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Many of the homes came with a caveat that you have to bring it up to code. The home was only a $1,000 but the renovation costs were 10s of thousands.
by wil421 7y ago
Many of the homes came with a caveat that you have to bring it up to code. The home was only a $1,000 but the renovation costs were 10s of thousands.
- phkahler 7y agoNot sure if it's still the case but you could by adjacent vacant lots for $100.
- flyGuyOnTheSly 7y agoThat is still the case, but only if you own a home on the lot adjacent to the vacant lot.
- DrStalker 7y agoYou also become responsible for any unpaid property taxes, because they are attached to the property rather than to the person who owned it when the debt was incurred.
- acollins1331 7y agowhat the hell
- scottmcf 7y agoThat's why they are so cheap.
- mymythisisthis 7y agoShitty that an accountant policy is hurting a city.
- fapjacks 7y agoFrom my understanding, there's also a caveat that you have to live in the home. Or have a tenant or something similar. I think it has (had?) something to do with preventing outside speculators from holding properties while the structures become (further) dilapidated and/or collapse.