Here’s how to score a $100 home in Southern Illinois. The actual price will shock you!
Is this young man the best son ever?
We’re all for saving as much as possible on your mortgage, check out some tips on the topic here. BUT WAIT, here’s a whole new way to save on your mortgage. Move to Du Quoin in Southern Illinois and buy an entire house for $100. Yes you heard right, one.hundred.dollars!
But, as with all things in life, there’s a tiny little catch. The deal comes with a few “minor” requirements as laid out by the city:
- Buyer will purchase the home from the city for $100
- Buyer enters into a contract with the city to fix specific items on the home
- Buyer needs to occupy the home for at least seven years
- If the buyer defaults on their promise, the city takes back the property
- If the the city takes back the property it will be demolished
Now our question is: what are those “specific requirements” mentioned in the second bullet point?? I bet the city is going to make the buyer renovate the roof and a few other things, which surely will drive up the cost of owning one of these beauties by a lot. Let us know your thoughts in the comments below.