SAGINAW, Mich. – With a winning bid of just $1.75, a Chicago woman has won an auction for an abandoned home in Saginaw. Joanne Smith, 30, recently was the top bidder for the home during an auction on eBay, The Saginaw News reported. Her bid was one of eight for the home.
“I am going to try and sell it,” she told the newspaper. “I don’t have any plans to move to Saginaw.”
Smith said she hasn’t seen the property or visited Saginaw, which has been hard-hit by economic troubles in recent years.
There’s a notice on the door of the home saying a foreclosure hearing is pending, the newspaper said. She must pay about $850 in back taxes and yard cleanup costs.
What’s amazing is that 7 people bid less than $1.75! God bless Ebay for bringing home ownership to the masses!
Check out the investment store if you want to find similar great deals on real estate.