I am about to get the family house for $1 and need help?

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I am about to get the family house for $1 and need help?

i am about to get the family house for $1 and this house needs major repairs - i want to do over the electric, kitchen, basement - are there any type of loans out there for me, since there will be no mortage? i am looking at this as a great investment

MLaw

Yes, it is called a mortgage. See a bank about getting a home loan to fix up the house. As there's no existing mortgage it should be doable.

barthebear

Can you afford the property taxes? Sometimes the stepped up basis of tax is high when transferred . You might want to seek a tax accountant/attorneys help.

sweetiewa_2003

personal loan, they might have a home improment loan too

Heather J

I'm almost positive that most banks offer home improvement loans. It shouldn't matter whether you still owe on the home or what price you paid for it. Just stop into your bank and ask to meet with someone. They are usually extremely eager to tell you all about what they offer...

Good luck!

chica812004

get a loan from the bank

tejanomoreno

What you need is a rehabiliation loan.
The maximum amount for the loan is 25,000
Check link:

liljay51507

im not positive but i believe you can get a loan from the bank and put a mortgage on your house since there wont be one from you buying it

You ask, I answer

get a personal loan.

dragonsmercy

it's called a Home Equity Loan.

Mariah M

take the house and fix it up
you could sell it for a hell lot more than 1 dollar

Larry E

You can get a home improvement loan or a mortgage loan.

Isabel Maselty

a house for a dollar?

Moore

So you think that you're ready to buy your own home? Hopefully you've done a little research online to make your first home buying experience a good one. First of all you should contact a mortgage broker that will preapprove you for your new mortgage. This is now more important than everloan application. The mortgage broker will also run your credit. With all this information in hand the mortgage broker will see if you have enough income for the price of the home that you would like to purchase.

v b

Who is selling the house to you? If it's an individual, they will have a gift tax form to file.

dgtatu02

I'll give you $5 for the house.

DX_Lover

Are you serios!! I think that you should buy a brand new house for more money than a jacked up house for $1. It will cost a lot just to repair the kitchen.

Joey D

i dont know good luck

JeFFy_LuBe

how 1$?

â–“ old doc â–“

sign it over to me.

email me at

money_for_nothin_and the _chicks_are_free at yahoo dot com

mhk

house loans

please answer my question
http://answers.yahoo.com/question/index?qid=20071215134325AAvqcP4&pa=FYd1D2bwHTHwLb1hEe87QX9ddYhftHf1Rum040Gu_gdiLQ--&paid=asked&msgr_status=

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