100 dollar lot

**eamon** · 05-19-2010, 08:10 PM

I found a vacant lot in detroit for less than 100 dollars. I live out of state. I do not plan to maintain the lot. I am a minor. Is that ok? Any potential issues? And if I buy it for 100 dollars, then the taxes are based on that value, right? So almost no taxes?

**markbrian** · 05-20-2010, 06:23 AM

It is $100 for a reason

**eamon** · 05-20-2010, 06:30 AM

Well, yeah. Detroit is dying. But the price can really go no lower, and it might come back in a few years. The same lot sold for 18,000 in 2004. There is no risk involved here, except for about 50 bucks. What Im asking is if I'll get in trouble if the weeds grow too tall or something.

**Bones** · 05-20-2010, 07:42 AM

I wonder what the commission is on a 100 dollar lot?

**eamon** · 05-20-2010, 04:05 PM

I was wondering about the commission too. How can they sell it like that? Will I have to pay a commission or fees or something, or can I actually get it for the list price only?