A Home for $100?

"a $100" wouldn't get me a tank of gas!! Uncle Sam will crash that party!!

With that good of a price, what is the catch-22? With somthing so anachronistic from conventional logic, there has to be some strings attached. Don't you agree?

To reiterite on the former logic, would you buy a car for 78 cents or would you ask a litany of questions to be introspective? I am sure that latter would be using good common sense. With today's econy, it is up to the recipient to use good judgement.

What is the catch?

You know what they say...."if it sounds to good to be true..." I think it's great that they raised enough money to pay the house off, but for the winner...the house had no offers for over a year for some reason!

The reason the new owner is not considering living there is because the house is located in Hagarstown !! Any one who has been there knows axactly what I am talking about.

Officer Bob wrote:

The reason the new owner is not considering living there is because the house is located in Hagarstown !! Any one who has been there knows axactly what I am talking about.

if he didn't want to live there why participate. i'm sure some of the other 6,000 people would have like to live there.

now unless he sells it he will have to pay property taxes etc. as he is the legal home owner.

Hey if you don't want the house..sell it to me for $100.00. I need a house and can't afford to buy one. I will take care of the house. or rent to me for $100.00 an month.

I doubt he has actually BOUGHT the house..signing papers ect. If he doesn't want it, pick a new winner. Duh!

I'll take it

yo mama take 's it you kiddie porn lookin mo fu-ker

why do you live in a place that has man & asss in the name? IT'S makes you feel at home.

A great idea!

with the value of the house the winner can probably get a low interest loan to cover the taxes, he gets a house for half the value, find that out there now, and Tom, are you as stupid as your writing makes you sound?

You need a class in tax, between the Fed's and St such a windfall cost you about 42% of the profit. Gambling winnings result into taxable ordinary income. The value of the house (appraisal value) was $390K, the cost of the ticket was $100, the taxable gain is $389,900.00. Assuming no other income this places the taxpayer into the 35% tax bracket, his Fed tax bill would be approx.$115,539.25 (single); $108,671.00 (married); $122.568.00 (Married separate); and $112,425.50 (Head of House)PLUS 6.75% income tax to the State of Maryland or $26,318.25. The net profit if he sells the house @$389,900.00 is somewhere between $241,014.00 and $254,915.00. Not a bad day's wage. As for Hagerstown, MD, like all cities has it's low income areas, but a great city with a lot to offer. After all Pres. Clinton love to play the golf course @ Blackrock, which is 1 of 3 major courses located in Washington County, MD. Great schools, public services and conveniently located in western Maryland at the cross roads of interstates 70 and 81, hence the town nickname "Hub City". Come visit us you'll love it.