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View Full Version : Man buys $330 000 home for $16


Team Fail
July 21st, 2011, 09:22 AM
In a process called Adverse Possession, a Texan man bought a house for only $16. News video below.

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Neighbors don't like the idea of buying an expensive home for so little, and they want him out.

If you knew that you could buy a home like this, would you take advantage of it?

Do you think it's fair that he bought such an expensive home for so little?

Esper
July 21st, 2011, 12:44 PM
Well, everyone deserves shelter and there's no sense it letting a perfectly good house sit empty if there's someone who needs it, like a homeless family. I don't know if that's the case here - I didn't watch the video.

I get why people would be mad. They paid a lot more for their houses. Maybe they feel entitled, or jealous, or that it might somehow make their property worth less.

G.U.Y.
July 21st, 2011, 12:59 PM
An obviously well-educated man took advantage of the law and therefore, got ownership of the house.

The only ways he can be kicked out is if the original owner payed off all the debt, and the bank filed a "complicated" lawsuit against him (the person who just moved in.)

Now, seeing as how the original owner had his house foreclosed on them, it is highly unlikely they'll pay off the debt and then have the bank sue the person inside.

He gained ownership in a completely legal matter. He deserves to stay. It won't lower the property value of the homes around it (unless the house goes into disrepair). I just see the other people as jealous.

Good for the person inside the house.

Lady Gaga
July 21st, 2011, 01:03 PM
Unintentionally the biggest troll of Texas.

Weeaboo Name
July 21st, 2011, 01:21 PM
I'm sensing all kinds of jelly from that woman, gotta love loopholes.

Overlord Drakow
July 21st, 2011, 02:01 PM
Unintentionally the biggest troll of Texas.

LOL.

I say well played to that man.

TRIFORCE89
July 21st, 2011, 02:08 PM
What's that lady's problem? It's not her house.

If I were his neighbour, I would not have a problem with how he acquired the house. I'd wish I had thought of that, but I wouldn't want him out.

My only concern would be property value because it seems like he's just going to camp out in the house for three years until he can claim it in full. No water, no electricity, no upkeep.

G.U.Y.
July 21st, 2011, 03:25 PM
What's that lady's problem? It's not her house.

If I were his neighbour, I would not have a problem with how he acquired the house. I'd wish I had thought of that, but I wouldn't want him out.

My only concern would be property value because it seems like he's just going to camp out in the house for three years until he can claim it in full. No water, no electricity, no upkeep.

Why can't he take care of the house?

Blue
July 21st, 2011, 03:32 PM
Good on him, $16 for a $330,000 house isn't too bad ;)

TRIFORCE89
July 21st, 2011, 03:42 PM
Why can't he take care of the house?
He can, and he should. But the story made it sound like he was just going to camp inside it for three years.

Myles
July 21st, 2011, 07:52 PM
Isn't that law a little unfair on the bank? Just because they aren't actively living in it doesn't mean they don't own it. I understand squatters laws and the homeless, but why let them actually take ownership just from living in there for too long.

U.Flame
July 21st, 2011, 08:36 PM
I think that law should be more known. But just because few people know about it doesn't make it cheating. I don't think there's anything wrong with this insanely cheap deal. Besides, who wouldn't take advantage of a situation like that?

G.U.Y.
July 21st, 2011, 09:37 PM
He can, and he should. But the story made it sound like he was just going to camp inside it for three years.

Well, he has to live in it.

I doubt he's poor, he seems to be very well educated. I mean..I guess it's possible. But I think it's safe to assume he has money to afford the repairs and is willing to do them.

Zet
July 22nd, 2011, 07:58 PM
His neighbours are just jelly that they didn't think of it first.

Oryx
July 22nd, 2011, 08:24 PM
He's lucky he's not in one of those places where they have to actually pay property taxes and such before he can actually own it. When I was little, my family had a fence six feet inside their property. The neighbors wanted to build a garage on our property, and my family offered to sell it to them for the same price they bought it at. The neighbors said "Nope, we'll just build it and then claim adverse possession!" and since my family had been paying property taxes since they moved in on that piece of land, the neighbors were out of luck, lol.

Seki
July 23rd, 2011, 02:57 AM
Well isn't he smart and a little bit lucky.

FreakyLocz14
July 30th, 2011, 08:33 AM
This has to bring property values down. That's probably why they're upset.

~*!*~Tatsujin Gosuto~*!*~
July 30th, 2011, 01:05 PM
Did you have to put the term "Black man"?

I kid I kid

If you knew that you could buy a home like this, would you take advantage of it?
Yes I will take advantage of that deal, houses aren't cheap

Do you think it's fair that he bought such an expensive home for so little?
He got a luck steal


:t354:TG