people buy houses from usa with 10 dollars!

@Volkus (202)
Romania
March 30, 2009 9:02am CST
Hi there! I was writig something on a forum when i read that someone from Australia has bought a house for 10 dollars and has received paypal payment for the renters that have installed right away. and the payment was almost 700 dollars! is this true?
3 responses
@echomonster (2227)
• Greenwood, Mississippi
30 Mar 09
I've read several articles about people buying houses in depressed areas in the US like Detroit for really cheap prices. Some hope to sell the houses for more or rent them; others want to rebuild these broken communities and make homes for themselves. The latter group includes some artists who have started calling for artists all over the world to come and take advantage of the drops in home prices. $10 houses have to be very rare, let alone houses that can be rented out again quickly, but there are tons of really good deals around. Moving into a depressed area is more of a brave than a wise thing to do though...you will likely have to put up with crime and the house you will have bought will likely need some serious work. I wish everyone who is giving it a try the best of luck though.
• India
30 Mar 09
I dont think you can buy a house in the US while you live in the austrilia the house documents it self would be way more worth than 10$ may be u just missed out on the zeeros and saw it as 10 ?
@deejean06 (1953)
• United States
30 Mar 09
Hi volkus...if this is true please let me know where in the US! Do you have a link for the story?