Bid of $1.75 on eBay gets abandoned Saginaw home

[CatWoman]

SAGINAW, Mich. — With a winning bid of just $1.75, a Chicago woman has won an auction for an abandoned home in Saginaw. Joanne Smith, 30, recently was the top bidder for the home during an auction on eBay, The Saginaw News reported. Her bid was one of eight for the home.

"I am going to try and sell it," she told the newspaper. "I don't have any plans to move to Saginaw."

Smith said she hasn't seen the property or visited Saginaw, which has been hard-hit by economic troubles in recent years.

There's a notice on the door of the home saying a foreclosure hearing is pending, the newspaper said. She must pay about $850 in back taxes and yard cleanup costs.

The Saginaw News said it could not reach the seller, Southern Investments LLC, for comment.

http://www.ajc.com/news/content/shared-gen/ap/Feature_Stories/ODD_Cheap_Home.html?cxntlid=homepage_tab_newstab&imw=Y

[slackmaster]

1. She got ripped off

She must pay about $850 in back taxes and yard cleanup costs.

And she's going to have a heck of a time finding a buyer.

[grasswire]

2. dayum

Sounds like the beginning of a Hallmark movie of the week.

[flvegan]

3. Foreclosure? Looks like someone might have just assumed a mortgage, too.

Always do/get a title search.

[tridim]

4. I used to bid on GSA auctions for strange military equipment

I once bid $5.00 on a "Motorola flight data recorder and parts" because it sounded cool. When I went to pick it up I discovered it was about the size of 2 refrigerators and weighed about 2 tons. I had to abandon it and was charged for disposal. It was cool looking though!

That was the end of bidding on things I couldn't inspect beforehand.