Cheap Property in NWA - $1 listings

[Terrel L. Shields]

One of our local (loco) Realtors is now listing his property for $1....
OK, I'll bite. I want it for a buck. I think it is an effort to glide under the radar. Cannot understand why it is not listed correctly. The one agent has about 50% of his listings in for $1 and the closed ones are maybe $3 or $240 or some tiny amount. Makes no sense.

Now all listings that are $1 PER SF..or such usually states per SF and the listings above don't appear to be commercial land listings which is pretty much the only place you see that.

 

[c w d]

Terrel, those are errors. The broker won't be held to that. You know it. I know it. He knows it. That's like those listings I see on occasion for $1,500. Turns out it's the estimated monthly payments. Frankly, these practices should be outlawed and the RE broker should face severe penalties. But, it'll never happen.

 

[Mike Boyd]

Could be a minimum bid (non-binding). Or, an amount for the equity. (plus all costs)

 

[Mr Rex]

I'll take 100 of the $1 ones.

 

[Terrel L. Shields]

List price for a bunch of lots is all $1? There are over 40 of them. Did they list them without sales prices??

 

[Rice Brewer]

Terrel, I think those properties are to be auctioned at the JQH Convention Center early next month. It appears that they are being listed in that manner as the auction is Absolute / Without Reserve.