Did you say a dollar home? Yes, that’s right, there are homes available right now in the neighborhood for only $1! Now, note that this is not for everyone as these homes need a lot of TLC! However, if you have the time and talent to do a lot of the renovation yourself, you can truly create a fully customized home for a fraction of the normal cost. Read an article about Rick Destito and his $1 home which has been featured in the New York Times.
How the $1 Program Works…
This program is for Owner-Occupants ONLY, you must live in the home for three years or more. You must also show you have the money needed to fix-up the home or the ability to get a loan to complete the work. We have estimated all of these projects will cost at least $50,000 to complete.
Step 1
Fill out an application and submit for approval. This application will determine if this is the right program for you. As with any credit application, we will need to see that you have the credit to secure the loan or the bank financing to do the work.
Step 2
Check out the dollar homes that we have available and pick the one you want to make your dream home.
Step 3
Submit a proposal to Home HeadQuarters. Your proposal must include your intended use of the property and a breakdown of your rehab budget which includes a cost estimate by a certified contractor or architect. Your proposal must also include a timeline of when your renovations will be complete and prove that you have the funds to complete the project.
Step 4
Your proposal will be reviewed, if accepted, you can purchase the home for $1. Then get to work! No, seriously, you have 6 months to complete the immediate exterior improvements after taking title of the property and a total of18
months to complete the full renovations of the home. Go create your own space!