Buying A House For ONLY $1000 - Cheap Homes For Sale!

Buying A House For ONLY $1000 - Cheap Homes For Sale!

Hello everyone, I'm Monique. Welcome to my channel! Today, I'm excited to share with you how to buy a house for as low as $1,000. Many people don't even know this is possible, and even fewer know how to do it. Some properties are sold for as low as $500, while others are sold for around $1,000.

So, let's dive into the process of buying a house at such a low price without worrying about credit scores or anything else.

Learn how to buy

First, you need to know that this is not the traditional way of buying a house. Nowadays, many people acquire home ownership through bidding on properties, and many bids are very low. Some people manage to buy homes for just a few hundred dollars, while others spend between $1,000 and $5,000.I know you might be skeptical because when you think of buying a house for $1,000, it might seem like just a piece of wood, but these are actually some very nice homes. I have personally bid on several houses before, so when I share this information with you, it's based on my own experience.

For instance, my husband and I were interested in one house that started bidding at $5,000, but we didn’t win.Now let me tell you, not every house will ultimately sell for $1,000 or $5,000; sometimes the price can go up to $20,000. But in any case, you still have the potential to acquire them at a low price.

How to find cheaper houses across the country?

The first thing you should do is check out the tax sale map (secretsoftaxlieninvesting.com). Focus on the red and yellow states, and here’s why:

  • Red States: These are tax deed states. If you bid and win at an auction here, the property automatically becomes yours, making you the new owner.
  • Yellow States: These are redemption deed states. If you win the bid, the original owner usually has 6 months to 2 years to redeem their property. During this time, you won’t lose your money; they must pay penalties and fees, which means you earn interest like an investment. If they fail to redeem the property within the time limit, you will become the new owner.

These properties are auctioned off due to unpaid taxes. One property that caught my interest was a house where the resident sadly passed away, leaving it abandoned. Since no one was paying taxes, the government decided to auction it off. Not every situation will be like this, but it can help you acquire properties more quickly.

What are your best tips for finding cheap properties?

When considering buying one of these properties, it's important to do some research. Start by checking the tax sale websites for your county or city. This part can be tedious, but there’s a way to make it easier. You can use tools like ChatGPT or Gemini to ask for a list of tax sale websites in your state. Usually, they will provide a list of cities, counties, or districts for you to check. If that doesn’t work, you can look through the directory listings I provide, which typically show suitable websites near you.

For example, in Louisiana, where I live, I often use a website called CivicSource. However, it’s not available for every city, which is why I want to show you how to search effectively. By exploring these directory options, you can easily find many different websites that are auctioning homes you might be interested in.

What you should know about the bidding process

Once you find a site that interests you, you can create an account to start bidding.I'll show you this part via Civic Source:

1. Browse Property Listings: This site has over 9,000 properties in Louisiana available for auction. You’ll see a variety of properties categorized by area, along with auction dates and detailed information. You can always check the reviews about these houses; they are nice and clearly described.

2. Pay a Deposit: If you find a property you like, you may need to pay a deposit (around $850) to start an investigation to see if anyone lives there. This is part of the foreclosure process and can take several months. If someone claims the property, you’ll get your deposit back

3. Auction Date: If no one claims the property, an auction date will be set. You can bid during the auction, which usually runs from 8 AM to 4 PM, depending on your location.

4. Bidding: On CivicSource, all homes start at $5,000. However, on other sites like Auction, I’ve seen some homes starting at just a few hundred dollars. The platforms vary based on where you’re looking, so find the low-priced homes you’re interested in and submit your bid.

5. Bidding Process: Bids typically increase in increments of $100. You need to keep a close eye on the auction and set a maximum bid for yourself. For example, if the starting bid is $5,000, I might decide that I only want to go up to $7,000.The system will bid for me until it reaches my limit or until I can buy it outright.

6. Winning the Auction: If you are the highest bidder, congratulations! However, there is one important thing I must emphasize: you need to make sure you have enough money to pay for the property. Usually, you have a maximum of 7 days to complete the payment. Regardless of what you tell them you can pay, you are responsible for fulfilling that obligation.

Finish

This is basically how the auction process works, and you can start taking advantage of it. I want you to be aware that there are other possibilities for owning a home or investing, or whatever it may be.

I hope you enjoy this blog, as it has been helpful to me. Remember, while buying a house for $1,000 may sound too good to be true, with the right research and approach, it can be a reality. Thank you for taking the time to read it! Happy house hunting!