AMERICANS can get a 1,550-square-foot home on an acre of land for just $1.
Hopeful buyers you can place your bids in an online auction from home until the end of the month.
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The three-bedroom home is in Meridianville, Alabama, about an hour and 40 minutes north of Birmingham.
It was listed in Realtor.com 12 days ago with a starting price of $1.
People can bid on the house until noon on August 29th.
The single-family home has two full bathrooms, an attached garage and a garage.
There are six bedrooms in total, including a laundry room and two “good-sized” bedrooms.
The third bedroom is the main and has a private entrance and a spacious closet.
Because this is an online auction, buyers won’t be able to see much of the interior before bidding.
The estimated monthly house payment is $2,719, which is all property tax.
CHEAPEST PLACE TO BUY HOUSES
Unfortunately for potential homebuyers, a typical home on the market today is worth 52.7% more than it was before the pandemic.
There are also 34.2% fewer homes on the market than there were on average between 2017 and 2019.
Danielle Hale, chief economist at Realtor.com, revealed that some affordable cities are emerging across the country.
“This opportunity favors sellers who do not need to replace a mortgage, such as investors or second-home owners looking for a way out, or equity-rich homeowners looking to downsize in their current area or to a lower-cost region, as well as those planning to rent their next home,” she said.
Raleigh, North Carolina, has a median list price of $462,000 and is known for its Southern charm.
In Orlando, Florida, homes cost an average of $440,000. The area is known for its theme parks such as Disney World, Universal Studios and SeaWorld.
How online auctions work
Buying a home at an online auction can be an adventure, according to Nedalee Thomas, an Orange County, Calif., homeowner and former real estate agent.
The biggest difference is that she wasn’t able to get into the home before submitting an offer, she said Realtor.com.
She was able to go to the property and peer through the windows before making her first offer, but that’s more than most people manage.
Bidders also cannot get a mortgage or use a lender – property auctions require full payments.
Thomas was shocked when he was outbid several times before finally, three days later, his bid was won.
Then, on the west coast of Florida, Tampa has homes for $425,000 on average.
In North Florida, Jacksonville has a median list price of $423,000.
Those who don’t mind the cold can spend even less to buy a house in Philadelphia. The median list price in the city is just $328,000.
The cheapest city for buyers is Memphis, Tennessee, where homes cost an average of $350,000.
A home in West Virginia is for sale for just $500.
Plus, see how one homebuyer saved $60,000 using little-known incentives.
This story originally appeared on The-sun.com read the full story
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