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O+< (dan/steely)
@spitfunkolips
just bought this house (529) for $2 AMA
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nomygod
@nomygod.eth
that's so awesome, grats! so what's the "catch" ? (like rehabilitation agreement? etc )
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O+< (dan/steely)
@spitfunkolips
house has been vacant for a while and in disrepair. Bank is just looking to get the delinquent loan off their books. No other bidders showed up today, so got a steal.
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Matt
@mattlee
So you actually paid $2? This doesn’t make sense
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O+< (dan/steely)
@spitfunkolips
technically I paid $8,002.00 because the intern screwed up the deposit amount. But we will be reimbursed the $8k when/if we close.
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Matt
@mattlee
So the bank owed money for the property, and by giving it away they don’t have to repay it?
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O+< (dan/steely)
@spitfunkolips
whoever owned the deed owed the bank still on the loan. Presumably more than 2$ but, bank just wanted it off of their books to claim the losses. haven’t talked to the trustee yet but will see what happened when I close or go to get my deposit back.
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