Property for sale in unknown city, Alabama. Here is the best bargain. This House is offered for sale by Owner located in Alabama. Built around 1920 the property is approximately 1708.00 square feet. As of now, highest offer: $1.
All Listings About Me Feedback Contact You are bidding for the downpayment on the property located at: 959 53rd Street North, Birmingham, Alabama 35212 In its 2009 Housing Outlook, Fortune Magazine ranked the South as far and away the brightest spot in the four regions comprising the national real estate picture, and Birmingham ranked fourth best of the 97 Southern metros in projected change in median home prices. Read More A NO RESERVE auction for the down payment to be subtracted from $14,900 sales price. Please read our feedback and Buy with Confidence We will finance 100% of the remaining balance with no qualifications. Tax Value is $45,700 see link below Do you want to buy deeply discounted Real Estate without begging the Bank for a loan? Hello Friend, Have you been thinking that now is the right time to get into Real Estate but you don't want to put 25% down to get a loan from your bank? Perhaps your credit is not in great shape or your debt to income is a little high? Maybe you just dont want to add another item to your credit report? If this fits your description, then please check out our listing. However, if you are a "lookie lou" and not serious, then please do save us both some time and stop right here. Still here? It is easy to just follow the crowd when it comes to real estate investing ... if nobody else is buying then you shouldn't be buying but if every body else is buying then you should be buying. If you follow this principal, you will most likely get into the game too late as the smart money will have already moved in. On the contrary, we believe that Warren Buffett said it best, "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful." Frequently Asked Questions and Cliff Notes Below are the top 20 Frequently Asked Questions (FAQ's) for those who would like the cliff notes before deciding whether or not to read any further. 1.What am I bidding on? The down payment for the property which will be subtracted from the sales price of $14,900 plus a $595 transfer fee for closing fees. The house is being sold as is where is. 2.What are the terms of the auction? The remaining balance will be financed over 5 years at an 10.50% interest rate. Seller reserves the right to escrow taxes and insurance. 3.The 10.50% interest rate seems a little high, is there a pre-payment penalty if I pay the balance early? No, there is no pre-payment penalty. The rate reflects the amount of risk that we are accepting by not requiring completion of a qualification process to purchase this house. The advantage to the buyer is that there is no prepayment penalty and to have the ability to "use other peoples money" without qualifying. 4.Do I have to utilize the owner financing or can I bring cash? Cash is welcome and we may be able to take a discount on the sales price. 5.Does the seller have a mortgage on the property? No 6.Are there any back taxes or liens owed on the property? Yes, the 2009 taxes are due in the amount of $690.00 and are the responsibility of the buyer. 7.Is the property condemned by the city? No 8.Will the seller be conveyed a clear title? Yes 9.Will an attorney handle the transaction? Yes, the $595 transfer fee to be paid by the buyer will cover the attorneys closing cost. 10.Can the buyer contact the attorney? Yes 11.How soon do I have to provide the down payment? Within 4 days 12.Is the property sold as is, where is? Yes 13.What types of payment does the seller accept? Paypal or wired funds to the closing attorney's trust account. 14.Can I inspect the property? Yes, please email us and we will set this up for you. 15.What repairs are needed to the property?Please realize that we are marketing this property as a handyman special which is why it is priced at this point. We have not occupied or even entered the property so please do your due diligence. There is no doubt from looking at the pictures and video that the house will need some work. Repairs include but may not be limited to roof, HVAC, sheet rock, flooring, plumbing and painting. 16.Is this the first house that the seller has sold on eBay? No, please see our map below. 17.Does the seller require taxes and insurance to be escrowed?Seller reserves this right 18.How much are taxes and insurance approximately a month? Taxes are $56 and insurance is $30, both are approximations. 19.Are the utilities on at the house? No 20.I am an out of town buyer, can you recommend an insurance company or contractors? Yes, we use a nationally recognized insurance company. We are out of town owners so contractors are a little harder to come by. The balance is 100% owner financed, here's how it works: You are bidding on the down payment of this home located on 959 53rd Street North in Birmingham, Alabama 35212. The total purchase price is only $14,900. Just subtract the bid amount from the total purchase price and we will owner finance the balance for 5 years. The interest rate will be 10.50%. There is NO Prepay penalty, so if you prefer just to pay the balance off, then you may do so. The home is sold "AS IS WHERE IS". Down Payment is due within 4 days of the auction. Also add $595 for transfer & filing fees. Please note that the tax appraisal on this house is $45,700. Estimated payments if you are the lucky bidder: Down Payment Interest Rate Years Payment includes principal and interest $1000 10.50% 5 $298.77 $2000 10.50% 5 $277.27 $3000 10.50% 5 $255.78 $4000 10.50% 5 $234.28 Taxes are approximately $56 per month and insurance is approximately $30 per month. PHOTOS Bathroom 1 Bathroom 1 tile Bathroom 2 tile Bathroom 2 tub Bedroom 1 Fireplace Kitchen 1a Kitchen 1 b Living Room Built in Cabinet Living Room Bathroom 2 fixtures and mirror Bedroom 3 Bedroom 2 Side of House A LITTLE ABOUT THIS PROPERTY: Location: In its 2009 Housing Outlook, Fortune Magazine clearly ranked the South as far and away the brightest spot in the four regions comprising the national real estate picture, and Birmingham ranked fourth best of the 97 Southern metros in projected change in median home prices. Housing prices were predicted to decline here by only .6 percent in 2009 followed by a gain of 2 percent in 2010. This bested predictions for other Southern metros such as Atlanta, Nashville, Orlando - and stood in even more vivid contrast to other cities such as Los Angeles where a 24 percent decline is estimated for 2009, followed by an additional decline of 5.1 percent in 2010. Fortune Magazine, December 22, 2008. VALUE: According to the Jefferson County Revenue Commissioner (The Tax Man), the home has 1740ft2. The taxes last year were $668.58. The tax appraisal on the house is $46,700. Repairs: The house is in need of repairs and has been priced accordingly at just $14,900. According to the pictures and video, repairs include but may not be limited to HVAC, Roof, Sheetrock, Paint, flooring and plumbing. It would be hard to get a decent used car for the price of this house. So, why not buy this house, fix it up, rent it out and let it bring in the monthly payment on a brand new car for you. Please due all your due diligence before the auction ends. More Information about Birmingham and 959 53rd Street North Birmingham, Alabama Click Here - Read about Greater Birmingham 390 KB download (PDF) Free software from Adobe, required for download Click Here - 959 53rd Street North Tax Appraisal Report Video: Video can be watched in high quality by selecting the button at the bottom right corner of the YouTube player. Please note that the tree in the front of the house has been trimmed and the windows and doors have been boarded up since the video was shot. Please see the slideshow below Please see where our buyers are from MyStoreMaps improve local and international eBay sales. Anyone can own this Property and begin Creating Their Own Wealth! Regardless, of your current situation you can own this property. So, this is your opportunity to get into the game while everybody else waits for the smart money to lead the way. If you're a "Lookie Lou" or not a serious bidder, again please do not bid! Please understand that we do not want you to bid then second guess yourself into not buying. However, if you want to get started in Real Estate or if you just want to add to your portfolio, then this is the house for you. You are buying the property As Is. Please do your due diligence before auction ends. It's Simple to Own! It's simple to own this property regardless of your current situation. All you have to do is to be the winning bidder and send the down payment and transfer fee within 4 days of the auction ending and we will finance the balance. So if you are serious about moving forward with your future, then please place your bid right now. Copyright ©2009 Below Appraisal. All Rights Reserved.