I’d like to know is why some houses are so cheap to buy, like this one http://realestate.yahoo.com/Ohio/Euclid/21800-priday-ave:e1f4b4a522c481a320b57e1838bf23b
What’s the catch? I see the property tax info at 89600?
Does that mean that the house might be "as is" but we’d still have to pay high property taxes?
I’d like to buy a house in the next few years and I’m trying to understand how it works.
Thanks a lot
Have you been to Euclid? That does some of the explaining.
Typically, properties that are very inexpensive are so for a reason. What the issues are may not be obvious, you are going to have to do some research. But there is a reason that investors are not snapping this little gem off the market.
Some reasons I have run into lately on very cheap properties: well and septic are on another property and there is no agreement in the deed, toxic mold, water damage, unpermitted additions/construction, property was "red tagged" by code enforcement as uninhabitable.