to a AP news report, a Chicago woman won an eBay auction with just $1.75 bid, for an abandoned home in Saginaw, Michigan. The $1.75 was the winning bid out of total eight bids for the home. Can you believe this? Well, this is Internet my friend and anything can happen in bad days!

The anonymous seller of the house also bought it on eBay and didn't disclosed the original price of the house. The seller stated in the eBay sales page:

"I bought this house on eBay several months ago and was hoping to do something with it but I live too far away and now I don't have the money to do anything with it anyway. There are back taxes owed and there is a deadline of March 31, 2009 to pay the back taxes to redeem the house from tax foreclosure."

Joanne Smith, the winning bidder who is in her 30's, said a local paper that she hasn't seen the property and have no plans to give a visit. But, she will try to sell it. Before that she must pay $850 in back taxes and yard cleanup costs for the foreclosed property.


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