Bid of $1.75 on eBay gets abandoned Saginaw home

Discussion in 'Wall St. News' started by S2007S, Oct 1, 2008.

  1. S2007S


    wow.....the house needs some work though....

    Bid of $1.75 on eBay gets abandoned Saginaw home

    53 minutes ago

    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.

    The Saginaw News said it could not reach the seller, Southern Investments LLC, for comment.
  2. clacy


    This chick is going to get more than she bargained for. Taxes, upkeep, etc. Nobody is going to buy that thing unless you knock it over and put up something new. You have to ask yourself, why someone would sell a house go for 2 bucks.
  3. Mecro


    Because they were not the real owner.

    This is why you have to do due diligence and do a title search. This lady is obviously a total newbie and is in for a big surprise.