Jim Jones & Chrissy Lose Mansion In Foreclosure, Sold For $100 In Auction

[O.G.B]

A house in the Bay Area would be much smaller for this price

True, but the Bay Area (for many reasons) is a much better location to reside in than a borough in New Jersey, which also reflects the higher cost on average for real estate in the Bay.

 

[NYK Loyalist]

Mansion

 

[Still FloW]

Damn Jomo

the alphabet boys tryna kill his buzz... Album of the year twice... we need a 3Peat Jimmy

 

[bourgeoisie tall freak]

The mortgage bank isn't accepting anything less than market value (BY LAW) so there's no way in hell that house sold for 100$. #DONTBELIEVETHECLICKBAIT

 

[Malcolmxxx_23]

IRS bout to super violate jimmy

Super super duper

 

[Yaboysix]

I dont understand why these entertainers just dont come down south and get cribs!? The fukk is up North to make y'all want to purchase expensive ass homes up there?!

 

[kingjones29]

Jim might be broke

 

[OJ Simpsom]

typo

 

[shawntitan]

$850,000 for this?

North Jersey...

 

[shawntitan]

A house in the Bay Area would be much smaller for this price

These threads always bring out the North Carolina and Ohio folks...

 

[shawntitan]

https://www.zillow.com/homedetails/23-07-Ward-St-Fair-Lawn-NJ-07410/2127119851_zpid/

 

[HiiiPower]

I don’t usually like to pocket watch, but how the fukk is someone who at some point was probably a millionaire or pretty damn close not paying that house off, and why do they have interest rates that high, and how the fukk did they get away with not paying a single payment over an entire fukking decade

be a million dollars in debt and say it isn't a L brehs

They owe 1.2 million nikka, it wasn't free. They gonna file bankruptcy to get it wiped out but still.

Because it's a mortgage and not a fukking rental property dikk head

He did not think that through when he typed that, fukk is he talking about

 

[shawntitan]

North NJ astronomical taxes on a property with that valuation

Looks like taxes are $23,251.93 a year

 

[NegroTurbo]

It do

Exactly. A 700K property going for 100 dollars at an auction. That's not right. Might have something to do with Jim Jones being individual 1.

It does if the people involved in taking possession are selling it to their friends.

 

[shawntitan]

I wonder what auction site that is tho? $100 for a mansion?

Wait, someone won a $700k home with a $100 auction

$100 goddamn talk about a lick

pics? 100.00 bucks?

So does the person who paid $100 own it outright ? Or do they takeover the mortgage ?...what are the taxes? ...

ppl sometimes abandon a property even tho they can afford to pay for it simply bcuz they don’t want it and also bcuz it can’t command the price they want for it...so they just pick up and move elsewhere...that’s how I got my first house...I knew the previous owner...he moved to florida @ the time and just stopped paying for his old joint...I waited til it went into foreclosure and bought it...but not @ $100 tho...that’s the part of the story that’s insane to me

Reason it went for 100 is because all the back taxes and everything has to be paid first

“Most times when you see that on any listing it means the price you see is NOT a sale price, It is just a posting of what the Bank/Lender had to pay the courts to regaing custody of the home when they foreclosed on it. Next that Lender will take several months to put the property on the market at "Market Value for the specific community" and it will be advertised as a Foreclosure or an REO.
Many of our foreclosures “sell to the bank for $100”, the reason is.....the bank announces/reveals the price they will bid up to (their max bid bid price, the minimum price they will let it go for). The statutory opening price is $100, no one is willing the price the bank will bid, so no one bids, so the sale price gets recorded as $100.“