"ransley" wrote in message
...
On Apr 3, 7:31 am, Chris Tsao wrote:
http://www.homepath.com/listingdetai...use=&src_ref=&...

This is the cheapest mansion I've ever seen. Keywords "REO" (meaning
foreclosed) and "foreclosed" call up web sites with the best priced
houses in America. This begs the question Can anyone who has the money
to buy a foreclosed house get to own it, or is there a catch? My guess
is that buying a house way way waaaay " " " below it's market value
is too good to be true.

Also, can you keep on buying foreclosed houses and reselling them at
their market value or are you only limited to one house?

Buy alll you can, 11000 taxes, maybe 7000 utilities, 3000 insurance,
15000 mortage, upkeep, repairs, then if it stays vacant you go broke
too, its a big house.

Built in 1840, it probably won't need much upkeep either What could
possibly go wrong after only 170 years.

It actually looks like a nice house though, if it was kept well and updated
utilities. I was surprised at the last sale price just 7 years ago. Seems
low then for the size of the house and lot.