Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Struggling to sell, desperate property owner slashes price to $1

10/11/2019

Download PDF

Exasperated county commissioners in Ohio, tasked with selling the Georgia home of its elderly former owner, have slashed the price of the property to $1 after four years of failing to find an interested buyer.

Through a bizarre quirk in Ohio’s law books, the elderly woman’s two-bedroom property in Hawkinsville, Georgia, was purchased by Butler County commissioners in Ohio for $18,000 in 2004 in a bid to help her qualify for medicaid shortly after abandoning the home and moving to Butler County, Ohio, to be closer to her daughters. Shortly after relocating, she moved into a nursing home and promptly ran up a $50,000 bill.

As first reported by the Journal-News, the unidentified woman could not access medicaid as long as she was listed as the owner of the property. As a result, Butler County’s care facility director Chuck Demidovich agreed to purchase the property for $18,000 back in 2004. The sale helped cover $40,000 of the woman’s nursing home bills.

Ohio law requires nursing homes to take people’s property when they enter a facility.

“It’s a strange thing,” Demidovich told the Journal-News. “The thing is the law says I’m supposed to collect these people’s property. I really don’t want to do that, and this is an exact example why. If I get somebody’s house that nobody wants, I might as well become a land bank.”

Ohio county commissioners tasked with selling the home, first listed the 1,050-square-foot property for $8,000 in 2015.

The app that gives agents an edge with today’s fresh listings This hot new mobile app enables Realtors to connect with buyers, post listings, and generate leads quickly READ MORE

Even though it is valued at $15,320, the property did not sell even after being listed at auction in 2015. It is located at 235 Dooley St. in a fairly neglected condition.

“I just have a wild idea, what if we put a quarter-page ad in the newspaper and it just said something like property for sale, $1,” Commissioner Cindy Carpenter told the Journal-News. “Do you have any ideas on how to get rid of that property, since it’s not selling at auction.”

As the county continued to incur $200 yearly tax bills, it tried to sell the property through auction and saw at least one offer of $1,000 fall through. It also failed to sell it at a sheriff’s sale after it was foreclosed.

The Hawkinsville City Council, meanwhile, wouldn’t even accept Butler County’s attempt to give the house to them for free.

“If we advertise for a dollar, this could change the dynamic,” Carpenter said.

Email Veronika Bondarenko

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Need print and social media marketing fast? Enter CoVault

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • What ‘being the best’ means to 5 agents

    Luxury homes and affluent clients require service that is second to none. If you’ve asked yourself...

  • NestEgg cracks the code for small landlords and the agents who help them

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • How 3 agents have leveraged a referral network to sell homes

    Marketing by word-of-mouth is seen as a nice-to-have in most industries. But in luxury real estate, ...

  • LeadJolt plugs into the power of Facebook lead gen

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Finding the perfect home for an unconventional client

    Have you ever had a client request the highest, most panoramic property in the area so they can maxi...

  • Showing app Entro has potential — but should address agent safety

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Dreaming of your brokerage being on the big screen? Try ITESMEDIA

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Virtual tour success stories: How 4 agents used visuals to make the sale

    Can luxury properties be sold without a client site visit? The upsurge in virtual viewings this past...

  • Streamline new agent engagement with Guru Solutions

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

January 2021
Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
25262728293031

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...