You can buy part of this house in Alberta for $40K but you can't move in
In what could be one of the most bizarre real estate listings of 2022, you can buy *part* of this house in Alberta but will likely never be able to move into it.
Listed for just $39,900, the home in northeast Calgary offers four bedrooms and three bathrooms — but the buyer will likely never get to enjoy the property.
“This listing is for HALF the equity stake in this home,” the Royal LePage listing stressed.
“This means that the appraiser feels that there was 90k in equity in the house, which means 90K over [the] existing mortgage. The owner is an unwilling seller, and we are not able to offer 90K for the whole house… THE WHOLE HOUSE IS NOT FOR SALE!” the listing added.
“This gives you an equity stake in ownership; you won’t be on the mortgage, property taxes, or utilities… This is a Civil Enforcement Sale.”
The real estate agency adds that the buyer will likely never get physical possession of the property, and you’ll deal with the current owners on title yourself.
“We will not deal with them,” the listing said.
Royal LePage
Royal LePage
Royal LePage
Royal LePage
So, if you’re interested in this somewhat unconventional deal, showings can be booked, but notice will be needed to secure the bailiff and possible locksmith for access. Woof.
“The house needs some work but can be a good investment for the savvy buyer or investor. Price is correct at 39K for half equity ownership of this home,” the listing continued.
Royal LePage
Royal LePage
Royal LePage
Royal LePage
Royal LePage
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